Remember the old spool type cameras? There is still a marker for them but not like it was. It is lil how gray nomads were often large family home owners or renters and accumulators of possessions. Few seniors have an interest in those things now. We have successfully known when to move on and keep from our past only the 20% that will serve us best for our future. Reg and I replaced the large family home with a 4Wheel drive car an eco-tourer caravan an a small rural retreat. Now we summer down south and winter up north and make the most of our senior years. I have evolved my work and hobbies to be fully transportable in the caravan. Now that is applying the 80/20 rule.
Good rule for business and life. Follow the 80/20 rule and be willing to throw away the 80% that isn't performing well and try out something new in it's place then keep only the 20% of the new - the best performing 20% and keep repeating the cycle. It is a little late for Kodak to be trying to sell digital stuff to get out of trouble now. Sometimes we have to get the blinkers off sooner that a way of life we were comfortable with has become marginal and there is a better way to live it if we diversify.
Iconic photography company Eastman Kodak is preparing to file for bankruptcy in the coming weeks if efforts to sell off digital patents fall through, according to the Wall Street Journal.
The WSJ says "people familiar with the matter" have confirmed that the filmmaker is in talks with potential lenders for around $1 billion in financing to keep it afloat.
The 131-year-old company is still making last-ditch efforts to sell around 1,100 patents through a court-supervised bankruptcy auction.
A filing for bankruptcy could occur as soon as this month or early February, the source said.
A US based Kodak spokesman told the ABC that the company does not comment on market rumours or speculation.
Kodak shares plunged 28 per cent on the report.
Kodak to file for bankruptcy: report