What happened to Eastman Kodak?

It's still alive : http://en.wikipedia.org/wiki/Eastman_Kodak

As the son of a former corporate director I will sum it up for you by saying arrogance and stupidity and failure at a negligent degree caused them to go from 85,000 down to 5,000 employees. First Fuji Film began to outsell them on film then they didn't enter the digital Photography market until late in the race even though they had the technology before anyone else did but chose to shelf it.