It's official: Goodbye, Black & Decker
Here's the equivalent of the death certificate for the 100-year-old, Towson-based Black & Decker, lately acquired by Stanley Works. It's Monday's form 15-12b filing with the Securities & Exchange Commission, stating that Black & Decker is no longer registered under the Securities Exchange Act of 1934.
Comments
This company was the perfect example of American arrogance. It was run by financial people that believed in operating a company uoside down; i.e. target a profit margin and work backwards from there. Innovation and capital upgrades were taboo subjects. Wall Street loved the concept and it was the "darling" of the industry. Even Rubbermaid was contaminated with the corrupted philosophy (the most admired company in the '90's). Rest in hell, B&D. The golden goose was killed.
Posted by: lew | March 25, 2010 9:39 AM
This company was the perfect example of American arrogance. It was run by financial people that believed in operating a company upside down; i.e. target a profit margin and work backwards from there. Innovation and capital upgrades were taboo subjects. Wall Street loved the concept and it was the "darling" of the industry. Even Rubbermaid was contaminated with the corrupted philosophy (the most admired company in the '90's). Rest in hell, B&D. The golden goose was killed.
Posted by: lew | March 25, 2010 9:41 AM
More and more it seems Maryland is on its way to be dominated by government jobs and non-profits. It's ashame.
Posted by: Brian | March 25, 2010 10:12 AM
This company was the perfect example of American arrogance. It was run by financial people that believed in operating a company upside down; i.e. target a profit margin and work backwards from there. Innovation and capital upgrades were taboo subjects. Wall Street loved the concept and it was the "darling" of the industry. Even Rubbermaid was contaminated with the corrupted philosophy (the most admired company in the '90's). Rest in hell, B&D. The golden goose was killed.
Posted by: lew | March 25, 2010 10:18 AM
Ah, yes - I remember Black and Decker as the place to be in the 1970's if you were an up-and-coming engineer or designer-drafter.
But, they were so elitist during the interview process, that I came away with a bad taste in my mouth, and decided I didn't want to work for those snobs.
It didn't matter, they didn't want a free-thinker like me, anyway. A lot of changes were taking place in the world of engineering and configuration management, and B&D didn't want to hear it.
Posted by: Tim Ferguson | March 25, 2010 12:47 PM
I can remember when I was being hired at B&D in Hampstead. The personel man telling me that you wouldn't get fired until you had a 3rd fistfight. This was 1970. There were many good people working there. I had long hair and played Guitar. They immediately nicknamed me "HIP"..... Those were the days.
Posted by: nobull | March 25, 2010 12:59 PM