What Went Wrong With These 7 Most Admired Companies?

By siliconindia | Monday, 18 November 2013, 13:22 Hrs

6. Gillette

Gillette came into existence, when King Gillette and Emery Nickerson formed a company. The company was based on the design they previously co-designed, that was a safety razor. Gillette was the first company to introduce razors with disposable blade.

Even after King Gillette had lost his money in the stock market crash, the company maintained its strength. Gillette continued to serve as the largest consumer products company in the country. However, in 2005, P&G bought Gillette for $57 billion.

7. Wang Laboratories

Founded in 1951, Wang Laboratories was a computer company that was founded by Dr. An Wang and Dr. G. Y. Chu. During 1980s, the company had annual revenue of 3 billion and employed over 33,000 people.

In the year 1992, Wang Laboratories filed a complaint for protecting them against bankruptcy. But soon after the recovery, the company changed its name to Wang Global.