Kodak Preparing for Bankruptcy - End of an Era?

Eastman Kodak Co. is preparing for bankruptcy in the "coming weeks" in case efforts to sell its patents fall through, the Wall Street Journal reported on Wednesday.

The photography and imaging equipment company has long struggled with revamping itself as atechnology company amid advancements in digital cameras and photo sharing.  Shares of Kodak have closed under $1 for 30 consecutive trading days, the Journal reported.

Kodak has cut global staff to 18,800 from a peak of 145,300 in 1988. Jobs at its headquarter in Rochester, N.Y. were cut to 7,100 from 60,400 in 1982, according to the Associated Press.

Read the rest at the link.  So is this the end of an era?

http://news.yahoo.com/wsj-kodak-preparing-bankruptcy-193620278.html