Saturday, January 21, 2012
The glory days when Eastman Kodak Co. ruled the world of film photography lasted for over a century. Then came a stunning reversal of fortune: cutthroat competition from Japanese firms in the 1980s and a seismic shift to the digital technology it pioneered but couldn't capitalize on. Now comes a wistful worry that this icon of American business is edging toward extinction. Kodak filed for Chapter 11 bankruptcy protection on Thursday, raising the spectre that the 132-year-old trailblazer could become the most storied casualty of a digital age that has whipped up a maelstrom of economic, social and technological change.