Kodak stock has been punished since they announced they were going digital. I have received several dozen hits over the last week from people searching for "kodak strategy", so I thought this would be a good time to add to my earlier comments. Basically, I applaud them for trying to get out of the film market now, while there still is a film market. It's late, but they still have a chance to use some of the cash flow from film to find a new business. However, I think digital photography is way too competitive. If I were in charge, I would start thinking about buying other companies, becoming a conglomerate over the next 5 years, then figuring out which of the businesses I bought are doing the best and expand from there. Conglomerates are tough to run, but look at Berkshire Hathaway – it used to be a textile plant. It can work. I only suggest it because acquisitions often fail, so testing the waters in several industries gives Kodak a chance to figure out what new things their management teams can do well.