"dgk" wrote in message
...

Typical story of an old company that couldn't move with the market

Really the story of a company that tried to maintain the salary
structure that paid living wages. More good paying jobs gone forever.

Re-read the article

"As tastes began to change, however, Schwinn didn't. It continued to churn
out the same heavy, tough-to-maneuver bikes that had been the mainstay of
the industry for decades. "Durable? Yes. Lasts forever? You bet," said Jay
Townley, an industry consultant and former Schwinn executive. "What the
customer wanted? No.""

Schwinn made low-end bikes and that market became saturated, had they tried
to move more upscale things might have been different.

Were they hurt by overseas competition? sure

Did they bring most of it on themselves? yup