Wait 60 seconds and say goodbye

Polaroid announced in a press release that they have filed for chapter 11 protection as they reorganize. They say they are restructuring and have plenty of cash and that they arent going anywhere:
"Our operations are strong and during this process Polaroid will ship products to our retail partners, work with our suppliers and contract manufacturers to fulfill retailer demand, honor customer warranties and employees are expected to receive their regular paychecks without interruption. We expect to continue our operations as normal during the reorganization and are planning for new product launches in 2009."
Apparently they have been another victim of the scams and deception that have defined Big Business in the U.S. in recent years:
"Polaroid's financial condition was compromised by the apparent fraudulent acts perpetrated by the founder of Petters Group Worldwide, Polaroid's parent company, and certain of his associates. Petters Group Worldwide has owned Polaroid since 2005 and an affiliated company, Petters Companies Inc., also has financial ties to Polaroid through Petters Group Worldwide."
We'll see, I doubt there will be any goverment bailout of the Instant Film Industry, maybe they need better lobbyists....
Link: Georges SX70 Page
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