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Toshiba faced trouble during the 2010s amid a much-publicised accounting scandal that affected its reputation, and the bankruptcy of its subsidiary nuclear energy company Westinghouse in 2017. This forced the conglomerate to shed a number of underperforming businesses, essentially eliminating the company's century-long presence in consumer markets.
Most of that industry has vanished through bankruptcy or mergers and acquisitions. None of the first several entrants (including IBM, who invented the HDD) continue in the industry today. Only three manufacturers have survived—Seagate, Toshiba and Western Digital (WD)—all of which grew at least in part through mergers and acquisitions. [1]
On 29 March 2017, Toshiba's Westinghouse filed for Chapter 11 bankruptcy, citing a yearly loss for Toshiba that could exceed $9 billion, almost three times its previous estimate. [ 24 ] [ 25 ] The projects responsible for this loss were mostly the construction of four AP1000 reactors at Vogtle in Georgia and Virgil C. Summer Nuclear Generating ...
OCZ was a brand of Toshiba that was used for some of its solid-state drives (SSDs) before they were rebranded with Toshiba. OCZ Storage Solutions was a manufacturer of SSDs based in San Jose, California, USA and was the new company formed after the sale of OCZ Technology Group ' s SSD assets to Toshiba Corporation.
The Toshiba–Kongsberg scandal, referred to in Japan as the Toshiba Machine Cocom violation case, was an international trade incident that unfolded during the final period of the Cold War. It centered on certain Coordinating Committee for Multilateral Export Controls (CoCom) member nations who transgressed foreign exchange and foreign trade ...
Walt Disney’s road to success was anything but smooth. His first commercial art studio, Laugh-O-Gram Studios, went bankrupt. Disney was broke and out of luck — but not out of ideas. He moved ...
There's a rumor circulating that Social Security is headed toward bankruptcy. And thankfully, that rumor isn't true. Social Security can't completely go bankrupt because it gets funded by payroll ...
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