WXXI AM News

Kodak

Full Coverage of Kodak's Bankruptcy and What's Next

Jan 19, 2012

Eastman Kodak Company is filing for Chapter 11 bankruptcy.

In a statement, the company said it is planning to reorganize the business in order to "bolster liquidity in the U.S. and abroad, monetize non-strategic intellectual property, fairly resolve legacy liabilities, and enable the Company to focus on its most valuable business lines." 

Tell Us Your Kodak Story

Jan 17, 2012

Kodak may be struggling, but its legacy lives on in the Rochester community.

That's why WXXI's Innovation Trail wants to hear your Kodak story.

Did you or a family member work for the company? Did you grow up in the shadow of one of Kodak's plants? Did working at Kodak springboard you to a new career, or drag you from one Kodak town to another during your childhood?

We might use your story on an upcoming television or radio program on WXXI.

Kodak Retirees Worry Amid Bankruptcy Talk

Jan 13, 2012

Amid recent reports that Kodak could be headed into bankruptcy, financial advisers in Rochester, N.Y., where the company is based, are seeing more and more Kodak retirees who are anxious about their personal financial futures.

Once upon a time, Kodak provided secure, good-paying jobs to tens of thousands of local residents. For about the past 25 years, the company has been shedding local employees — from a high of more than 60,000 in 1982 to about 6,000 today.

Kodak Realigns Internal Business Structure

Jan 10, 2012

Eastman Kodak Company is restructuring its business units reducing the number from three to two: commercial and consumer.

Kodak had previously divided its business into three segments: traditional film & paper products, consumer digital imaging and graphic communications.

The move comes as the company continues to deal with rumors it plans to file for chapter 11 bankruptcy protection in the near future. 

NPR Looks at Kodak's Challenges

Jan 9, 2012

NPR's All Things Considered looked at Kodak's recent history and talked to experts about what might be next for Rochester's photography giant.

Reporter Jim Zarroli interviewed a former Kodak executive who is now at Harvard and Mark Zupan from the University of Rochester's Simon School in reporting his story.

The end could soon be near for Kodak, and the iconic film manufacturer may have itself to blame.

Kodak, based in Rochester, N.Y., could be headed into bankruptcy over the next few weeks. The company has seen its profits plunge in recent years, largely because of the popularity of digital cameras.

Kodak is trying to move into new product lines like inkjet printers, but in the meantime it's attempting to raise cash by selling off some of the patents it's developed over the years.

Rochester Mayor Tom Richards says he is optimistic after attending Governor Cuomo’s State of the State Address.

He says he believes the Governor and the legislature are hoping to maintain the momentum of the accomplishments of 2011.

Click on the audio player above to hear Alex Crichton’s interview with Richards from Thursday’s Morning Edition on WXXI-AM 1370.

Richards also addressed reports of a potential bankruptcy filing by Eastman Kodak. He says changes at Kodak are inevitable and the city of Rochester will just have to deal with any problems that may cause.

www.kodak.com

The Wall Street Journal cites unnamed sources in reporting that Eastman Kodak Company is preparing to seek Chapter 11 bankruptcy protection in the coming weeks.

The Journal's story includes information about Kodak's efforts to raise money by selling digital patents. If Kodak is unsuccessful, bankruptcy could come as early as later this month or in February according to their information.

Kodak Shows Off HQ Space Available to MCC

Dec 1, 2011

Officials from Eastman Kodak say 549-thousand square feet of underutilized building space would be a good home for a new Monroe Community College downtown campus.

The buildings sit south of the Kodak Tower, facing Morrie Silver Way. Four of the five office spaces are vacant and available for MCC to use.

Arline Liberti, Kodak's manager of Rochester Facilities,  says bringing MCC's Damon campus to the company's headquarters would be a “win-win” situation.

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