"My dad paid no attention. He would say proudly that Kodak spent a higher percentage on research and development than anybody. I knew his entire pitch by heart: With the top-ranked universities in town and down the road, Kodak was the place to work from Buffalo to Albany. If you went
to school, had family, or married someone in Rochester, it was the top of the heap. If you had to endure the awful weather, at least you were at Kodak.
This is what our marketing-speak to plain english translator says. Quote from Kodak's press-release:
" These actions, which the company has already begun, include more tightly focusing its portfolio of investments, intensifying its emphasis on generating cash, and further streamlining its cost structure. Additionally, today the company announced that where permissible by law its executives would not receive a salary increase in 2009 and that it would temporarily suspend for 2009 the company’s U.S. 401(k) match. Based upon the current outlook, company management also does not expect a payout
"Kodak has succumbed to its financial pressures and filed for Chapter 11 business reorganization in New York. The iconic photography company isn't dead yet, however, just very broke."
Is Kodak aware that people are writing eulogies left and right? Is the company even aware of its death? No, not really, according to them they are 'restructuring' and 'focusing on core strategies' and 'enforcing the transformation to an all digital company' and stuff like that. Kodak, welcome to the purgatory, Agfa and Polaroid will be your guides.