In 2001, GE Capital killed the storied American retailer Montgomery Ward. I know this because I announced its demise to the world. The company was 129 years old at the time and had suffered at the hands of it post-war CEO Sewell Avery, a man who did not understand the immense impact of suburbs. He insisted on keeping his stores in big cities because, “That’s where the people are”. He’s pictured getting a ride from the US Army.
© 2024 John Oliver
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