Kodak Bankruptcy Fears Escalate

[cdnvic]

Kodak Shares Plunge as Bankruptcy Fears Escalate

By MICHAEL LIEDTKE AP Business Writer October 1, 2011 (AP)

Investors dumped Eastman Kodak's stock Friday amid fears that the photography pioneer is headed toward bankruptcy.

After its stock lost more than half its value in a volatile day of trading, Kodak tried to paint a rosier picture. "Kodak is committed to meeting all of its obligations and has no intention of filing for bankruptcy," the company said in a statement. The reassurance lifted Kodak shares in extended trading, but the rebound wasn't enough to undo the damage sustained in a brutal week for a hallowed name in U.S. business.

The Wall Street Journal rattled Kodak's already jittery shareholders with a Friday report that the company has hired Jones Day, a law firm that dispenses advice on bankruptcies and other restructuring alternatives.

Full story: http://abcnews.go.co...calate-14643139

[paulian]

Another Company that reacted too slow to the digital age. Guess they thought it was just a passing fad.

[astral]

Such a history with photography.

A real shame if they go under,

but that can happen to dinosaurs.