Kodak Eastman Color had seen all the signs of its downfall but chose to ignore them, denied their existence, tried to sweep them under the carpet, and pretended that all was well. Well, all was not well. When things were wrong, they were wrong.
Are there Kodak Moment in our midst, when all the signs are bad, pointing in one direction, the end? And the people responsible, like the top management of Kodak, chose to ignore, to look the other way, to do more silly things thinking that the problem would go away? The problems did not go away, Kodak went away, together with its top management. Kodak Eastman Color is now history when it once controlled 90% of the photography film industry.
We have a glaring Kodak Moment in the stock market. Everything is going wrong. All the bad signs are there. All the wrong things being done to wreck the stock market like the CDOs in the subprime crisis. And those responsible are ignoring them like Kodak, not wanting to know, turning to look another way, and tried very hard to do more silly things, hoping everything would turn out well or for as long as they could hold before the roof fell on them.
The fall of Lehman Bros during the subprime crisis was also another great example of a Kodak Moment. They just did not want to know what were going wrong. By not acknowledging them, by not talking about them, there was no problem at all. But Murphy’s Law would come back to kick them real hard, that what can go wrong, or already went wrong, would fall apart below their feet.