A majestic building still dominates the skyline of Rochester, N.Y., the word "Kodak" shining brightly from the top. It's the legacy of George Eastman — the founder of the Eastman Kodak Co. — a company that helped Rochester thrive and gave it the nickname "Kodak Town."
In 1976, Kodak sold 90 percent of the film around the world. The company basically invented digital photography, but it couldn't figure out how to make the transition from film quickly enough to out-compete its Asian rivals. Of the 20 best-selling digital cameras in the U.S., not a single one is from Kodak.