LTV Corporation

LTV Corporation, once a massive conglomerate, at its peak boasted a combined $23 billion in sales adjusted for inflation. On December 29, 2000 LTV and 48 subsidiaries, filed for Chapter 11 bankruptcy after years of financial turmoil, and political strife within the company. Originally founded in 1947 by James Ling, the company morphed into a behemoth that was just too big to properly manage, and as a result investors started questioning the overall strategy. The turmoil festered for years, until LTV finally filed for Chapter 11 bankruptcy in 1986.