50 companies that changed the world

Published by Jaico Publishing House A-2 Jash Chambers, 7-A Sir Phirozshah Mehta Road Fort, Mumbai - 400 001 jaicopub@jaicobooks.com www.jaicobooks.com © Howard Rothman Published in arrangement with Career Press, Inc 220 West Parkway, Unit 12, Pompton Plains NJ 07444, USA To be sold only in India, Bangladesh, Bhutan, Pakistan, Nepal, Sri Lanka and the Maldives 50 COMPANIES THAT CHANGED THE WORLD ISBN 81-7992-326-6 First Jaico Impression: 2004 Sixteenth Jaico Impression: 2011 No part of this book may be reproduced or utilized in any form or by any means, electronic or mechanical including photocopying, recording or by any information storage and retrieval system, without permission in writing from the publishers Dedication This book is dedicated to my family, who changed my world Acknowledgments This book is the product of a great deal of research and many years of obser- vation Much of what ultimately shaped it, in fact, was transmitted to me in unre- lated contexts In thanking those who assisted in its development, therefore, I find myself reaching back to other books, articles, projects, and conversations that helped to form the initial basis for the selection process along with the analytical thinking that eventually produced 50 Companies That Changed the World I also looked back to those direct interviews and suggestions that resulted in the shaping of the words ultimately found on these pages Thanks, then, to Ben Cohen, Hass Hassan, Peter Cove, Lee Bowes, Yvon Chouinard, Margot Fraser, John Kirk, Bernie Glassman, Paul Hawken, John Hickenlooper, Bruce Hutton, Wendy Weir, Marilyn Hamilton, Joan Shapiro, Joyce Meskis, Don Banducci, and, as always, Lew Goodman I would also like to specifically thank Pat Rothman, Ted Pinkowitz, Ed Epstein, Amy and Carl Boymel, Mary Scott, Leslie Petrovski, John Blakney, Bob Car mel, Louis Morgan, Pam Carson, David Wilbrecht, Barbara Friend, Ellen K aplan, Rober t Butler, Paul Desmond and Ken Tabb for both their general input and pinpoint suggestions; Michael Lewis for offering me the project in the first place; Jackie Michaels and Kirsten Beucler for their publicity and marketing support; John J O'Sullivan for his editing and design; and the Doors, Steely Dan, the Afro Celtic Sound System, and the Waterboys for providing a soundtrack that helped propel it all I am, of course, solely responsible for the contents of this book and for any and all misuses I might have made of the suggestions received from those cited above, and others I have inadvertently failed to mention CONTENTS Introduction Number 1: Microsoft Number 2: AT&T Number 3: Ford Number 4: Apple Number 5: McDonald’s Number 6: America Online Number 7: FedEx Number 8: CBS Number 9: Philip Morris Number 10: Wal-Mart Number 11: General Electric Number 12: IBM Number 13: Sears Roebuck Number 14: General Motors Number 15: J.P Morgan & Co Number 16: Union Pacific Number 17: RCA Number 18: Nike Number 19: Intel Number 20: CNN Number 21: Boeing Number 22: Hewlett-Packard Number 23: Standard Oil Number 24: Sony Number 25: USX-U.S Steel Group Number 26: Agence France-Presse Number 27: Levitt & Sons Number 28: The Walt Disney Co Number 29: Netscape Number 30: Coca-Cola Number 31: Thyssen Krupp Number 32: Proctor & Gamble Number 33: Yahoo! Number 34: Toyota Number 35: People Express Number 36: Manpower Number 37: Toys “R” Us Number 38: National Football League Number 39: Kellogg Number 40: Johnson Publishing Number 41: Firestone Tire & Rubber Number 42: Avon Products Number 43: Hilton Hotels Number 44: Ben & Jerry’s Homemade Number 45: Re/Max Number 46: Singer Sewing Number 47: Shorebank Corp Number 48: Metro-Goldwyn-Mayer Number 49: L.L Bean Number 50: H.J Heinz Honorable Mentions Bibliography About the Author Introduction matter how you feel about its individual entities or overall force, the corporate world has a N omajor and ongoing impact on our lives We work in it We eat the food it produces and distributes We drive the cars it manufactures We communicate over its networks We house and clothe, entertain and educate ourselves with the various items that it makes Along the way, this corporate world helps shape what we are even as we—through our feedback and support—help shape what it becomes In the following pages, you will read about 50 outstanding companies that have dramatically and permanently altered us In the process, you will also see how the general structure of business—and, along with it, our society—has evolved over the past few centuries You will meet some individuals with extraordinary vision, courage, and commitment who struggled to realize their ideas and drive their companies to success In a very real sense, they are the true forces that have changed our world Growing up in a family that worked together to operate a busy retail store and a vending company, I’ve been more than an observer of the business world all my life I have participated in it actively since I was barely in high school I started selling cigarettes and magazines during vacations, using an ancient mechanical coin sorting device every Saturday morning to count the change from our soft drink, coffee, and