Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
The Last Job
Old 08-17-2018, 07:19 PM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
imoldernu's Avatar
 
Join Date: Jul 2012
Location: Peru
Posts: 6,313
The Last Job

Yesterday's New York Times included a "Back Story" article that cited a 1985 article about the final days of Montgomery Ward. It brought back memories.

Quote:
The rise of shopping malls and the internet eventually spelled the demise of the mail order catalog. In 1985, Montgomery Ward discontinued its catalog because of persistent losses.
From the 1985 article:

Quote:
Ward's catalogue operation, which includes 20 separate books with a total annual circulation of 5 million and sales last year of $1.2 billion, is the third-largest, in sales, after those of Sears, Roebuck & Company and the J. C. Penney Company.

Mr. Brennan said about 5,000 of the company's 78,000 employees would be affected by the catalogue's demise, which will involve the closing of 200 company-owned catalogue stores and 1,270 independent catalogue sales agencies.
Bernie Brennan was the President of Wards at the time and my boss. He finally convinced Rawleigh Warner who was CEO of Mobil from 1969 to 1986, that the Catalog Division should be taken down... A matter of vanity for Mr. Warner who had purchased Wards in 1976 with the intent of a great rebuild.

I was in the meeting where the final decision was made, after much, much discussion and ego padding. Remember it well, as it was where my last job was created. I was appointed special project manager in charge of closing the entire field catalog division... in total, a three year project. In all, including the catalog desks in the retail stores... over 2,000 units, in 34 states, and, despite the numbers in the article, more like 10,000 employees in all.

Just a flashback to several very busy and interesting years.
__________________

imoldernu is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-17-2018, 07:27 PM   #2
Moderator Emeritus
aja8888's Avatar
 
Join Date: Apr 2011
Location: The Woodlands, TX
Posts: 10,697
That's quite a story!

Two of the companies that framed my career were Fortune 500 for many, many years. Both are gone. My last assignment in the second one was to close five large manufacturing plants and spin off the remaining facility assets. Sad stuff as many of the people I worked with on the way up to that corporate job were let go.
__________________

__________________
Saying on a Get Well card from a friend of mine after I had my second hip replacement - "Don't let the Old Man in..."
aja8888 is offline   Reply With Quote
Old 08-17-2018, 07:37 PM   #3
Thinks s/he gets paid by the post
Souschef's Avatar
 
Join Date: Dec 2015
Location: Santa Paula
Posts: 2,556
I worked for the same Aerospace company for 20 years. In that industry, that is 2 lifetimes. I saw presidents come and go. I same some acquisitions so badly mismanaged that they fired the president and the retired president came back to sort it out.
The company was finally sold to an English conglomerate that used it as a cash cow.
I am soo glad I retired.
__________________
Retired Jan 2009 Have not looked back.
AA 50/45/5 considering SS and pensions a SP annuity
WR 2% SI 2SS & 2 Pensions
Souschef is online now   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
last chance for job in my field but not excited broadway Other topics 15 04-12-2017 06:51 PM
Last Day Was Last Friday! Trooper Hi, I am... 10 02-09-2016 01:53 PM
Last day on this job...just a few easy days left EastWest Gal Life after FIRE 19 09-19-2014 06:20 AM
See @ Last, See @ Last, Thank God I Can See @ Last Beachbumz Other topics 24 02-18-2005 08:16 PM

» Quick Links

 
All times are GMT -6. The time now is 02:23 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
×