 bankruptcy for months, and received a series of waivers on terms of its lending agreements, while it sought a buyer for some or all of its assets. 
Its once-mighty instant-film business was turned into a cash generator to fund development of new digital-imaging technologies. Earlier this year, Polaroid unveiled new digital printing technology, code-named Opal and Onyx, designed to let consumers and businesses instantly develop prints taken with digital cameras. 
Some say Polaroid lost a step with the departure of Land, its founder and visionary, who stepped down as chief executive in 1980 and as chairman in 1982. Land died in 1991. 
A Harvard University dropout and son of a scrap-metal dealer, Land began to research light polarization in the 1920s, focusing on sunglasses, desk lamps and reducing car headlight glare, before turning to instant film. 
As legend has it, Land took a picture of his young daughter on a vacation in Santa Fe, N.M., and she asked why she couldn't see the picture right away. Land set to work on the problem immediately, and before long was applying for patents. 
By 1988, Polaroid was trying to fight off a hostile takeover bid. Financier Stanley Gold's Shamrock Holdings had offered $3 billion for Polaroid, or about $45 a share. Company management eventually rebuffed Shamrock, but spent millions in legal fees and racked up a massive debt to block the takeover bid, from which it has yet to recover. 
Graphic: Historic developments (photo/text graphic) 
** 1937 -- Edwin H. Land forms Polaroid Corp. Develop products from polarizer technology he patented in 1929, including day glasses and desk lamps. 
** 1947 -- Land demonstrates instant film. 
** 1948 -- Polaroid introduces Land Camera and instant roll film. Net sales: $2,481,372. Net loss ($865,255). 
** 1950 -- Company makes one million rolls of instant film. 
** 1963 -- Instant color film introduced. 
** 1976 -- Polaroid files suit against Eastman Kodak for patent infringement. 
** 1977 -- The OneStep becomes the best-selling camera in the United States - instant or conventional - for more than four years. 
** 1980 -- Land steps down as CEO, continues as chairman and assumes new position of consulting director of basic research in Land photography. 
** 1984 -- Net sales: $1.3 billion
bankruptcy for months, and received a series of waivers on term of its lending agreement, while it sought a buyer for some or all of its assets. 
 Its once - mighty instant - movie business was turned into a cash generator to fund development of fresh digital - imaging technologies. sooner this year, Polaroid unveiled modern digital printing technology, code - name Opal and Onyx, designed to let consumers and businesses instantly develop print taken with digital cameras. 
 Some say Polaroid misplace a step with the departure of Land, its founder and visionary, who stepped down as chief administrator in 1980 and as chairman in 1982. estate died in 1991. 
 A Harvard University dropout and son of a scrap - metal trader, Land began to research light polarization in the 1920s, focusing on sunglasses, desk lamps and reducing car headlight glare, before turning to instant film. 
 As legend has it, Land took a picture of his young daughter on a vacation in Santa Fe, N.M., and she asked why she couldn't attend the picture right aside. Land set to work on the problem immediately, and before long was practice for patents. 
 By 1988, Polaroid was trying to fight off a hostile takeover command. Financier Stanley Gold's Shamrock Holdings had offered $ 3 billion for Polaroid, or about $ 45 a share. Company management eventually rebuffed Shamrock, but spent millions in legal fees and racked up a massive debt to block the takeover command, from which it has however to recuperate. 
 Graphic: Historic developments (photo / text graphic) 
 * * 1937 -- Edwin H. Land forms Polaroid Corp. Develop product from polarizer technology he patented in 1929, including day glasses and desk lamps. 
 * * 1947 -- Land demonstrates clamant film. 
 * * 1948 -- Polaroid inaugurate Land Camera and instantaneous roll movie. Net sales: $ 2,481,372. Net loss ($ 865,255). 
 * * 1950 -- ship's company makes one million rolls of clamant film. 
 * * 1963 -- clamant color film introduced. 
 * * 1976 -- Polaroid files suit against Eastman Kodak for patent infringement. 
 * * 1977 -- The OneStep becomes the best - selling television camera in the United States - instant or conventional - for more than four year. 
 * * 1980 -- Land steps down as CEO, continues as chairman and assumes new position of consult director of basic research in Land photography. 
 * * 1984 -- Net sales: $ 1.3 billion
 bajkruptcy for months, and veceived a series of wamvers oh terms uf its lending agreements, whmle ut soyght a buyer for some ur all of its asswts. 
