As expected, the Eastman Kodak Co. has filed for Chapter 11 bankruptcy protection, listing assets of $5.1 billion and debts totaling $6.8 billion.
The Bloomberg story about the filing notes that Kodak seemed to be “a company stuck in time,” and that in many ways as a photography pioneer had proven to be a liability in a digital world. The irony, of course, is that, as the story notes, Kodak “invented the first digital camera in 1975, which it shelved because it would threaten its lucrative film business.”
The Bloomberg story about the filing notes that Kodak seemed to be “a company stuck in time,” and that in many ways as a photography pioneer had proven to be a liability in a digital world. The irony, of course, is that, as the story notes, Kodak “invented the first digital camera in 1975, which it shelved because it would threaten its lucrative film business.”
- KC's View:
- And if that is not a metaphor for myopic management, I don’t know what is.
