KODAK'S BAD MOMENT

HIT BY FIERCE FILM PRICING AND HIGH COSTS, THE U.S. PHOTO GIANT SEES LAYOFFS DEVELOPING

What's wrong with this picture? When George Fisher became the head shutterbug at Eastman Kodak four years ago, things instantly looked brighter for Big Yellow, the world's largest photographic filmmaker. Fisher, who dialed up a triumphant turnaround at cellular-phone and microchip giant Motorola, planned to re-vitalize stodgy Kodak (1996 sales: $15.97 billion) with a burst of digital-age products. Instead of bloody downsizings, Fisher would restore Kodak's faded glory through the magic of growth.

Zoom forward to last week, when Fisher's strategy seemed to be coming a cropper--to say nothing of being in need of cropping. With the company's new computerized camera...

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