pbahra writes: "Kodak’s declaration of bankruptcy earlier this month closed a glorious chapter in the history of photography. With the introduction of the first automatic snapshot camera more than 110 years ago, Kodak transformed photography from an alchemy-like activity dominated by professionals into a hugely popular one that became an integral part of people’s lives. Photography had been mostly confined to professionals who took formal portraits in studios. Kodak got photography out of studios and into family life. Understanding how it did this is vital to grasping the reasons for its failure. Thus, when digital technology arrived in the photographic industry, Kodak inhabited a world that was largely its own creation. There was no one more steeped in it than Kodak. This became obvious to me when I spent a day with Kodak’s top management in their Rochester headquarters in the U.S. about 11 years ago. But by the end of the day, I was convinced that this company was not going to be around much longer. Here are the top five reasons for Kodak’s demise:"