Polaroid has today announced that, "U.S. Bankruptcy Court has approved procedures for the proposed sale of its business to an investor group led by One Equity Partners -- the private equity arm of Bank One Corporation) - or to a bidder with a higher or better offer. The court has set Friday, June 28, 2002, for a final hearing on the sale." They go on to say, "This is an important milestone in our plan to emerge from Chapter 11. We remain committed to securing a strong buyer for the company to maximize value for our creditors and to create a new beginning for Polaroid as an ongoing business."
Press release 7/May:
Court Sets Polaroid Sale Hearing for June 28, 2002
CAMBRIDGE, Mass., -- May 7, 2002 - Polaroid Corporation announced today that the U.S. Bankruptcy Court has approved procedures for the proposed sale of its business to an investor group led by One Equity Partners -- the private equity arm of Bank One Corporation (NYSE: ONE) - or to a bidder with a higher or better offer. The court has set Friday, June 28, 2002, for a final hearing on the sale.
Gary T. DiCamillo, Polaroid chairman and chief executive officer, said, "This is an important milestone in our plan to emerge from Chapter 11. We remain committed to securing a strong buyer for the company to maximize value for our creditors and to create a new beginning for Polaroid as an ongoing business."
DiCamillo to Leave Polaroid Corporation For CEO Appointment at TAC Worldwide
CAMBRIDGE, Mass., -- May 8, 2002 -- Polaroid Corporation announced today that Gary T. DiCamillo, chairman and chief executive officer, will resign effective July 1, 2002 to become president and chief executive officer of TAC Worldwide Companies, based in Dedham. He will continue in his position at Polaroid until that date, and then remain as a member of the Polaroid board of directors.
DiCamillo said, "I feel a responsibility to see Polaroid through this crucial period of its reorganization and to help prepare the company to emerge from Chapter 11 as an independent company ready for new ownership and new growth opportunities. This is a time of new beginnings both for Polaroid and for me personally as I assume the job of CEO at TAC Worldwide, one of the largest private corporations in the United States.
"I will leave with sincere thanks to the strong management team at Polaroid, to the many employees with whom I have been privileged to work, and to a loyal and independent board of directors," he said.
DiCamillo joined Polaroid as chairman and chief executive officer in October 1995. Prior to that, he served as group vice president of the Black & Decker Corporation and president of Worldwide Power Tools and Accessories.
Board member Alfred M. Zeien, retired chairman and chief executive officer of The Gillette Company, said, "We have been fortunate to have Gary remain to guide the company over this long, difficult period."
Another member of the board, John W. Loose, former president and chief executive officer of Corning Incorporated, said, "Gary has been steadfast in fulfilling the Board's wishes that he remain CEO. He has earned our gratitude, and we wish him only good things in the future."
Sal Balsamo, founder of TAC and co-chairman of the company's board of directors, stated, "To attract someone of Gary DiCamillo's professional and personal excellence to head our company is indeed our good fortune. Gary's leadership expertise, as well as his abundantly fine character, will provide TAC with steadiness and strength as we move forward in years to come."
|Patrick Finds Inner Peace by ecastellon|
from Your best photo of the week!
|Forks by Kukla|
from Arranged everyday objects
The new iZugar 3.25mm F2.5 super fisheye lens offers an insane 220-degree angle of view. That means it can basically see behind itself... good luck keeping your feet out of the shot.
You'll laugh, you'll cry, you'll remember that time you took a picture of the frozen pizza baking directions.
A Craigslist poster has discovered the worst possible way to photograph a car: taking pictures of pictures displayed on a cracked and scratched up smartphone screen.
With the iPhone X coming out soon, the title probably won't last, but the iPhone 8 Plus is officially the best smartphone camera DxOMark has ever tested, and the iPhone 8 is second.
Kodak's new Facebook Messenger chatbot is trying to bring back the 'Kodak Moment' by digging up your old social media photos and trying to sell you prints and custom coffee mugs.
