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In 1997, the company had a market value of almost $30 billion. Today, it's down to $145 million - and shrinking almost by the hour. This morning the WSJ reported that the 132-year-old company is prepping for a possible bankruptcy filing in the event that it fails to sell off its digital patents or is unable to borrow more money (lots of luck on that one). From the Journal:
The struggling photography icon, which employs about 19,000 people, is in discussions with potential lenders for around $1 billion in so-called debtor-in possession financing that would keep it afloat during bankruptcy proceedings, the people said. A filing could occur as soon as this month or early February, one of the people said.
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.