Why do certain industries always suck?

17Mar09

With all the recent fraud in the financial services and real estate sectors, it’s sometimes hard to believe the US has any reputable companies at all. Yet we have firms like Southwest, Trader Joe’s, and Amazon that seem to universally excel in treating customers and employees right, while still producing huge revenues. Why don’t we see companies like this in the world of investment banking, or health insurance, or defense contracting?

Clearly, there are massive barriers to entry in those areas, but the same might be said for things like air travel and retail. Maybe the industries just attract crooked individuals who are great at stealing money and ripping off employees and customers alike. Whatever the cause, it’s a shame that our country produces such great successes in some areas, yet seems to take back one hundred times that amount when we let other industries bankrupt the same consumers that all businesses rely upon to drive the economy.



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