bankruptcy

10. Texaco (1987)
Why they failed? Because of poor investment strategies and some very bad lawyers!

9. Pacific Gas and Electric Co. (2001)
Why they failed? Because they put their mouth where their money wasn’t.

8. Thornburg Mortgage (2009)
Why they failed? Sub prime mortgage crises!

7. Chrysler (2009)ChryslerBankruptcy
Why they failed? Europeans made better cars and Japanese made better for cheaper.

6. Conseco (2002)
Why they failed? Poor executive, operational and financial management.

5. Enron (2001)
Why they failed? Accounting scandals, Arthur Anderson, Kenneth Lay, George Bush.

4. General Motors (2009)
Why they failed? 90% of their cars won’t last 1000 miles without sounding like a 100,000 mile car. Their 70s models are still pure gold!

3. Worldcom (2002)
Why they failed? Accounting scandals and frauds.

2. Washington Mutual (2008)
Why they failed? Global financial crises forced people to withdraw all their funds resulting in a serious insolvency issue.

1. Lehman Brother Holdings (2008)
Why they failed? The Global financial crises and the greedy management!

FINANCIAL/LEHMAN

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