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    Kodak Calls Bankruptcy Filing 'Necessary Step'

    "Running short of cash and unable to sell 1,100 digital imaging patents that could have rescued it," as Rochester's Democrat and Chronicle writes, Eastman Kodak Co. today took the long-expected but still painful step of filing for Chapter 11 bankruptcy protection.

    As The Associated Press says, this raises the specter that "the 132-year-old trailblazer could become the most storied casualty of a digital age that has whipped up a maelstrom of economic, social and technological change."

    According to the Democrat and Chronicle, Kodak CEO Antonio Perez called the decision "a necessary step and the right thing to do for the future of Kodak."

    In its court filing, which is posted here, the company says it has assets totaling $5.1 billion and debts totaling $6.8 billion. Ironically, many of its assets are patents for digital innovations that Kodak pioneered — but were then capitalized on by competitors.

    In Rochester, where Kodak is based, "retirees, shareholders, management all could be bankruptcy losers," the Democrat and Chronicle adds. Perez has assured the company's approximately 18,000 employees around the world that "Kodak expects to pay employee wages and benefits" as it restructures, the newspaper says.

    The Wall Street Journal has an interactive "history of Kodak" timeline posted here.

    Copyright 2012 National Public Radio. To see more, visit http://www.npr.org/.

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    Opulent And Apolitical: The Art Of The Met's Islamic Galleries

    Navina Haidar, an Islamic art curator at the Met, says she isn't interested in ideology: "The only place where we allow ourselves any passion is in the artistic joy ... of something that's beautiful."
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    Tired Of The Seoul-Sucking Rat Race, Koreans Flock To Farming

    More than 80 percent of people in South Korea live in cities. But in the last few years, that has started to change. Tens of thousands of South Koreans are relocating to the countryside each year.
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    How EPA Rules Would Hit Coal-Heavy West Virginia

    Host Melissa Block speaks to West Virginia University law professor James Van Nostrand about the impact of EPA power plant rules in his state.
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    Hope Or Hype: The Revolution In Africa Will Be Wireless

    Young entrepreneurs in Africa say that they're leading a tech movement from the ground up. They think technology can solve social ills. But critics wonder if digital fixes can make a dent.

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