There's an article out right now, showing the companies that won't likely come back from the 2008 financial crush.
One of them is, as the title says, our own Sprint company is one of them:
"24/7 Wall St. has compiled a list of these companies that won't be making comebacks -- names that you know well, but that will never be leaders again."
What they have to say about them:
Sprint finally posted some reasonably good results recently. However, these could not mask the fact that the No. 3 wireless carrier is too small to ever really compete with AT&T and Verizon Wireless.
Sprint's $35 billion Nextel purchase in 2004 can be seen in retrospect as a key blunder. Their networks ran on different platforms, and integration issues drove customers away from the combined company. Sprint made the MSN "Customer Service Hall of Shame" several times, most recently in 2010. Its customer service has improved significantly since then, but the damage had been done.
Sprint's revenue has fallen from $41.1 billion in 2007 to $33.7 billion last year. It now has about 50 million subscribers to Verizon's 104 million and AT&T's 95 million. As a Morningstar researcher recently noted, "While Sprint has struggled, Verizon Wireless and AT&T have benefited at its expense. Fending off these much larger rivals will be increasingly difficult as data services become more important to the industry."
Not good. Not good at all.
Some of the other companies: Band of America, Dell Computer, Barnes & Noble and The New York Times.
Link: http://www.dailyfinance.com/2012/08/01/9-great-american-companies-that-will-never-recover/?icid=maing-grid7%7Chp-laptop%7Cdl2%7Csec1_lnk3%26pLid%3D188353#photo-6
Posts
2 comments:
There were a few companies that didn't appear on the list and appear heading for the grave yard and they are sears, best buys k-mart and I agree with the other readers that face book should be included. The latter company was over-hyped and price was insane and it started to take on water very quickly. You will know them by their fruits.
Good points on all those companies, unfortunately for them and their employees. And Facebook, well, that will just take a longer amount of time. In the meantime, Mark Zuckerberg made a whole lot of money, didn't he?
Post a Comment