6 Companies Born During Downturns

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.

Read the full article on the web here.

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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