While major changes in Washington, D.C. are leading most to focus on a hopeful recovery of our economy, we can’t ignore the fact that 2010 presented us with some moments of loss. Some were predicted while others caught us off guard. Some of our losses included people, brands, and products that have been a part of our lives for decades.
Here are a few departures we’ll someday be explaining to our grandchildren.
Mr. Goodwrench
GM has decided on early retirement for Mr. Goodwrench who has represented quality service for all of the brands under the GM mantle since 1974. The figure came to represent the best of American know-how, grease-monkey style. Now, GM plans to promote service tied to each specific brand. You’ll soon see ads for individual service under each of the GM brands.
The Sony Walkman
Remember when the Walkman was the cutting edge of technology, allowing an entire generation of music lovers to listen to their favorite tunes wherever they wanted? Of course, that was before iPods, smartphones and MP3 players. The Walkman started the headphone revolution.
However Sony has manufactured its last Walkman. While you may be able to find them for sale for a while in less-developed countries, the Walkman will walk no more in the U.S.
B. Dalton Bookstores
Obviously, digital readers and the growth of online vendors has taken its toll on bookstores from coast to coast. B. Dalton, one of the nation’s largest bookstore chains has closed 798 stores located in shopping malls and other locations across the country. The chain was owned by Barnes & Noble when the ax fell.
Air America
Many believed that talk radio was once dominated by conservatives. Then Air America arrived as a breath of fresh, liberal air. Its content was decidedly progressive, starring such notables as Arianna Huffington, Robert F. Kennedy, Al Franken, Jerry Springer, Ron Reagan and Rachel Maddow. Apparently, however, liberal-speak didn’t pay the bills, and the network went dark in January of 2010.
Liz Claiborne Outlets
Liz Claiborne is closing all of its 87 outlet stores as it plans on marketing its products exclusively through JCPenney. Other properties owned by the company, including Juicy Couture, Lucky Brands and Kate Spade, will continue business as usual.
Pontiac, Mercury, Saturn and Hummer
As the American auto industry strives to weather the storm, we have lost a number of treasured car brands. GM’s Pontiac nameplate dates back to 1926 and was treasured for its high performance models like the legendary GTO. Mercury simply wasn’t that different from the Ford. The Hummer brand was originally applied to military vehicles produced by AM General, particularly the famous Hum-Vee. GM bought the rights to the name in 1998 and put out a line of street-legal vehicles mimicking the design of the military vehicles. In the wake of its reorganization, GM attempted (without success, obviously) to sell the brand, and so it joined those being retired.
U.S. News and World Report
U.S. News and World Report this year decided to become an online-only journal which means it’s simply no longer a magazine. From time to time, it will produce a few special editions. Beginning in 1933, it moved from a weekly publication to a monthly. It now becomes a none-thly
Windows XP
Many companies decided to stick with Microsoft’s Windows XP operating system after Vista was launched, complaining that the new version was bloated and buggy. Microsoft continued to provide support for Windows XP and continued to sell the product for use in very low price-point computers until late in 2010. While Microsoft will continue to support XP for several more years, the best-loved version of Windows is history.
Movie Gallery
Netflix, Redbox and streaming video have claimed yet another victim. Movie Gallery filed for bankruptcy for the second time, and subsequently announced it was closing all of its locations. At one time this rental chain had more than 4,500 outlets, second only to industry leader Blockbuster. It also owned Hollywood Video, which also shut its doors in 2010.
AirTran
AirTran entered the industry in 1992 under the name ValuJet. After a devastating crash in the Florida Everglades in 1996, it was found to have significant quality problems due to its extreme cost-cutting. After merging with Airways Corp. in 1997, it changed its name to AirTran. Southwest Airlines chose to buy AirTran in order to reduce competition and expand its services. While AirTran will continue to operate as an independent airline while the $1.4 billion transaction passes muster, it’s only a matter of time before the AirTran brand is retired.
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Yes, it’s true. Brand names and organizations continue to fall in this ever-growing chaotic economy, like a child’s dominoes on a windy day on the porch!
Reader’s Digest was once the most widely read magazine in the world. It still may be when its overseas editions are taken into account. Last August, the company took its U.S. operations into Chapter 11 to decrease debt. Widely circulated magazines like Newsweek, US News, and TV Guide have no future in America in their current form. Reader’s Digest may live on outside the U.S. and its parent company may survive. However, Reader’s Digest as it is known in the U.S. will be gone.
Blockbuster, Inc. was the national leader in the video rental business for nearly two decades. Now it is contemplating Chapter 11 to eliminate debt. Its revenue continues to fall rapidly as firms such as Redbox and NetFlix siphon off its revenue. Blockbuster has more than 6,000 stores, so it is hard to imagine that the company could disappear. Blockbuster rival Movie Gallery said in February that it would close all of its 2,400 U.S. stores. Blockbuster’s model of renting movies through physical locations has been destroyed by cable and satellite video on demand, DVDs via mail, and dispensing machines. Blockbuster may still be around as a company that has movie kiosks and a small mail and Internet-delivered content business. But its brick and-mortar business is dead.
