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No Hands: The Rise and Fall of the Schwinn Bicycle Company, an American Institution |
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Description:
Crown and Coleman, journalists with Crain's Chicago Business, report how Schwinn, America's premier manufacturer of bicycles, developed, flourished, coasted, and finally flew from its seat headfirst into bankruptcy in 1992. The company's heyday was in the 1950s, when its lovingly crafted, chrome-bedecked monsters were a kid's dream. But the company ignored a shift that occurred in the 1970s--kids of the '50s, by then young adults, had taken to cycling, a sport that demanded lighter frames. When management finally realized the trend, they discovered that Schwinn's underfinanced, antiquated Chicago plant could not produce the welding on the new, thinner tube frames, forcing them to outsource the work to Taiwan's Giant Bicycles. Giant was then tiny, but--thanks to Schwinn--it soon fulfilled the promise of its name to become the biggest bicycle manufacturer in the world. A salutary tale of "no hands" management.
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