I guess technically, he still might. Not sure exactly what his legal position is at the moment.
Either way, Petters purchased a mostly defunct Polaroid in 2005 and began licensing the name to other consumer products. I just read in Nerdular Nerdance about a new photo printer that was going to be sold under the Polaroid name.
Well, Polaroid just filed for bankruptcy. They say it won’t affect their 2009 product launches, but I guess I’d ask at this point- does anyone care?
Source: Worst Newspaper Ever

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The Petters Worldwide Empire actually includes(d?)about 60 companies. The biggest were Petters (obviously), Sun Country, and Polaroid. I’d list more but it seems the Petters Worldwide Webside doesn’t contain content anymore…