No Hands: The Rise and Fall of the Schwinn Bicycle Company: An American Institution

by Judith Crown, Glenn Coleman

Traces the career of Schwinn, from its uncontested predominance over the bicycle market of the 1950s to its failure to cope with the mountain bike fad of the 1980s, to its ultimate descent into bankruptcy and corporate takeover. Tour.

Genres: Cycling, Bicycles

350 pages, Hardcover

First published November 1, 1996

Reviews

[Michael · Rating 4 out of 5]

Someone in this world still owns a Schwinn bicycle. I still have my 1968 Varsity 10 speed I bought at a local Montgomery Wards that no longer exist. The early Schwinn bikes were known for their quality and craftsmanship. They were the prima donnas of bicycles in the 20th century. Schwinn has produced many iconic bicycles throughout its history, with several models becoming particularly well-known and loved. The Aerocycle of the 30's, the Black Phantom of the 50's, the Varsity, Continental, Sting Ray, Apple Krate, Lemon Peeler of the 60's and how can you not forget the Parmount it was Schwinn's top-of-the-line racing bicycle. Every kid wanted a Schwinn. Schwinn was a leader in production and sales of bicycles and then it all fell apart. "No Hands" is the book that describes Schwinn fall from top of bicycles making to bankruptcy.

The Schwinn company was built by an immigrant Ignaz Schwinn with a knowledge of mechanics and a fierce dedication to quality. Over several generations, the company gradually fell apart, as subsequent, born-privileged Schwinn family members took less interest in the company product, focusing on marketing at the expense of manufacturing, and arrogantly believing that the prestige of their name brand would endure over their stubborn reluctance to innovate or modernize. Poor management decisions, outdated production facilities, and increased competition from foreign manufacturers. The company also faced challenges related to high labor costs, reliance on bank loans, and a failure to adapt to changing market trends like the rise of mountain bikes. The book also touches on other bike manufacturers, such as Specialized, Gary Fisher and Trek, and how these companies profited by Schwinn's ''falling asleep at the wheel'' old boys' club-type school of thought.

This is a very interesting book not just for bicyclists or Schwinn enthusiasts, but for anyone with mild interest on how a company can succeed, endure and tragically fail. As a devoted Schwinn fan, it's still comforting to see the Schwinn name on some products today, but I know the "Schwinn Quality" now is just a shade of what the company once was, so it was very interesting to read about how that exactly transpired. By the way that 68 Varsity bicycle I own has 87,000 miles and still running. I highly recommend this book.

[Ralph B · Rating 5 out of 5]

Beyond relating the company history and the many allies-turned -competitors that Schwinn faced in its waning years, I appreciated the authors no-nonsense approach to the rise and fall of this American icon. As true business journalists, they pepper the story with manufacturing and market share data, supporting the narrative along the way.

They also do not romanticize the early company leaders in contrast to the 4th generation Schwinn who took a lot of blame for the company's demise. With a more take charge CEO at the end, it's still doubtful that Schwinn would have survived its market arrogance, complacency in light of new frame technology and inability to let go of family control when outside investors may have helped it survive, though in a smaller form.

I wish I could afford a copy of this out-of-print book (published 1996) so I could keep it as a great reference of bike manufacturing in the 20th century. But the lowest used price of $85 makes it even hard to put on my holiday wish list.

[Jonathan Crites · Rating 3 out of 5]

I’ve been refurbishing an early 70s Collegiate for my wife and saw people online referencing this book on Schwinn’s rise and fall. I enjoyed it, especially as Schwinn’s history serves as a framing device for the history of cycling in America. The last few chapters, the ones describing the swift decline at the end of the 80s into the early 90s, were particularly painful and made for a sad denouement to this former giant of cycling. Would recommend.

[Paul · Rating 3 out of 5]

well researched, but pretty dull

[Ken Mulkern · Rating 4 out of 5]

Very interesting story of the bicycling industry, not just Schwinn.

