Many have weighed in with their opinions on the state of Kodak. Here are some notable words that also sum things up quite well:
“I cannot remember a case that I’ve ever been associated with in any way where so many people wanted the company to succeed but so few people thought it actually could,” said John C. Ninfo II, a retired United States bankruptcy judge whose grandfather worked at Kodak and whose great-uncle tended the gardens at the Eastman house. “For some, the bankruptcy proceeding has been a sorrowful thing, like losing a family member.”
“The company made a big mistake of riding the cash cow — film — to the point that there was simply no more milk coming from it,” said George T. Conboy, the chairman of Brighton Securities, a stock brokerage and financial services firm in Rochester.
“This is a company that is going from being a behemoth that owned the market to a niche player scrapping for share,” Mr. Conboy said. “It will be a different game for the new Eastman Kodak.”
“What that situation signified — which was part of the problem with the whole business model — is that they thought their technology and their patents were more valuable than they really were,” said Jay T. Westbrook, a professor at the University of Texas Law School. “They clung to that right until the end.”
(Excerpts from an article published on the web by Julie Creswell)