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Top ten business hiccups

by Real Business - Wednesday, 7th May 2008 - (1) comment

Top ten business hiccups

Remember the spectacular collapse of Boo.com? Or Unilever's "rotting" cleaning powder? Disasterous. Here's our ten favourite business balls ups.

1. The C5: Sir Clive Sinclair’s battery-powered tricycle, launched in 1985. Few sold thanks to a lack of roadworthiness.

2. Dasani: Launched in Britain in 2004, Coca-Cola’s bottled water was swiftly recalled in the UK – it contained bromate, a chemical linked with cancer.

3. Decca Records: A&R executive Dick Rowe turned down the Beatles in 1962.

4. Persil Power: Unilever’s new cleaning product was withdrawn after tests by rivals Proctor & Gamble showed it rotted clothing away.

5. Xerox: Managers turned down an electronic typewriter capable of displaying, storing and sending text in 1977, unconvinced about its commercial potential.

6. British Rail: When, in 1984, the firm unveiled the slogan, “We’re getting there” it backfired, undoing a five-year, £35m campaign on the eighties being the “age of the train”.

7. Boo.com: The founders of this Swedish online clothes store spent around £65m in venture capital before collapsing in 2000, among other dot-coms.

8. Barings Bank: As chief trader in Singapore, Nick Leeson built up over £820m in debt for Barings, sinking England’s oldest merchant bank.

9. British Airways: In 1997, BA replaced its union flag tailfins with ethnic designs – a hugely unpopular move with the public. The familiar flag motif was soon restored.

10. DeLorean: The UK government invested £65m into John DeLorean’s stainless steel sports car – it sent him bust in 1999, a clinker with 75mph max speed.

Source: IBM publication: Now we are 100 in association with the CBI.

Picture source

Related articles:
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1 Comments

May 08, 2008 1:07pm
Shannon Says:

I own a Delorean. It will definitely go faster than 75 mph. More like 120 mph with the stock engine. Also the failure of the company didn't send him bust in 1999. It was 1982. Are you sure what the amount the government invested in the company?

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