The Eastman Kodak Company, once the world's largest seller of camera film, is preparing to file for Chapter 11 Bankruptcy, according to news reports. The filing would allow Kodak to restructure and continue operating but could mean layoffs for some of the company's 19,000 employees, most of whom are based in Rochester, New York. The news also raises questions about the success of CEO Antonio Perez's strategy to position the company as a seller of printers. Kodak, which was founded in 1892, has... Read More
Outdoor clothing company Patagonia on Tuesday made legal its belief in social responsibility when it took advantage of a new California law that allows for-profit companies to register as "benefit corporations." The designation was created to protect companies from shareholder lawsuits in the event that a socially or environmentally conscious business strategy—for example, urging consumers not to buy new outdoors clothing—comes at the expense of profits. In November, Patagonia la... Read More
The China Air Transport Association (CATA) says that its members will not comply with a European Union tax on airline carbon emissions that took effect January 1. Chinese airlines could face fines for each ton of unregulated carbon emitted and could even be banned from operating in EU countries. In 2005, the EU passed an initiative to tax all flights passing through member airports based on their carbon emissions. Last December, the European Court of Justice threw out a suit by U.S. and Canadi... Read More
Austria's Marlies Schild took a fifth-straight World Cup slalom win on Tuesday in Zagreb, Croatia, in the process notching the 32nd slalom victory of her career and edging closer to the all-time slalom record. Schild needs only two more victories in slalom to top Vreni Schneider's 34 career slalom titles, and could challenge Janica Kostelic's record of eight consecutive slalom wins, set in 2000-2001. U.S. skier Lindsay Vonn overcame the flu to finish ninth and retain her overall lead in World ... Read More
A motorcyclist is in critical condition after being found unconscious on a sand dune during the Dakar rally in San Juan, Argentina on Tuesday. Sebastien Coue's body temperature was above 104 degrees Fahrenheit, presumably from sun exposure, when he was discovered. The accident follows the deaths of a motorcyclist and a father and son following the race in an ultralight aircraft in separate crashes on Sunday.
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