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Polaroid Expected to Declare Bankrupcy Soon

Yesterday, Reuters reported that Polaroid shares fell 30 percent on fears that it would seek bankrupcy protection imminently. Polaroid's Chairman and CEO is Gary DiCamillo '73 who also serves as a trustee of Rensselaer Polytechnic Institute.

Polaroid has a long history of technical innovation in instant photography, but it has been severely hurt by consumers' tendency to purchase digital cameras which neither consume traditional nor instant film. Polaroid's industrial products include corporate and government ID systems, microscope cameras, and devices to convert digital camera images to photographic prints.

Update on 10/13: Polaroid filed bankrupcy yesterday. Here is a summary article from the New York Times.

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