Friday, January 20, 2012

Bankruptcy by Kodak emitting an eerie echo

Eastman Kodak Co. of Rochester filed for Chapter 11 bankruptcy protection Thursday, an action that resonates in Buffalo, its sister city on the Thruway that has survived the demise of some its own iconic employers and now battles to adapt to a changing economy.

The struggles of Rochester mainstays such as Kodak call to mind the Buffalo area's loss of companies that once symbolized its manufacturing might, including Trico Products and Bethlehem Steel.

Over the years, Rochester has endured huge job reductions at Kodak, Xerox and Bausch & Lomb, and watched Xerox's corporate headquarters move to Connecticut.

Kodak is trying to reorganize its business, not shut it down, and some observers think the company can withstand the process in some form.

Read the rest of the article at Buffalo News

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