It's sad but unsurprising that Kodak appears headed for bankruptcy protection. And that should be a cautionary tale for camera industry powers that might think themselves better off.
Kodak, a technology titan from an earlier industrial age, has been struggling financially for years as digital photography killed Kodak's former cash cow, film. Bankruptcy protection, as reported yesterday in the Wall Street Journal, could open the door to some otherwise difficult options such as evading its pension obligations.
But fundamentally, it's hard to see Kodak surviving except as a shadow of its former self. Some technology bright spots--digital … Read more