Midway's epic downfall condensed by Gamasutra

For those who didn't keep up with the collapse of Midway in real time, or aren't in the mood to check out every bit of minutia about the epic, Gamasutra has extracted the highlights. The piece showcases the publisher's financial issues -- like the fact Midway hasn't had any annual profits since 1999 -- the management's lack of vision, and finally the last couple years where even the most casual industry observer could watch things go horribly wrong.

The second half of the feature covers the anatomy of the disaster and stops short of getting into these past six months, which, in fairness, given the mysterious Mark Thomas, still makes very little sense. It's definitely worth the read for those who want to know how not to run a company, and for those who just like to point and cry at the stupid.

This article was originally published on Joystiq.