“Kodak’s other structural problem is geography. When you study the history of great American companies that stumbled and failed, or only partially recovered, you see how difficult it is to overcome the mindset of your immediate surroundings. Businesses located in places where success is the norm, and innovation is built into the ecology, have a better chance of fixing themselves.”

Rich Karlgaard: Kodak Didn’t Kill Rochester—It Was the Other Way Around - WSJ.com