“During the 1990s, JCP, along with American Airlines, Citigroup, Exxon Mobil, Ford Motors, General Electric, IBM, Transocean, U.S. Steel, and Xerox were among the bluest of blue chips. These brands were global icons and were beacons of American ingenuity. At the peak of their powers, they were worth a collective $1.5 trillion, or 12% of the S&P 500.
But the world ground gradually shifted beneath their feet. Over time SUVs replaced sedans, email replaced the fax machine, and the internet replaced the department store. These 10 companies fell 70% from their peak, shedding over a trillion dollars in market cap in the process. Their value is unchanged since 1997.”