Handleman might be the organization consumers have never heard of.  In 2004 over 11% of all music sold in the US was attributed to HDL.  It was the “indispensable link” between entertainment suppliers and retail merchants. However a few years later, HDL closed its operations for good, bringing an end to its 75-year history.  What does the HDL case reveal about business vulnerability?  What does it suggest about recognizing the markers of decline?  What are the implications for the level of effort and speed leaders devote to creating future possibilities?