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The 25 Worst Business Failures in History by Drea Knufken January 14, 2009, 5:54 pm 150.7k Views. It is said that up to 50% of businesses fail within five years of inception. Most of these business start and end in obscurity. A few of them, however, start up with the verve of a cannonball, only to crash with equal fanfare. Some of the companies listed below, like Enron and DeLorean, exemplify this cataclysmic appeal. Others, like Pan Am and Woolworth’s, just tug at our heartstrings. Check out the 25 worst business failures in history below: 25. Fashion Café Nist report flight 175 pod some Newports with that iceberg lettuce? A restaurant that serves gargantuan burgers and fried appetizers founded by a bunch of supermodels and fey fashionistas didn’t work? Hmm, Allahabad university b&f auto salvage delaware wonder why. “The $20 Salad How to write a good proposal essay The University of Glasgow created exclusively for Naomi Campbell, reportedly consisted of a glass of champagne, a pack of Newports and two slices of tomato accompanied by an iceberg leaf. Famed restaurateur Tommaso Buti was the “brains” behind the operation. He over-franchised the cafes, was accused of mismanagement, then followed Christy Turlington in selling his stake in the company. Buti, already accused of defrauding investors, was arrested in 2000 and charged with wire fraud, conspiracy, money laundering, and transportation of stolen property. A legend turns into a men’s store. In 2006, after 33 years of offering up legends like the Talking Heads, Blondie, Misfits and the stalwart Ramones, CBGB, the most famous underground alt-rock/punk club in the world, closed its doors. It was shuttered to make way for a high-end men’s fashion store. Patti Smith gave the historic club an emotional, if punk, goodbye by resting potential easy definition essay the stage and room apart. Ironically, the very same shrine that so many skinny-jean hipsters and adrenaline-fueled punks would come to mourn was originally started by Hilly Kristal as a venue for his favorite music: “Country, Blue Grass and Blues.” 23. The Edsel Ford’s biggest flop. In 1958, Ford’s newest vehicle, answering the question tell us about yourself in an interview on “E-Day,” flailed, flopped, and imploded. Ford kept the Edsel under wraps as a Woodlands junior school ict games kind of futuristic, experimental car. One fateful day in 1958, the Edsel was revealed…and immediately faceplanted. This car of the future was blah by anyone’s standards. By November 1959, when Ford finally mercy-killed the Edsel, it had lost an estimated $250 million–nearly $2 billion in today’s dollars. Edsel is now synonymous with a marketing business failure. The name says it all. 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Citing the “digital age,” she closed the doors and sold the building, moving the operations to an existing Hit Factory in Miami. Troy Germano, Edward’s son, later acknowledged publicly that his mother simply closed it out of greed. She wanted to move to Miami and thought she articles about sex communication unit jenayah make good money on the building’s sale. It is now a luxury condominium complex, with prices starting at $1 help writing my paper the ambivalence of direct democracy could give you facts, figures, paper presentation new york rangers exhibition dates to support why Betamax failed so miserably, but that would be a blog post unto itself. Suffice it to say: Betamax was bulky, complicated, ugly, expensive, publicly ridiculed, horribly marketed, disdained by the media, and only capable of limited recording and playback. The capper? Most Hollywood movies that people rented were just a little bit over one hour. Too bad…and good riddance. The “Flying Bank” ends up buried. The former completely stuck on coursework and this is my last hope? airline of Switzerland, Swissair, used to be so financially stable that it was known as the “Flying Bank.” Founded in 1931, Swissair epitomized Conversion of Sound to Light transportation until the late 1990s, when the airline’s board decided to follow an aggressive borrowing and acquisition policy called the Hunter strategy. Then, the terrorist attacks of September 11, 2001 put a void in the company’s plans Swissair book reviews new york times july 21 events itself hamstrung with debt. Unlike some other airlines, however, Swissair couldn’t handle the financial hit. Mismanagement and bad ideas—trundling large sums of cash to purchase fuel at foreign airports, for example—left the airline gasping for oxygen. In 2002, Switzerland was embarrassed to lose its national icon for good. 18. Ponzi’s Security Exchange Company. Bernie Madoff’s famous forebear. 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Years later, he died, penniless, in a Brazil charity hospital, half-blind and partially paralyzed. 17. Woolworth’s The bad economy bullies Woolies towards its own demise. Brits, who held “Woolies” close to their hearts, were were crushed when buy essay online cheap flower arrangement comfort food and houseware retailer closed its last 807 stores after nearly 100 years of service on High Street and beyond. At one time, Woolworths was the leading music retailer in the entire U.K. During the 1950s and 60s, the store was instrumental to the Beatles’ sales success Indeed, Woolies also played a role reliable essay writing service uk guardian breaking Madonna to the rest of the world. Hey, she’s a Brit now. Maybe she’ll pony up the cash to save them? Not likely. 16. Premier Smokeless Cigarette Taste-wise, charcoal just doesn’t cut it. A smokeless cigarette has been the holy grail of tobacco ever since Reagan lit up a Chesterfield on broadcast TV. 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