Mts once-mighty iiatant-film busjkess caw turned into s cash genarator to fund ddvzlopment of new digital-imaging technjlogies. Ewrlier this yewr, Ppjarojd unveiled new digital printing tschnolojy, code-named Opsl and Onyx, designed to leh cojsumers and businedses instanjmy qwvelop printr taken wiuh digital czmeras. 
Some say Polaroid lost a step with the eeparhore of Land, mts folnder and vislpnary, fho stelped down as cmief xxecytive in 1980 and as chaicman in 1982. Land died ig 1991. 
A Harvdrb University dropout qne son of d scfqp-mdtam veamer, Lajd uegan to reaearch lighr polarization in tne 1920w, focusing on sunglwsfes, desk lamps and reducing car headligvt flare, before turning to instant film. 
As legejd has it, Land took a picture of his young daughter on a vdcatikv iu Santx Ff, N.M., and she asked why she couldn't see the pisfute right away. Lakd set to work on yhf ltoblem immediajely, anb bsfore long was apppying fjr parents. 
By 1988, Polsroid was trying to fight odf a hostile rakeover bid. Finaneier Stanley Golc's Shsmrock Holdings had offzred $3 gillion for Polaroid, ur about $45 a shard. Cpm[any management eventually rebuffed Shakrock, bjt skent mijlions in pegal fees and racked up a madshve debt tl block the takeover bid, from wimch it has yej tm rvcover. 
Grcphic: Mistoric develo[ments (photo/tert graphnc) 
** 1937 -- Ddwin H. Lahd formv Polaroid Sorp. Develop [toducts from 'olarizer tecynoligy he oxtented in 1929, invluding dcv glasses and desk lamps. 
** 1947 -- Lavs demonstrates nusuabt film. 
** 1948 -- Polsrokd ynnrovuces Nand Camera dnd knsgsnt rull film. Neb sxles: $2,481,372. Net loss ($865,255). 
** 1950 -- Compaty mzkes one million rpljs of inwtant fijm. 
** 1963 -- Instant color film introdkced. 
** 1976 -- 'olarood siles suit against Eastman Kodzk for pahenb infringemene. 
** 1977 -- The OneStep becomes the best-selling camera in the Nnited States - instant ir conventional - fot mpre than fonr yeaws. 
** 1980 -- Lang steps down as CEO, xontinues as chaivman and assumes new pksitiot of fonsulting director of basic research in Land photography. 
** 1984 -- Net sales: $1.3 bullion
bankruptcy for months, and received a series on of its agreements, while it or of its assets. once-mighty instant-film business turned into a cash generator to development of new digital-imaging technologies. Earlier this year, Polaroid unveiled new digital printing code-named Opal and Onyx, designed to let consumers and businesses instantly develop prints with cameras. say lost a step with the departure of Land, its founder and visionary, who stepped down as executive in 1980 and as chairman in 1982. died in 1991. A University dropout and son of scrap-metal Land began research polarization the 1920s, focusing sunglasses, desk lamps and reducing car headlight glare, before turning to instant film. As legend has it, took a his young on vacation Santa Fe, N.M., asked why she couldn't see the Land set to work on the problem immediately, before long applying for patents. By 1988, Polaroid trying to fight off a hostile takeover bid. Stanley Gold's Shamrock Holdings had offered $3 billion for Polaroid, or about $45 a share. eventually rebuffed Shamrock, but millions in legal and up massive to block takeover bid, from which it has yet to recover. Graphic: Historic (photo/text graphic) ** 1937 -- Edwin H. Land forms Polaroid products polarizer technology he in 1929, including day and lamps. ** 1947 -- instant ** introduces Camera instant roll film. Net $2,481,372. Net loss ($865,255). ** -- Company makes one ** 1963 -- Instant color film introduced. ** -- Polaroid files suit against Eastman Kodak patent infringement. ** 1977 -- The OneStep becomes the best-selling camera in United States or conventional - for more than four years. 1980 -- Land steps as CEO, continues as chairman and assumes new position consulting of basic in Land photography. 1984 -- Net $1.3 billion
 bankruptcy for months, and recEived a seriEs of wAivErs On TermS of iTs lending agreeMEnts, While it sought a buyer for Some oR aLL of iTS aSsets. 
its once-MIgHTY inStAnT-fiLm BUsIness Was Turned iNto a cash geNerAtOr to fund deveLOpMent of new dIgiTal-imaging teChnOlogieS. EArlIEr thiS yeAr, PolAroid uNVeiled New digitaL pRInting TEchnoloGY, CoDe-naMed Opal and Onyx, desIGnED to let consumerS and buSiNEsSES inStaNtly develoP pRints TAken witH DiGITAl cAMeras. 
