What the Duck : WTD 1302


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Oct 8, 2004
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#2
Touching.... but Kodak is not filing for bankruptcy - and they are likely not dead. They are filing for bankruptcy protection from creditors.

As our favorite camera pundit has said:
Ken Rockwell said:
The news media loves to get everyone all riled up, so they report irresponsibly as if chapter 11 is "going out of business." Heck, almost every airline and Ritz has pulled this same "Chapter 11" rich-guy's trick, and they're all still around.

Chapter 11 merely means that you're run irresponsibly and want to skip out on your promises, but to stay in business shining your big ugly teeth back at the people you managed not to pay by playing the chapter 11 legal trick.

All filing under chapter 11 means is that you're a poorly managed and irresponsible operation. It's a badge of shame — but you or your company will still be around, and that you're promising the judge to be better next time.
Kodak will likely be back and, hopefully, better run.
 

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