candy machines Later, when I became a journalist, I began as a reporter on the business beat for a now defunct urban newspaper Eventually, I wound up as a contributing editor for several large consumer and trade magazines, primarily covering business During that period, I encountered an array of interesting companies that were doing unique and important things I enjoyed writing about them so much I turned several related projects into books As a consultant or participant, I was also involved in the development of a number of commercial enterprises—ranging from a stereo dealership, an advertising agency for medical practitioners, a small business accounting firm, and an Internet service provider When I started this book, my goal was to look into the various ways that companies like these could change the world and examine the specific ones that have managed to pull off that lofty goal successfully To find these companies, I began by compiling a list with the naturals, such as Microsoft and Ford Then, I drew up another with industries that regularly had earth-shaking impact, such as the fields of communications and transportation I began circulating both to a network of associates and colleagues that represented a broad range of interests There were high-tech executives and teachers Public relations professionals and engineers Business writers and shopkeepers Salespeople and retired managers Everyone generously commented on my selections and most helpfully offered a few of their own New lists were drawn up, recirculated, and refined Eventually, a solid list of 50 companies surfaced that I felt accurately represented the breadth and scope (if not the totality) of corporate impact on human life in the 19th and 20th centuries Then came the researching, writing, and ranking processes I began by putting the companies into an order that I initially considered appropriate, and started examining a half-dozen of them at a time Whenever I finished with one I promptly reconsidered its existing rank, especially in relation to the companies that were then immediately above and below it on the list I constantly asked myself which had more lasting influence, which really deserved to be on top of the other? And, more often than not, this resulted in a change of some sort For example, I decided after immersing myself in both Philip Morris and Wal-Mart that the former has had more of an impact than the latter, so I flipped the order of the two I soon began printing out my most current rankings first thing every morning, posting it beside my computer, and then staring at it throughout the day Few passed without me making at least a tweak or two as the finished chapters started piling up and my knowledge of all the companies increased Several times I also deleted companies that I had originally targeted After examining them fuller, I no longer felt that they honestly belonged At last, when an initial draft was finished, I circulated the final list among many of my original confidants Most agreed with the new lineup, but a few suggested additional changes Several of those were incorporated into the ranking that the finished book contains The profiles themselves, read in order or otherwise, offer insight into the often forgotten details of our various cultural metamorphoses as directed by these leading businesses For example, you will see how our means of transportation were transformed from trains and cars to airplanes and rockets How the communications evolution took us from newspapers, to radio, to TV, to cyberspace How we underwent a social conversion through the introduction of electricity and telephones, chain hotels and fast-food joints The overall picture is one of business and societal alchemy at the hands of a few farsighted people, whose best ideas were usually copied and ultimately adapted into the mainstream But the individual pictures are even more fascinating, for they show precisely how these leading firms managed to stay atop their changing worlds by following a singular focus, but altering direction as necessary whenever it proved critical It isn’t surprising, therefore, to learn that virtually all of the companies in this book, no matter when or where they were founded, still make a big impact on who we are and what we I wrote this book, for example, on an Apple computer with the assistance of a Netscape browser, Microsoft word processing software and Hewlett-Packard printer During the process I purchased a card table and chairs from Wal-Mart, and a lawnmower from Sears I got FedEx deliveries about three times a week, and regularly watched CNN, CBS, and the National Football League on my cable connection from AT&T My very first car was from General Motors (1959 Chevy Impalla), my next car was a Toyota (1974 Celica GT), and my current car runs on Firestone tires (although, thankfully, not a model that the company recalled in the summer of 2000) I exercise in Nike footwear, unwind with a Sony CD player, take my kids to practically every movie released by the Walt Disney Company, and when they were younger felt that I lived at Toys “R” Us When my wife and I first met, her roommate was engaged to