To understand what happened to Polaroid, a once extremely successful corporation completely free of debt, it might help to identify who was operating the crane that slung the wrecking ball.
Read the comments in this article from the Boston Globe.
Most of the blame seems to be centered on Gary T. DiCamillo who served as CEO for seven years from 1995-2002.After DiCamillo, there was --
Jacques A. Nasser, who had been fired by Ford Motor. He walked away with a reported $10 million in severance pay after about a year in 2002.
And then, pigging out at the trough --
The rest of the litter who sold a company $1 billion in debt to Petters Group Worldwide for $426 million.
They walked away with millions but employees lost their pensions and ended up with $42.
Read the comments. You won't find that kind of thing in most business articles.
