Bankruptcy For Kodak
I was crying so hard I couldn't work my Instamatic. Kodak filed for bankruptcy today.
Kodak has filed for bankruptcy in a bid to survive a liquidity crisis after years of falling sales related to the decline of its namesake film business as digital cameras have taken over the market. Eastman Kodak Co, the photographic film pioneer, which had tried to restructure to become a seller of consumer products like cameras, said it had also obtained a $950m, 18-month credit facility from Citigroup to keep it going.The filing in Manhattan does not affect the company's overseas subsidiaries, which may survive in some form if the parent company does not.
UNRELATED: Looking at this photo, I'm reminded that the Pocket Instamatic came with a small sheet of stickers for personalizing your camera. Among the choices were an America flag, such as above, a race car, an Apollo rocket, etc. I chose the daisy, which displeased my father greatly. A 1972 sign of things to come, truly.