Kodak has filed for bankruptcy protection. From what I've read all over the internet, employees and management consultants gives similar explanation, that they brought it upon themselves. I don't deny that they have great products, but that alone won't make them successful forever. They need to take care about other things like marketing, customer relationship, etc.
Its sad to see their decline, but I really think technology will eventually fills in the gap that film left. I think the only thing that digital have to catch up is the highlight roll off. Many people talking about film color rendering, but with a good color profiling, that should be no problem. That being said, the best time to live is now, its time to move on.
Or watch a movie.. Midnight in Paris, starring Owen Wilson. :)