Since then, the company has shed thousands of jobs, eliminated retiree health benefits, sold its digital imaging patents, sold its online photo gallery, taken its name off the theater that hosts the Academy Awards, stopped making cameras, put its film business up for sale and left a trail of unpaid bills.
The company is poised to emerge from bankruptcy this year. It will be a much smaller firm with a focus on commercial printing. The bankruptcy has cost Kodak at least $125 million in fees.
It’s not clear what will become of Eastman Business Park, a vast 1,200-acre, 3.5-mile long industrial site. There’s an abundance of vacant land and building space. The power plant was sold to a green energy firm, potentially saving the park’s most important asset.
As many predicted on this day one year ago, the world did not come to an end. There’s no question lives were altered and the community’s psyche was damaged. But January 19, 2012 was in the works for a couple decades. It felt like the end of a long illness. There may be painful days yet ahead, but Rochester will go on.
I like what Mayor Tom Richards said a year ago:
“I think we can’t look at Kodak as just the business. We have to look at Kodak as it’s had its impact on this community. And what it did for this community remains…We’ll have some difficulties as a result of all of this, some uncertainty, but we’re certainly going to survive it as a community.”
Links of the Day:
– New York has redefined what the term “assault weapon” means. It’s still confusing.
– A woman struggling with depression writes about why she never wants a gun.
– Watkins Glen is a finalist for the “Coolest Small Town.”