He's right. The problem with Kodak is they never took digital seriously. In the early days (late 90's), they were producing some pretty sophisticated camera backs for their time. They were incredibly expensive but had fairly low resolution. But when good sensors started to become available, they stopped production to concentrate on consumer cameras. Problem is their cameras are not so hot. They don't market them well, have few innovations to show for. Apart from film and medical devices, Kodak doesn't produce anything for the professional and fanatic amateur. At the same time people were going digital, they were spending millions promoting the APS format and loading the market with them... It was a bunch of good ideas and a really bad format at the wrong time.
My guess is Kodak will be split by division (medical, film, digital...) and have the debt split across all divisions. If they don't do so, I better hang on to all the Big Yellow gizmos I have... they'll be worth some coin in the not so distant future.