Comment Re:Is that because of the monopoly? (Score 1) 57
Philips and Bell had executives who had come up through the ranks, knew their industry, and intended to stay with the company long term. Today's executives are uniformly MBAs and lawyers who have spent their entire careers hopping from one job to another in a game of 'Executive Musical Chairs', bumping up quarterly profits with short term fixes to ensure their bonuses, hoping to not be in the corner office when the music stops and the results of their bad decisions tanks the company. What interest do they have in long term investment when by the time it bears fruit someone else will be reaping the benefits?
When my wife started working at Target the CEO had started on the sales floor three decades earlier, by 2010 there wasn't a single person in the executive offices who had ever worked at a low level retail job. The entire company was being run by people who had no idea what the employees who kept it functioning day to day actually did, and the decisions coming from Minneapolis showed it.