And now, another long-famous corporate name has filed for bankruptcy. One far older than Borders, or Blockbuster, or Syms, or any of the other companies that have filed in the past few years. Sad to say, it seems that Eastman Kodak can no longer continue its existence and has filed. And while some people might say that Kodak was the equivalent of a buggy-whip company after the rise of the automobile, this really was not true. In fact, one of the few assets that Kodak brings to the bankruptcy proceedings to pay off its creditors is a collection of digital imaging patents that have substantial value.
So what did Kodak do wrong? For one thing, it did not, apparently, fully exploit those patents it had. Many of the Japanese camera makers, such as Nikon and Canon, seem to have made the transition to digital cameras work. (So did Fuji, whose background is in film, the other major product for which Kodak was known.) Was it poor management? Or the weak Obama economy? We will never, I fear, know for certain. But it's sad to see an old name like Eastman Kodak go.
So what did Kodak do wrong? For one thing, it did not, apparently, fully exploit those patents it had. Many of the Japanese camera makers, such as Nikon and Canon, seem to have made the transition to digital cameras work. (So did Fuji, whose background is in film, the other major product for which Kodak was known.) Was it poor management? Or the weak Obama economy? We will never, I fear, know for certain. But it's sad to see an old name like Eastman Kodak go.
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