Eastman Kodak, once one of America's most illustrious companies, is nearly out for the count. Trading for a dollar a share, its fortunes now rest on patent lawsuits. Here's Sinead Carew, for Reuters:
Eastman Kodak Co shares lost more than half their value on Friday as the company hired a law firm well-known for bankruptcy cases, triggering speculation that the photography pioneer could file for bankruptcy.
Kodak, which delivered the first consumer camera in 1888, denied it had a bankruptcy plan, saying it was committed to meeting its obligations and is still looking for ways to "monetize" its patent portfolio.
People often suggest that there's an irony in Kodak having invented digital photography. But its real problem was a sales model based on selling cheap cameras and expensive media. So it wasn't killed by the digital camera, really. It was killed by the cheap flash memory that came with it.
Kodak denies bankruptcy plan but shares plummet [Reuters]
Indiana U is selling off a huge lot of lab equipment, including these space-pod-looking gantries. Winning bidder is responsible for dismantling and shipping. “To give someone an idea of how large these are, there are two pits that they sit in. Each of the pits are 28’x35’x10′ deep.”
Vertu, the “luxury” cellphone maker whose handsets look like drug cartel handguns and are always comically obsolete, went out of business last month, reports the BBC. It is to auction off its inventory. Bids start at $26,000. Thuy Ong: The auctioneer, G J Wisdom & Co, says the phones are a mix of concept models […]
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