The case against the BP p.l.c. brand is not so much that the company will enter bankruptcy. It is that BP may end up breaking into pieces for its own sake. This may be to put the liabilities for the Deepwater Horizon spill into a company that also holds escrow capital to cover the huge costs of clean-up and suits. BP may also want to separate its successful refining operations from its exploration business, or recreate an American-based company similar to BP America, which existed for two decades. A restructuring of BP would also allow the firm to take a badly crippled brand and give the oil operation a new name—much as it did when it changed its name from British Petroleum. The second time may be the charm.
Zale Corporation was founded in 1924 by the Zale brothers. It was one of the earliest retailers to offer the ability to buy items on credit. By 1980, Zale had revenue of more than $1 billion. In 1992, Zale filed for bankruptcy. Zale has been at death’s door for some time. The company is trying to turn itself around, but most experts are not convinced. Zale is also in a very crowded market that includes retailers as large as Wal-Mart.
We knew it was going to happen. Just glance out your car window as you pass your local strip malls. Try to walk 25 yards through your local mall without seeing boarded up stores. The 2009 holiday sales period was one of the worst on record. That, coupled with very little change in the nation’s economic situation and the growth of e-commerce revenues, made it quite obvious that our retail industry would have to adjust to consistently poor performance. The looming question at this point is “who’s next?”
According to the Radio Television News Directors Association, about 1,200 people in TV news lost their jobs last year. This figure, approximately 4.3 percent of the total workforce, has led to staffs that are increasingly stretched thin. Even as more layoffs loom, stations are turning to low-cost news programs to fill in holes in their schedule that used to be filled by syndicated shows.
Some predict that the classic “Big Three” may be reduced to the “Big One” if the economy doesn’t improve soon. BusinessWeek‘s two major competitors, Fortune and Forbes, are currently evaluating options as well. All three currently have an Internet presence as do other competitors such as Fast Company, Inc., Harvard Business Review, Business 2.0 and others.
Zip Drives
Ouch! That means the TV you just bought is already obsolete, no matter what your electronics salesperson told you. The price for OLED TVs, which boast exponentially better contrast ratios of over 1,000,000:1 is already tumbling down. Look for much larger, paper-thin screens in the very near future.
Manned Military Aircraft
The famed Rainbow Room, New York’s legendary dinner and dancing venue—known across the world for its majestic eagle’s-nest view of the city, and once synonymous with glitz and gastronomy, closed its restaurant in January because of the weak economy. The ritzy special-occasion spot opened in 1934 in New York overlooking midtown Manhattan from high above the tourist-attracting Rockefeller Center skating rink and was known world-wide.
Kinko’s is the world’s leading provider of document solutions and business services. It was founded in 1970 by Paul Orfalea whose college nickname was “Kinko” because of his kinky (curly) hair. He later sold out to FedEx in 2003 for $1.3 billion, and the name became FedEx Kinko’s. FedEx recently announced that it will drop the name Kinko’s and will be known as FedEx Office.
Now here’s a combination that sounds as though it simply can’t miss. Think about it—everyone loves chocolate, cherry has always been a favorite, Dr Pepper is a national classic and the word “diet” erases any concern that the chocolate and/or the cherry may be a threat to your weight concerns. Put them all together and what do you get? Apparently a limited edition flavor introduced in 2007 and discontinued in 2008.
Since purchasing Sears in 2004 for $11 billion, Kmart has done little to regain prominence in a very competitive retail environment. Many experts predict the demise of the retail icon if major changes aren’t initiated in the very near future.











Let’s start with those maddening little labels glued on every piece of fruit in the supermarket. There’s got to be a better way. As it is now, you either end up eating the labels or destroying the piece of fruit by trying to surgically remove them before feasting. After every battle with a sticker, I feel like returning the piece of fruit to the supermarket—through the plate glass front window of the store.
And finally … lotteries need to go. A lottery is a tax on people who are bad at math. It’s a huge tax—people sink about $40 billion a year into state lotteries and $345 billion into all forms of legal gambling. A good number of those who buy lottery tickets and travel to Vegas, Atlantic City, etc. are for the most part those who don’t have the money to waste. Only a very small fraction of what they lose comes back to them in funds for schools as promised. A direct tax would hit all income levels more fairly, would actually channel more to the schools at less expense to the taxpayers, and might even help educate people to understand their chances of winning a lottery are actually about a trillion to 1!
The Sears Tower is a 110-story, 1,450.58-feet skyscraper in Chicago, Illinois. At the time of its completion in 1973, it was the tallest building in the world, surpassing the World Trade Center towers in New York. Currently, the Sears Tower is the tallest skyscraper in the United States and the fourth-tallest freestanding structure in the world.
Money can do a lot—both good and bad. We’re all seeing that today more than ever before. It’s changing the name of the tallest building in the U.S., but only on paper and maybe a few signs here and there. In the hearts of billions of locals and tourists around the world, it will always be the Sears Tower in our hearts, minds and memories.