Re: Eric Bischoff almost put the WWF out of the business
A big part of the problem when the WCW was starting to lose in the ratings was that a lot of the top stars were injured. From what I've seen, the plan was for Goldberg, whom just lost the title to Nash, to basically go through the Wolfpac members one by one until he got back to Hogan. Almost everyone ended up getting injured (including Goldberg) and this left them in a position where the guys thrusted in the spotlight simply weren't on TV. The same thing happened the following year when they tried to reform the nwo with Hart, Jarrett, and others.
All of the other reasons have been said, politics, guys getting lazy because they knew they had guaranteed pay days, drugs and alcohol, and the fact that WCW had a lot of guys that didn't belong in management. The rise of Austin and the Rock, had a lot to do with it too.
The biggest turning point for me had to be when WCW got Bret Hart in the company, that was when things looked extremely bleak and they completely screwed up the angle. The WWE couldn't afford his contract and he went into WCW just holding the WWF title and losing it off of a very controversial finish, the thing had ratings written all over, and instead they put him on TV as little as possible. WCW really fumbled here, if handled right, wrestling history could've really chagned.