In this series, we take a look at the 25 stocks on the S&P 500 Index (SPX) that have turned in the worst performance during the past decade -- what went wrong, and what happens next.
Google should allow the sad fate of Xerox Corporation (NYSE: XRX) to serve as a cautionary tale: the use of your company's name as a common verb in the popular lexicon does not guarantee long-term success.
I can remember an age when I thought "xerox" was a legitimate action verb. But I couldn't tell you the last time I made a "xerox." You may remember from our discussion of Gannett Co. (NYSE: GCI) that people don't read the paper anymore. Well, it's actually a little more serious than that -- people don't even like to use paper anymore.
What went wrong? At number 18 on our list of SPX laggards, XRX shed 73% of its value during the 10 years that ended June 30, 2008. The stock tapped a high of $63.94 back in May 1999, shortly after G. Richard Thoman succeeded Paul Allaire as CEO. As The New York Times noted, Thoman was taking the helm "...at a time of unprecedented change for Xerox," with digital technology transforming traditional copier and printer usage.
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For a quick-read on the U.S. economy, check the price of gasoline
