...which I suppose is why IBM is still the industry leader in computing, while Ford, GM, and Chrysler can't be competed with. Photographers always use Kodak film, and we all talk on our Nokia cell phones. We all shop at Sears, and fly on Pan Am.

I never claimed that companies can't fail or change, only that bloat and inefficiencies aren't a death sentence. Even several of your examples are still alive and well and it's telling that their major declines took place in the 1980s and 1990s. Companies have gotten a lot better at abusing government and law to protect their profits over the last 40 years.