Because the industry is peopled with cretins, scoundrels, and bigots..
(toes not mean that it may not have worked, once upon a time.
DAVID ROBINSON, CRITIC/JOURNALIST, 1982

Industry Recession, 1969-1971

For the American film industry, the 1970s began in a state of dislocation matched only by the coming of sound. The recession of 1969 had produced more than $200 million in losses; left MGM, Warner Bros., and United Artists under new management; and brought Universal and Columbia close to liquidation.¹ By October 1969, the industry had declared a production moratorium and stood on the brink of a four-year period of retrenchment. Of the majors, only Warners and Columbia had started more pictures in 1969 than in 1968,² and during 1969-1970 the number of feature films released by the majors dropped by nearly 34 percent, causing widespread unemployment and what the Los Angeles Times would call "an out and...