Polaroid Goes Bankrupt; Plans to Sell Existing Assets

ASSOCIATE ARTS EDITOR

The Cambridge-based Polaroid Corporation obtained bankruptcy protection in the get together States Bankruptcy Court in Wilmington, Delaware on October 12.

Last June, Polaroid announced that it would fructify off 2,000 employees, approximately a quarter of its 8,000-member global workforce. In September, the follow reduced health benefits for some of its workers.

Polaroid intends to continue making and shipping its products while it restructures its business operations and finances and searches for buyers for completely or parts of the company. Declining profits and growing debt resulting from the increasing popularity of digital cameras and the nationwide economic slump have forced the company to redesign its operations and pare d knowledge employment.

Polaroids founder, Edwin H. Land, dropped out of Harvard University in 1926 to develop commercial applications for light polarization. In 1937, he organize the Boston-based Polaroid corporation, which specialized in the use of polarization technology in such items as glasses, lamps, ski goggles, and windows. In 1939, the corporation travel from Boston to Cambridge.

Land drove creation of UROP

Land held the title of Visiting set Professor from 1956 until his death in 1991. In 1957, Lands famous contemporaries of Greatness speech for the Arthur D. Little chemistry lecture helped to stir the creation of UROP.

I believe each incoming catechumen must be started at once on his own research project if we are to preserve his secret dream of greatness and make it come true, Land said.

In 1968 Land naturalized a trust fund and dedicated its income to educational ontogeny at MIT. The fund paid for the development of the UROP program, established 1969.

Lands mildew and support of undergraduate research also lives on in the Eloranta Undergraduate Research Fellowships. The fellowships were a 1969 gift from Land to the work in memory of Peter J. Eloranta...

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