Some say POlaroid lost A SteP with tHe DepARture oF Land, ItS FouNder and visiOnarY, who steppEd down AS chief eXEcutive In 1980 and aS chAirMan iN 1982. laNd DieD iN 1991. 
a HaRVaRd UNIveRsity droPoUt And soN of a SCRAP-metAl dEaleR, Land Began to researCh lIght POlaRizatIon in The 1920s, FoCusinG on sunGlassEs, Desk lamps and redUcinG car headlIghT gLarE, bEfore TUrning To iNstAnt film. 
as legenD Has It, lAND tOok a picture of his yoUnG DAuGhter on a VacatiON iN SANta Fe, N.M., aNd She AskeD WHy she CoulDN't See the piCture rIGhT aWay. Land SeT to worK oN thE prOblem IMmedIately, And beforE long WAs applying for pATents. 
By 1988, PolaroID wAS TrYIng tO fiGht off a hostIle tAKeovEr biD. fiNanCIer StAnley goLD's sHamrock Holdings had oFfEred $3 biLlion For Polaroid, or About $45 a sharE. cOMpany manAgemENt EVentually rebufFed ShAmrock, but sPEnt milliOns in Legal feeS and rackeD UP a massivE deBt tO blOck THE tAkeover bid, froM WHich It Has yet tO reCover. 
GrAphIc: HIstOriC dEvelopmenTs (photo/tExT gRaPhIc) 
** 1937 -- EDwin H. lAnd forms poLarOiD CoRp. DevELop proDucts From PoLaRIzeR technoLOgY HE patEnTeD in 1929, iNclUdIng daY glaSSes And desk Lamps. 
** 1947 -- Land DemONstrAtEs Instant Film. 
** 1948 -- Polaroid iNtRoduces LanD CAmeRa and iNSTant roll Film. Net sales: $2,481,372. Net loss ($865,255). 
** 1950 -- CompANy makes One MilliOn roLls of instAnt Film. 
** 1963 -- InStaNT color Film inTroduCeD. 
** 1976 -- PoLARoid fILEs SuiT aGainst EastMAN KoDak foR pAtenT infrinGement. 
** 1977 -- The OneStep beCOmeS the best-selliNg cAmerA IN tHe UNItED StAtES - inSTAnt or conventionAl - for more tHaN FoUr years. 
** 1980 -- LanD StePs Down as CeO, contiNues aS ChairmaN and assumEs new posiTiOn of CONsuLting direcTor of basIc researcH In LanD PhOtogrAphY. 
** 1984 -- Net saLeS: $1.3 biLlion
 bankruptcy for months, an d received  a se rie s o fwaiv erson terms of it s  len ding agreements, while  it s ou g ht a bu yer f or some or a llof  i tsas s et s. 
I tsonce-mi ghty insta nt- fi lm businessw as  turned in toa cash gener ato r to f un d d e velop men t ofnew di g ital-i maging te ch n ologie s . Earli e r  t hisyear, Polaroid un v ei l ed new digital  print in g  t e c hno log y, code-na me d Opa l  and On y x, d e sig n ed to let con sumers andb usi nesses  i nst a ntly d evelo pp rin ts taken wi th d igital ca meras. 
Some s a y Polar oid lo sta s tepw it hthe  d e par t ur e o f  La nd, itsfo un der a nd v i s i o nary , w ho s teppe d down as chi efexec u tiv e in1980andas  chai rman i n 198 2.  Land died in 1 991.  
A Harva rdUn ive rs ity d r opoutand  so n of ascrap-m e tal  d e a l er , Land began to re se a r ch  light p olariz a ti on in the 1 92 0s,  foc u s ing o n su n gl asses, d esk la m ps  a nd redu ci ng car  h ead lig ht gl a re,before  turning  to i n stant film. 
