Eastman Kodak

No, RBG, that’s not the internet.

* According to Justice Elena Kagan, the rest of her colleagues are Supreme technophobes. Because “[t]he court hasn’t really ‘gotten to’ email,” they still pass handwritten memos to each other. [Associated Press]

* “[I]f we don’t get some relief we might as well close our doors.” Thanks to sequestration, budget cuts to the federal judiciary have resulted in layoffs in the Southern District of New York. Sad. [New York Law Journal]

* Kodak’s Chapter 11 reorganization was approved by Judge Allan Gropper, who called the affair “a tragedy of American economic life.” He must’ve had fond memories of getting other people’s pictures. [Bloomberg]

* Bankruptcy lawyers for corporate debtors are going to have to crack down on churning their bills. Starting in November, they will be subject to additional rules, and even (gasp!) fee examiners. [WSJ Law Blog]

* Guardian reporter Glenn Greenwald’s partner, David Miranda (because of course his surname is Miranda), has lawyered up after his unusual nine-hour detainment at Heathrow airport this weekend. [Am Law Daily]

* So long, Nuts and Boalts: Christopher Edley, dean of Boalt Hall, is taking a medical leave and cutting short his term as the school’s leader at the end of the year. [Bottom Line / San Francisco Chronicle]

* “We’ll take him.” Indiana Tech Law School opens today, and its founding dean is very excited to add a 33rd student — one who was admitted yesterday — to the school’s inaugural class. [National Law Journal]

* Eugene Crew, co-founder of the firm once known as Townsend and Townsend and Crew, RIP. [Recorder]

Well, Bausch and Lomb is finally being sold. Oh, there will be some time between now and the closing, but yesterday’s announcement of 800 million dollars in cost cutting would make any in-house attorney nervous.

The cuts are to come largely from the front office and management, all places where lawyers are part of the organization. I know several good people who face a period of real uncertainty as Valeant performs assessment after assessment of where cuts can be made, and then begins to swing the axe.

My town of Rochester has seen more than its fair share of decline in the last decade. Eastman Kodak is a shell of its former self, and now B&L is going to be owned by a Canadian concern; at least, if true to Canadian tradition, they’ll be “nice” about the cuts, right?

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What is this, I don't even...

* It looks like the Biglaw buzzwords for 2012 are “challenge” and “uncertainty.” Good! Great! Grand! Wonderful! Speaking of uncertainty, where are the spring bonuses? [Thomson Reuters News & Insight]

* Kodak got the go-ahead for a $950M bankruptcy financing deal. Just think, if you had taken pictures using a film camera instead of a digital one, we probably wouldn’t be telling you about this. [Bloomberg]

* Rod Blagojevich will report to prison for his 14-year sentence on March 15, and he hopes to do so with “dignity” (i.e., no cameras). But you can be damn sure he’ll have his hair did, just in case. [Chicago Tribune]

* To be fair, the University of Maryland School of Law doesn’t really have time to worry about that parking job. The university might have to pay up to $500K in legal fees thanks to a lawsuit filed by the school’s environmental law clinic. [National Law Journal]

* Duncan Law’s got 99 problems, and another lawsuit is one. In addition to the school’s troubles with the ABA, a law student is suing because the school “negligently allowed her to enroll.” [Knoxville News Sentinel]

* George Seward, the founding partner of Seward & Kissel, has died at the age of 101. RIP. [Businessweek]


This column will be published the day our year-end numbers are made public. Word on the street (and the Street) is that we should beat expectations. If true, that would be a very good thing. This isn’t inside information; it’s been opined and published in several national media outlets, and in any event, I am not on the side of the house that has access to that information. I get the comuniques at the same time as everyone else. Luckily, I’ve been here in times of growth. That said, I have colleagues across town experiencing a very different situation.

The downfall of Eastman Kodak can be attributed to many things, and the failure to exploit its own invention of digital photography is chief among them. However, this isn’t a piece pointing the finger of vision opacity just at Kodak. The statement above this column is attributed to Steve Jobs after he viewed a mock-up graphic user interface (“GUI”) invented in Rochester, New York. The company that invented the prototype failed to capitalize on the invention, and the story goes that Jobs stole/borrowed/utilized the idea. We all know where that led. That same company also invented the computer mouse, and again didn’t capitalize on the invention. Stories like these are legend in the field of technological advancement.

What is it that causes companies, which are often on the cutting edge of technology, to miss opportunities that, in hindsight, seem so obvious?

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