Filing Bankruptcy
The fact that Kodak is filing for bankruptcy protection is a positive measure for all those who rely on Kodak for a living, as well as the shareholders who have invested in the hope that they can build up their nest eggs for their futures.
Too many long standing companies have disappeared already and Kodak’s 131 years of business should surely be helped for the financial success of previous years. Who does not know someone who was or is employed by Kodak? I, for one, have memories of Kodak events with my friends and was very impressed at the way they treated their employees.
The Recoil of Filing for Bankruptcy
When a company goes down the route of filing for bankruptcy it can inpact smaller companies in such a way that they too could find themselves going down the same route, which in turn leads to personal bankruptcy for many of their employees. Sadly even suicides and sometimes due to their potential home repossession distress.
The vicious circle has no benefit to anyone and therefore, when a company is having marketing problems, they should have a strategic marketing consultant with implicible creditials of business success to turn to. This specialist advice, I feel, should be supplied by each government and eventually paid back when the company is in profit position again, thus ensuring that each government has the funds available for highly qualified marketing speciliasts.
Filing for Bankruptcy Protection – Kodak News
Let’s hope the following is true …
“Kodak did not announce job cuts as part of the bankruptcy protection filing. The company’s payroll has plunged below 19,000 from 70,000 a decade ago.”
http://www.cbsnews.com/8301-501363_162-57361610/kodak-files-for-ch-11-bankruptcy-protection/
Should it not be the case then we are looking at personal bankruptcy for many in the local community of Rochester NY.
To read more about the amazing history of Kodak … http://en.wikipedia.org/wiki/Kodak
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