This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Rochester's Rise Amid Kodak's Demise

Part 3 in a series about Eastman Kodak

ROCHESTER, N.Y. (TheStreet) -- Sandy Parker stepped into an elevator with a man and the two struck up a brief conversation about Rochester, N.Y.

"Eastman Kodak, is there anything left of your town?" the man asked.

"It was tough, emotionally," Parker said, recalling how she felt when the company filed for bankruptcy.

Parker is chief executive of the Rochester Business Alliance and has been actively involved in the business community there since the 1980s. She helped place workers who were part of the first massive Kodak cuts in 1983 and still keeps an eye on the former photographic filmmaker's emergence from bankruptcy.

Jim Senall, who is involved in supporting Rochester start-ups, said he had a similar experience when close relatives -- his brothers -- asked him on the day of the bankruptcy how Rochester could survive.

But when asked if Detroit's tumble and bankruptcy foreshadows Rochester's fate, Senall and Parker raise eyebrows and grin.

Since the peak of Kodak's hiring in the 1980s, when it employed more than 60,000 people in Rochester, total employment in the metropolitan area has risen to some 520,000 from about 414,000. The population of the area has grown to about 1.1 million from 971,000.

Kodak's multi-decade fade and its descent into bankruptcy didn't spell an end to Rochester, known affectionately as the "Flower City." Unlike Detroit's plight thanks to the decline of the U.S. auto industry, the agonizing fall of Rochester's corporate icon may be supporting an emerging renaissance.

The city's sprawling hospitals, major universities and a burgeoning high-tech manufacturing sector trace their roots to Kodak or its founder George Eastman.

These industries create the spine of a city that today employs more workers and has a larger population than it did at the height of Kodak's power. And it's why Senall, the president of non-profit High Tech Rochester, calls Kodak's bankruptcy a "nonevent" to most Rochestarians.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs