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Kodak, the 131-year-old photography pioneer, filed for bankruptcy on January 19th 2012.Eastman Kodak announced early this morning that filing for Chapter 11 bankruptcy was “the right thing to do for the future” of the company.In a statement, Kodak CEO Antonio Perez said company leadership decided the move was “a necessary step.”Innovation Trail has followed the story over the course of 2012.

Kodak axes President and CFO, and Cuomo says no pressure for immediate fracking decision

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Welcome to Monday afternoon refreshments from the Innovation Trail team.

Kodak is to shed another 1,000 jobs by year's end and hopes to save $330 million dollars in the process reports the Democrat and Chronicle's business reporter Matthew Daneman.

There will be lawsuits not matter what the decision on fracking, says Governor Cuomo.

Government 

Governor Cuomo says that he's not putting any pressure on the DEC to come out with a decision on fracking reports Jessica Bakeman from Gannett's Albany bureau.

He goes on to acknowledge that whatever/whenever the decision there will be lawsuits involved. The Innovation Trail's Marie Cusick reports on what those likely legal avenues will be.

Wxxi.org has a special lineup of background reporting on the issue starting Tuesday.