Summary:
Once the king of film, Kodak has struggled over the years to find their footing in the digital era. In 2013, the company emerged from bankruptcy and till today is looking to find business model to sustain itself. What used to be 200 buildings of Eastman Kodak’s business park, is now left with a few buildings, with the rest either demolished or sold off. The article mentions the story of Mr. Taber, a Kodak employee of 34 years, together with 300 other scientists and engineers are working through their legacy innovations in optics and chemistry can be turned into new business ventures. In July this year, Trump administration made a $765 million loan to the Eastman Kodak Co. for its launch of a business making pharmaceutical ingredients in the US.
Vocabulary and Sample Sentences:
Capitalize v. – chance to gain advantage from / convert into capital.
- Kodak has packaging sensor technology that they did not capitalize.
- Entrepreneurs are constantly looking to capitalize on any market opportunities.
Complacent adj. – showing smug / self-satisfaction with one’s achievement
- The cash Kodak made from film made them complacent.
- Having too much luxuries in life would make you complacent.
IP – Intellectual Property (patent, copyright, trademark)
- CEO of Kodak believes that they will not be able to capitalize on their IP through Kodak-branded sales.
- Filing patents is a way to protect a company’s intellectual property.
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