Saying that it has fundamentally turned a corner, Eastman Kodak Co. will be before U.S. Bankruptcy Judge Allan Gropper today to seek his approval on the company’s plan for wrapping up its bankruptcy and essentially starting over as a new company, the Rochester (N.Y.) Democrat and Chronicle reported yesterday. During its bankruptcy, Kodak cut its corporate spending by 26 percent, eliminated more than 600 manufacturing, supply chain and product engineering positions, and reduced its global real estate footprint by 30 percent. At the same time, the company said that it continued to streamline its business to focus strictly on the most profitable opportunities, getting rid of its Kodak Gallery business and its desktop inkjet printer line. If the court approves Kodak’s reorganization plan, “I don’t know how many people are going to see a difference when they drive by the company, or what customers will see differently,” said University of Michigan Law School Prof. John A.E. Pottow.