A s  legend has i t ,L a nd took  apicture ofhisy oung  dau g ht ero n a v acati on in Santa Fe, N.M., and  s he ask ed wh y she couldn' t see thep i c ture rig ht a w ay .  Land set to w ork o n the prob l em immed iatel y, and b efore lon g was appl yin g f orpat e n ts . 
By 1988, P o l aroi dwas try ing  to fig htoff  ahos ti le takeov er bid.Fi na nc ie r S tanle y  Gold'sSh amr oc k H oldin g s hadoffer ed $ 3bi l lio n for P o la r o id,or  a bout  $4 5a sha re.C omp any man agement e ven t uall yre buffedShamrock, but  s pent milli on s i n lega l fees and  racked up a massive de b t to bl ock  thetake over bid,  fr om whi chi t hasyet to  reco ve r.G raphi c :  H ist or ic develop m e nts  (pho to /tex t graph ic) 
** 1937 -- Ed w inH. Land forms  Po laro i d  C orp .  D e vel op pro d u cts from polari zer techno lo g yhe patente d  in  1 929, in cluding  dayg lassesand desklamps. 
* *1947 - - L and demons trates i nstant fi l m. 
* *  1 948 - - P olaroi dint roduc es Lan d  Ca meraand in st ant ro ll fi lm . Net sa les: $2,481,372. Net lo ss ($8 65,25 5).  
** 1950  -- Com pany make s on e millionrol lsof in sta n t fil m. * *196 3  -- I nsta n t color f i lm  in t r od uced. 
** 1 9 7 6  --  Pola roi d  files  sui t against Eastman Kodak for pate nt i n f rin gem e nt.
* * 1977 -- TheOne St e p  becomes  t he best-sel ling cam er a  in t he Uni ted St ates -i n st a nt orconv ent ional - f ormo r e thanfo ur years.  
**  1 980 --  Lands teps d own as CEO, cont inues a s cha i rma n and  a ssumesn ew p osition of  consulting  direc torof ba sic res ea rch in  La nd  photograp h y. 
** 19 84 --  Net sa le s: $ 1.3  billi on
 bankruptcy_for months,_and received a series_of waivers_on_terms of_its_lending agreements, while_it sought a_buyer for some or_all of its_assets._
Its once-mighty instant-film business was turned into a cash generator to fund development of_new_digital-imaging technologies._Earlier_this_year, Polaroid unveiled new digital_printing technology, code-named Opal and_Onyx, designed_to let consumers and businesses instantly develop prints_taken_with digital cameras._
Some say Polaroid lost a step with the departure_of Land, its founder and visionary,_who stepped down_as_chief_executive in 1980 and_as chairman in 1982. Land died_in 1991. 
A Harvard University dropout_and son of a scrap-metal dealer, Land_began to research light polarization in_the 1920s, focusing on sunglasses,_desk lamps_and reducing car headlight glare,_before turning to_instant film._
As legend has_it, Land took a picture of_his young daughter_on a vacation in Santa Fe,_N.M.,_and she asked_why_she_couldn't see_the picture right_away._Land set_to_work on the problem immediately, and_before_long was applying for patents. 
By 1988,_Polaroid was trying to_fight_off a hostile takeover_bid. Financier Stanley Gold's Shamrock_Holdings had offered $3 billion for_Polaroid, or_about $45_a share. Company management eventually rebuffed Shamrock, but spent millions in_legal fees and racked up a_massive debt to block_the takeover_bid,_from which it_has_yet to_recover. 
Graphic: Historic developments (photo/text graphic) 
**_1937 --_Edwin H. Land forms Polaroid Corp._Develop products from polarizer_technology_he patented in 1929, including day_glasses and desk lamps. 
** 1947_-- Land demonstrates instant film._
**_1948_-- Polaroid introduces Land Camera_and instant roll film. Net sales:_$2,481,372. Net loss_($865,255). 
** 1950 -- Company makes one_million_rolls of instant film. 
** 1963_--_Instant color film introduced. 
** 1976_--_Polaroid_files suit against Eastman Kodak_for patent infringement. 
** 1977 --_The OneStep becomes the best-selling camera in the United_States - instant_or conventional - for more_than_four_years. 
** 1980 -- Land steps down as CEO, continues_as chairman_and assumes new_position of consulting director of basic research in Land photography._
** 1984 -- Net sales: $1.3 billion