Companies That Might Go Out Of Business

The United States Rubber Company was founded in 1892 in Naugutuck, Connecticut, and was one of the original 12 stocks in the Dow Jones Industrial Average. The company became Uniroyal in 1961, merged with B.F. Goodrich in 1985 and was acquired by Michelin in 1990. Shares of Michelin closed today at €34.17, a gain of €0.16 (0.47%). €34.17 is the equivalent of $40.27.

 
In 1955, Columbia Records launched the Columbia Record Club to sell record albums via mail-order. It was renamed Columbia House in 1971. They began offering reel-to-reel recordings in 1960, 8-track cartridges in 1966, cassettes in 1969, videocassettes in 1981, CDs in 1986 and DVDs in 1997.

 
During its peak years in the 1990s and early 2000s, Columbia House charged a shipping-and-handling fee of $1.50 to $3.50 for every CD or cassette sold. Their offer of "eight CDs for a penny" wound up costing between $12 and $28 (plus the penny) – and to take advantage of that offer, you had to agree to buy six CDs at "regular club prices." That was $17.95 per CD – higher than retail – and the shipping fee was higher, as much as $5.99. Columbia House made around $7.50 profit on every CD they sold!
 
Back
Top Bottom