I love the end of the year if only for all of the Top [Insert List Here] of 2008. You name it – Weirdest News, Best Mug Shots, Top Media Blunders – I read them all! CNNMoney today releases what is sure to be a favorite – and somewhat educational – list: 21 Dumbest Moments in Business. Without further ado, some highlights of the companies who surely had a rougher year than you:
• The Big Three show up for a government handout of $25 billion, each by private jet.
• Is that “forward” or “reply all”? (Now former) Countrywide CEO and real estate king Angelo Mozila accidentally “replies all” to an e-mail plea from a homeowner feeling the effects of his sub-prime mortgage – of which Mozila is known as the pioneer of – calling the plea and homeowner "disgusting" and "unbelievable." His mis-click makes its way to the Internet and Mozila makes his way to the unemployment line.
• Sexy oil: Staffers from a division of the Department of Interior are caught trading gifts, having sex and participating in illicit drug use with oil companies they are supposed to be overseeing.
• Denial isn’t just a river in Egypt. In reaction to the Lehman Brothers' bankruptcy, then-presidential candidate McCain declares, “The fundamentals of this economy are strong.” The Obama campaign jumps on the comment, painting McCain as out of touch and just another Bushie.
• Mad money: The biggest Ponzi scheme of all time is revealed to have been headed by famous money manager Bernard Madoff, and the Securities and Exchange Commission is revealed as having failed to catch the scheme during investigations that stretched across a decade.
If you can stomach it, read the entire list of 21 “d’oh!” worthy biz blunders here. In the meantime, your 2008 isn’t looking so bad, is it? Happy New Year from PDD!
Source:
CNNMoney “21 Dumbest Moments in Business”
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