There is a weird thing that happens as you age – you forget that things change! Oh, I know that my son is getting older, I know the president changes from time to time and I know that my favorite television show “Sex and the City” is no longer broadcasting new episodes. But, there are companies that I grew up with that aren’t companies anymore and sometimes I just forget. I mean I still remember when Nissan was Datsun! I forget that companies go bankrupt, get bought out, etc. And some, I was so used to having around, I knew they went out of business, but it seems like they should still be around. So here are some of companies that are no more – let me know if you thought some of them were still around!
DeLorean Motor Company
Okay, I knew the DeLorean Motor Company was defunct, but it was as much as part of the Eighties as Molly Ringwald. A DeLorean DMC-12 was THE car to have with its heyday with its stainless steel body and its gull wing doors. You can see one in the movie The Wedding Singer, which focuses on all things Eighties. Plus, let us not forget it was the time traveling car used in Back to the Future. Unfortunately, the DeLorean Motor Company eventually went bankrupt. Founder John DeLorean was charged with trafficking, but found not guilty due to entrapment. He died in March 2005 of a stroke at the age of 80.
PaineWebber
Well, good thing I wasn’t planning on investing my money with them because PaineWebber is no more! This one I didn’t know about, but in 2000, PaineWebber merged with UBS AG. It became UBS PaineWebber but by 2003, the PaineWebber part had been dropped and it is now known as UBS Wealth Management USA.
Merry-Go-Round
Another one I didn’t realize was gone, but probably would have if I had taken a close look around the mall. Merry-Go-Round was a popular clothing store in the late Eighties/early Nineties, but by the mid-Nineties, teens decided they didn’t like that type of fashion anymore. It must have been a grunge thing. By 1994, Merry-Go-Round filed for bankruptcy and it finally liquidates its assets in 1996.
Beatrice Foods Company
Ah, Beatrice – she sold a little bit of everything including Altoids, Butterball Turkey products, Peter Pan, and even Tropicana. It was founded in 1894 and ninety years later, the annual sales were $12 billion. But, Kohlberg Kravis Roberts (KKR) acquired a controlling stake in the company in 1987. KKR eventually sold off most of the assets, with what little remaining being sold to ConAgra Foods.
More tomorrow about companies, which physically left us, but did not leave our memories.