It's hard to turn a sinking product around. There's a cultural problem, and those are very difficult to solve.

There's a Munger quote that I don't quite remember, but it went something like this: "When good managers are put into a terrible culture, it's the culture that wins."

When Seagate (then a reputable hard drive manufacturer) purchased Maxtor (then the bottom-of-the-barrel for both price and reliability) I hoped Seagate would rehabilitate their newly acquired facilities and bring them up to the same quality.

I was disappointed.