My guess on their demise; it was caused by :
1. too much taxes ... STATIST THEFT
2. too much regulations ... FRICTION, ENERGY WASTE
3. too much unions ... BRIBES, CLIENTELISM, THEFT V2
4. too much debt ... IRRESPONSIBILITY, CREDIBILITY LOSS
5. reckless or inattentive management and shareholders ... IDIOCY, CRONIES, DESTRUCTIVE SHORT TERM GREED
6. finally, marginally : market competition (after all of the above) ... THE ONLY THING TENABLE
Modulo some ordering shuffling from (1) to (5) - god knows. I'm just giving the common pattern observable for decades in the socialist country I come from.
"Cyril" pronounced "see real". I code stuff.
"To study and not think is a waste. To think and not study is dangerous." -- Confucius
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