Some companies are acquired, while others cease altogether
Sometimes when we play the game “remember when,” we think of specific products or companies that used to exist but are no longer around in their former form.
Sometimes an existing company simply changes its name. Although I won’t talk about this topic in this particular post, we’ll encounter one of these name-changing companies later in the post – Altria Group, formerly known as Philip Morris.
There are two other things that can happen to a company – it can be acquired by another company, or it can cease operations altogether. MSNBC published a list of 15 companies that no longer exist in their present form.
Some of these companies were acquired by others – Compaq was acquired by Hewlett Packard; E.F. Hutton was merged into what became Citigroup; and General Foods was acquired by Philip Morris (now Altria), merged with Kraft, and later spun off again (as Kraft).
Other companies simply ceased operations and/or were liquidated; Enron, Merry-Go-Round, Eastern Airlines.