Eastman Kodak Finds Itself at a Crossroads

Wait till next year. It’s a familiar refrain for Bills and Mets fans, and it has become Eastman Kodak Co.’s mantra. Like a struggling sports franchise, the photo and imaging company has spent recent years repeatedly rebuilding. The company has been in the red for 11 of the past 14 quarters while sales keep shrinking alarmingly—from $14.3 billion in 2005 to $7.2 billion last year.

There is plenty of evidence that Kodak stands at a crossroads, with one direction leading to a remarkable business turnaround and the other leading to any number of potential scenarios such as bankruptcy, a takeover,