Affinity Photo for iPad was touted as "the first full blown, truly professional photo editing tool to make its way onto the Apple tablet." This update makes it that much more convenient.
Yashica has released a new teaser video, and this one claims they'll be releasing an "unprecedented camera" in October on Kickstarter. Ready... set... speculate!
Storage solutions company Synology has just released its very first 6-bay NAS tower. Combined with the DX1215 expansion units, it can hold and control up to thirty drives.
We're always expanding our collection of product overview content, and we've just added videos for the Canon EOS 6D Mark II, the EOS Rebel SL2 and EOS M6.
The venerable Canon PowerShot G1 was announced seventeen years ago this week, marking the start of a line of enthusiast-focused compacts that's still alive and kicking.
Super macro photographer Can Tuncer captured these incredible close-ups of a single peacock feather using a special setup and three different microscope lenses.
After successfully crowdfunding the Biotar 75mm F1.5, Oprema Jena is at it again. This time they're bringing back the Biotar 58mm F2: the world's only lens with a 17-blade aperture.
Adobe's move to a subscription model is treating it very well indeed. The company has posted record revenue for the second quarter in a row, hauling in a mind-boggling $1.84 billion.
More details have emerged about the potential sale of Blackstone's 45% stake in iconic camera brand Leica.
Popular mobile editing app Snapseed just got a major update that includes a new interface and 11 new presets for both Android and iOS, as well as adding the Perspective tool to the iOS version.
It might sound like a strange idea, but taking macro photos of boiling water can actually result in some really cool photographs. A good photo experiment for a rainy day.
The database was created to "break with the narrow lens through which history… has been recorded" by equipping those who commission photography with "the resources to discover photographers of color available for assignments.
Lensbaby has released two new optics for their special "optic swap system." The Lensbaby Sweet 80 Optic gives you that trademark sweet spot of focus, while the Creative Bokeh optic gives you 9 different drop in aperture plate options to play with.
TechCrunch has already posted their review of the upcoming iPhone 8 (not yet the iPhone X), and they're calling it "a look into the augmented future of photography."
Affinity Photo is a $50 photo editing software with no subscriptions. That's it – pay for it once and you're done. And we think it's actually pretty darn good.
Instagram is currently testing a major change to the app's profile layout: replacing the 3-photo across grid with a 4-photo grid... and some users are NOT taking the news well.
A report by USSRPhoto is shedding some light on the return of the famed Zenit camera brand. It seems the full-frame mirrorless camera they're working on will be made in part by Leica using components from the Leica SL.
According to a reliable Korean report, Samsung is developing a smartphone sensor that's capable of super slow motion. Translation: Samsung's next batch of Galaxy smartphones may be able to shoot 1,000fps.
This simple photograph of a seahorse and Q-tip has taken the internet by storm. We spoke to photographer Justin Hofman about how it was captured, and what it means to him.
After a massive leak last week, Profoto has officially debuted the Profoto A1: the company's first on-camera flash system that they're calling "the world's smallest studio flash."
"When the first hyperfocal distance charts were designed, someone decided that an acceptably sharp background contained some blur — enough to notice in a medium-sized print [...] After that point, nearly every other hyperfocal chart followed suit."
The Canon EOS Rebel SL2 (also known as the EOS 200D) is the company's impressively compact entry-level DSLR. Packing a 24MP APS-C sensor, DIGIC 7 processor and Dual Pixel AF, it promises a lot of bang for the buck. And while not mind-blowing, it handles most tasks very well.
Correct these four common composition mistakes and your photos will be more balanced, tell a better story, and lead your viewer's eye where you want it to go.
The rugged, compact 360° action camera Kodak unveiled at Photokina in 2016, the Kodak PixPro Orbit 360, is finally available in the United States.
iOS 11 launches tomorrow, and it'll save all of your pictures in a new high efficiency image format called HEIC. Fortunately, there's now a converter that will let you turn those photos back into JPEGs.