Monday, January 09, 2012

The market: Kodak loses; the consumer wins

Also, from Gary North:
Here was a company that was on top in 1994, the year that it spun off Eastman Chemical. Eastman Chemical continues to prosper. Kodak faces bankruptcy. Kodak was a major firm for over a century. It supplied an important product. The company kept improving its product line. It looked invulnerable. In film, it was. Then digital photography arrived. Guess who invented it? A Kodak employee. That was in 1975. You can see the original camera here. The top executives thought there was no future to it. They did nothing with this technology. The technology has now done something with Kodak: bankrupted it.

From Joshua.

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