Eastman Kodak, the popular film and camera company from the not t0o distant past, is all set to emerge from bankruptcy which it filed in early 2012 in the first week of September. http://abcnews.go.com/Business/kodak-emerge-bankruptcy-september/story?id=20028632 Heartening bit of news this.
Amateur photography which has never been more popular was virtually invented by this company. However, in its second birth the compnay would come back in an altogether different avatar and sell digital printing devices to other businesses rather than sell cameras.
Apparently, Kodak was driven to bankruptcy by a ~ $ 3 billion of pension obligations towards workers in the UK. Thus, inorder to make good this obligation, it will sell its traditional business to the pension fund of its workers.
From being one of the most recognised brands, the company is now associated with not having been able to deal with competition and technology obsolescence. Hope, coming out of bankruptcy will provide a sense of direction to the company.