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Reversing the Slide: A Strategic Guide to Turnarounds and Corporate Renewal by James B. Shein

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Chapter 2. The Turnaround Tripod

"Even CEO Can't Figure Out How Radio Shack Still In Business," the headline read. The article went on to quote Radio Shack CEO Julian Day as saying, "There must be some sort of business model that enables this company to make money, but I'll be damned if I know what it is."[28]

Though it appeared in the pages of the satirical news publication The Onion, the article represented a case of art imitating life, coming as it did on the heels of a turnaround effort by recently named CEO Day that got well ahead of itself, focusing entirely on cost-cutting before developing a coherent strategy for the reorganized company.

Founded in 1921 to sell radio equipment, Radio Shack was acquired out of bankruptcy by leather goods ...

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