Iconic Film Company Kodak Files For Bankruptcy

This could be the end of those "Kodak moments."

Early this morning, Eastman Kodak filed for Chapter 11 bankruptcy protection. The announcement does not come as a surprise, since the company has been struggling for a while now, and rumors of bankruptcy have been swirling around for some time now. Kodak was hit particularly hard by foreign competitors years ago. But now, the company's inability to catch up to the digital photo revolution could spell its downfall.

Kodak has not announced any job cuts as part of the bankruptcy, and will remain in business as the company is re-organized under bankruptcy protection. It's sad to see such an iconic company going belly-up like this, especially when you consider that Kodak was the company that pioneered the inkjet printers that are now driving them out of business. It just goes to show you what happens when you don't adapt to changing technology, I suppose.