Polaroid Corp., the twice-bankrupt pioneer of instant photography whose brand name may be its most valuable asset, must try again to auction off its assets after failing to win a judge’s approval for a $56.3 million sale.Fifty-six million. Wow.
Of course, even ten or fifteen years ago, it was obvious the company was in trouble -- their product had been rendered obsolete by digital photography. They were milking film sales desperately. A company that had been a technology leader had not come up with anything new in a long time. They should be a good case study on how not to react to disruptive new technologies.