a guy from Levittown I flew People Express for the few years we could Today, I have products at home too numerous to mention from Kellogg, Procter & Gamble, Phillip Morris, H.J Heinz, L.L Bean, Coca-Cola, and of course, Ben & Jerry’s The most unusual connection of all, however, came when I discovered that the scientist who founded a company responsible for both GE and RCA began his career as a chemistry teacher at the Philadelphia high school I attended a century later What’s the point? These “50 companies that changed the world” obviously all made a tremendous mark on the business world, initiating such vital operational innovations as the assembly line, franchising agreement, brand extension, and temporary employee At the same time, they made perhaps an even larger mark on the world in general, and on each and every one of us There have also been negative impacts, as evidenced by giant tobacco companycum- consumer products conglomerate Phillip Morris and wartime armsmaker turned peacetime steelmaker Thyssen Krupp However, these firms and their visionaries, while rarely setting out to change the world, usually did so in a very positive manner And while practically all of them still battle challenges consistently in order to remain on that influential edge, most have faced down similar threats successfully throughout their existence That’s one of the primary reasons they are included in this book It is my hope that their stories will prove to be both instructive and interesting to all A final note: Several people who have read this book have asked about the possibility of investing in one or more of these companies Over the years, this has generally been a smart move Several of them are longtime components of the Dow Jones Industrial Average, and others have been leaders on the NASDAQ exchange during the tech boom With the market instability during the latter half of 2000, however, even these standard-bearers have taken their hits Companies such as Microsoft, AT&T, and Ford have not been immune to the fluctuations in stock valuation that have hit most market Distinction: Provided the financial services that opened the West Beginning in 1852, Wells Fargo stagecoaches helped open the American West by traversing grueling deserts, dangerous mountains and endless prairies to deliver mail and cash to those in bustling towns, sprawling ranches, and isolated mining claims During the Gold Rush, the company also provided services like converting unprocessed ore into U.S coins and producing checks and bank drafts for local businesses— and it even lays claim to processing the first electronic transaction, which it handled by telegraph in 1864 Today, Wells Fargo has evolved into a diversified financial company that offers traditional banking and investment services to consumers and corporations Thanks to mergers and acquisitions, it is now the seventh largest such institution in the U.S with 104,000 employees, 5,300 banking locations, 17 million customers, and $234 billion in assets But the San Francisco-based firm still proudly touts its connectivity to customers, citing an industryleading Internet site, banks in unconventional places like supermarkets, and more than 6,500 ATMs located throughout North America Bibliography “25 Shapers of the Modern Era.” U.S News & World Report Dec 27, 1999, v 127 no25 Ackerman, Elise “Not so G-r-r-reat for Kellogg’s Nowadays.” U.S News & World Report August 30, 1999 v127 i8 p51 Agence France-Press “Company 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“Yahoo History.” Web site: docs.yahoo.com/info/misc/history.html ——— “Press Releases.” Web site: docs.yahoo.com/info/pr/releases.html About the Author Howard Rothman has been a retail clerk, vending machine repairman, public opinion pollster, newspaper reporter, magazine editor, advertising agency president, book reviewer, newsletter publisher, business consultant, Internet content provider, television event scout, and book author He specializes in writing about the impact of technology and progressive management practices on today’s ever-evolving business world, and has spoken on these topics at seminars across the nation A prolific writer for magazines for the past 25 years, he has also written seven books, including the best-selling and critically acclaimed Companies With A Conscience: Intimate Portraits of Twelve Firms That Make A Difference, which he co-authored with Mary Scott He lives with his wife and two daughters in the Colorado city of Centennial, where he is active in the local public school district and an avid bicyclist ... thinking that eventually produced 50 Companies That Changed the World I also looked back to those direct interviews and suggestions that resulted in the shaping of the words ultimately found on these... to look into the various ways that companies like these could change the world and examine the specific ones that have managed to pull off that lofty goal successfully To find these companies, ... later What’s the point? These 50 companies that changed the world obviously all made a tremendous mark on the business world, initiating such vital operational innovations as the assembly line,