Kodak zooms in on the home-video market
For Eastman Kodak, 1983 was the year the company's glossy image lost much of its luster. Profits of the world's leading maker of photographic equipment (1982 sales: $10.8 billion) plunged nearly 50% in the first nine months of 1983 as key products faltered both at home and abroad. The company, which prides itself on the warmth of its employee relations, had to make a series of painful layoffs. Kodak stock, meanwhile, sank 12.5% during the year despite the bull market, making it the worst performer among the...
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