Kodak files for Chapter 11 bankruptcy

[The Straight Story]

Kodak files for Chapter 11 bankruptcy


LOS ANGELES (MarketWatch) -- Eastman Kodak Co. EK +6.36% announced early Thursday that it and its U.S. subsidiaries filed for Chapter 11 bankruptcy. The firm said the move "is intended to bolster liquidity in the U.S. and abroad, monetize non-strategic intellectual property, fairly resolve legacy liabilities, and enable the company to focus on its most valuable business lines." It said it would still pay employee wages and benefits and continue customer programs.

http://www.marketwatch.com/story/kodak-files-for-chapter-11-bankruptcy-2012-01-19

[NBachers]

1. Oh, jeez

I grew up in Spencerport, right outside of Rochester. A large percentage of the kids in my school had parents who worked at Kodak. My brother worked there. The whole region's standard of living was lifted by Kodak. We all felt a patriotic pride in the company. It was a good time to be alive.

What a shame.

[Suich]

2. Wow!

Color me surprised!