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Who killed Westinghouse? Logo
Stories by Steve Massey * Illustration by Daniel Marsula

Eventually Westinghouse would lend Youngstown-based Phar-Mor $150 million, as its go-go Financial Services division increased its portfolio of loans at a tremendous rate, generating large upfront fees, but also saddling the corporation with debt that would turn bad by the end of the decade. In this photo taken from the 1987 annual report, Westinghouse executives William Harper (left) and David Heilman (right) talk with Phar-Mor CEO David Shapira (second from left) and Phar-Mor President Michael Monus.

Westinghouse Electric

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