Eastman Kodak
Eastman Kodak
Fortune 500 rank: 408
2011 loss: $764 million
Founded in 1881 by George Eastman, the Rochester, N.Y.-based Eastman Kodak has made itself into an American icon. The problem of course, that actual film products that made it famous have followed the cassette player and the icebox into the dustbin of mechanical irrelevance. After losing $764 million last year, Kodak filed for Chapter 11 Bankruptcy in January.

In bankruptcy, Kodak will focus on its printer businesses. Much of the rest of the company will go. Recent reports indicate that the company will likely sell its online photo services business to Shutterfly for some $24 million. It's also planning to sell its trove of patents on camera technology (it's already suing some phone makers including Apple for what it says is infringement on those patents). And it will exit the camera business altogether, except for a few disposable models.

Though Kodak has continued to lose cash in bankruptcy, Credit Suisse has granted the company a $950 million line of credit while it restructures. It has said it hopes to return to profitability in 2013. Depending on how that restructuring goes, there may still be some Kodak moments yet to come.


By Anne VanderMey, reporter - Last updated May 08 2012: 1:42 PM ET