Think a recession is a bad time to start a company? Imagine if the founders of these major corporations had thought the same…
Company: Procter & Gamble, Household products
Founded during: The Panic of 1837
Because consumers rely on P&G products in good times and bad, it is considered a titan even in a rough economy.
Company: IBM, Computer
Founded during: The Long Depression, 1873-1896
Last year, the company had record revenue of $103.6 billion. However, thousands of layoffs are reportedly underway in IBM’s sales and software units.
Company: General Electric, Energy and other
Founded during: Panic of 1873
In 1896, Edison’s GE landed a spot on the first-ever Dow Jones Industrial Average. Today, it is the only remaining company of the original twelve.
Company: General Motors, Automobiles
Founded during: The Panic of 1907
General Motors became a holding company for Buick and Oldsmobile in 1907, which had already been been for established several years, and it went on to acquire many more companies after that.
Company: United Technologies Corp, Aerospace
Founded during: In 1929, amid the Great Depression
The notorious year that the stock market crashed, spurring a 10-year global downturn, also marked the birth of an aerospace giant.
Company: FedEx, Shipping
Founded during: The Oil Crisis of 1973
When several Arab states had embargoed oil exports to the United States, it could have been disastrous for a company that relied on petroleum-fueled transportation, but Federal Express stayed alive and became profitable in July 1975, when oil prices finally leveled off.
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An encouragement to keep thinking outside the current box of scarcity and financially hard times, no matter how crazy that seems!
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