Could we...Should we, make a Kodak vs Polaroid corporate comparison?

Polaroid went through two bankruptcies; a reorganization in 2002(?), and a liquidation in 2008(?), IIRC.
There are far more traditional film users in 2012, (market demand), then there were instant-film users in 2002 and 2008.
Polaroid had far worse corporate executives, (and a very limited, [dead] product line) then Kodak ever had.
Then...and now!

As with many companies in these trying times, Kodak needs to reduce their legacy costs, ie; retirement and health care.
We have seen the same reorganization happen with the major car manufacturing companies, airlines, and other [big-board] companies.

The sky is not falling. It's a bit cloudy, for sure, but Kodak's film division will survive for a long time to come.