[Stephen Porter · Rating 4 out of 5]

Very well-written and, for the most part, engrossing, story of the Schwinn bicycle company. While the focus is on Schwinn, it necessarily includes a lot of detail on the entire bicycle industry in America. The book ends with the bankruptcy/demise of the private, family-owned corporation the early '90's

Schwinn rose to the pinnacle of the bike industry in US under it's founder and his son. Eventually, the Peter Principle took effect and the family's mismanagement eventually led to a crash and burn. The hubris exhibited by Edward R. Schwinn, the final family-member CEO, in particular is ASTOUNDING. C'est la vie, I guess.

Besides all the juicy details about behind-the-scenes deals and developments in the bike manufacturing business, I also enjoyed the detailed exposition of the final dissolution--lots of Machiavellian maneuvering there too.

If you like bikes there's a lot of interesting material here. Otherwise, it would be a stretch to recommend it. So, 4-stars for cyclists!

P.S.
One complaint is that this, like 99% of books about bicycles, seem to consider it mandatory to review the ENTIRE history of the bicycle, which gets a bit redundant/boring after you've read a few. You could skip most of the first chapter and not miss much if you are already familiar with the early history of bicycle development.

STP

[Robert Meade · Rating 4 out of 5]

Very good book. If bicycles, bicycle history and all things bicycle interest you, this is a fine read. Schwinn may not be the oldest American bicycle manufacturer but it is arguably the most famous and the name still lives on it is just owned by another company , (Pacific Cycles). The Schwinn family started their bicycle business in 1895, and it took off with the first and maybe the biggest bicycle boom in american history. Then the automobile was invented and hit the road. The automobile soon pushed the bicycle aside and soom became a novelty. It would not remain a novelty. Other bicycle booms came along, most notably the bicycle boom of the early '70's when crude oil became more scarce and the price of gas rose sharply. Bicycles again became very popular not just for parking your car and saving money but for recreation and fun. In the 70's and '80s , Schwinn bicycle shops popped up all over the country and they became brand specific , concept stores which you see more and more of in present modern time. Eventually with all the competition they experienced labor issues and bankruptcy but the bicycle name Schwinn still lives on.

[Doug Gordon · Rating 4 out of 5]

As a bicyclist, I enjoyed reading this as a history of American bicycling -- not just of the Schwinn company. There are stories here of various industry personalities and the start-up of other familiar companies such as Giant, Specialized, Trek, and Shimano.

Having been written in 1996 by a couple of Chicago business writers, the book gets heavy into corporate politics and the machinations of the eventual bankruptcy proceedings. I found some of this to be a bit tedious and hard to follow, but the overall arc of the Schwinn story was easy to understand.

Overall well worth reading as a story of American bicycling and one of its most recognizable brands.

[Eric Walters · Rating 2 out of 5]

I enjoyed the first two-thirds of this book, which related the history of Schwinn up through the 1980s. Then I lost interest, when some of the chapters became essentially spreadsheets on paper - who offered how much on what date for which purpose. I would have preferred more bikes and less breathless finance drama. The book was written by a reporter and editor for Crain's Chicago Business, so I guess the business focus is to be expected.

[Rich Mulvey · Rating 3 out of 5]

An interesting history of the Schwinn company, and its fall in the 1980's and '90s. Generally fun to read, though the author hops back and forth between time periods at odd intervals, occasionally making the narrative somewhat difficult to follow.

[Tom Hospodar · Rating 3 out of 5]

Very comprehensive story spanning three generations. It gets a bit thick with financing detail, some interesting, lots dull. Not enough early technical details to compare to the ton of material about new bikes.
The overall themes were well explained. The title, perfect.

[Meg Bernard · Rating 5 out of 5]

Business-centered account of the company and it's role in cycling. Totally engrossing and very illuminating, even though the authors aren't exactly bike nuts.

[Jack · Rating 4 out of 5]

A deep look at the rise and spectacularly embarrassing fall of perhaps the greatest American bicycle empire of all time.

[Btheman · Rating 4 out of 5]

Loved it, great history about the rise and fall of Schwinn.

[Johnny · Rating 3 out of 5]

Really enjoyed the business history of bikes in the US