Tuesday, January 23, 2007

101 Dumbest Moments in Business

This is always a fun annual list. Wal-Mart did so poorly they made the list SIX TIMES including the #1 spot. #1 was hiring PR firm Edelman to turn around the company's image. In case you wondered, it hasn't worked. A few of my favorites just glancing through the list.

#2 Northwest Airlines: When they laid off some employees they gave them a helpful manual called "101 Ways to Save Money." These included "...dumpster diving ("Don't be shy about pulling something you like out of the trash"), making your own baby food, shredding old newspapers for use as cat litter, and taking walks in the woods as a low-cost dating alternative."

#5 Kazakhstan misspells "bank" on their currency. Take that Borat!

#11 Starbucks gives free lattes to friends and family members of employees through e-mail. E-mail can be copied and sent repeatedly though. Starbucks cancels the deal.

#14 Vonage IPO: Just a disaster in every sense of the word.

#32 TradingMarkets: One of these professional stock advising services that charges money. They invited 10 Playboy Bunnies for a contest. 40% of the Bunnies beat the S&P 500. The number of actively managed mutual funds is 29%. So handing those dollar bills to naked women with big breasts may actually be a sound investment.

#80 News Corp: The O.J. Simpson "If I Did It" Special. I remember hearing about this months before the controversy and thought it was just a dumb joke. Well I was wrong about the joke part.

#86 Wal-Mart's DVD web service: Customers who look at Charlie and the CHOCOLATE Factory and Planet of the APES are steered towards similar items such as a Martin Luther King documentary and Unforgivable Blackness: The Rise and Fall of Jack Johnson. In other news, it's been a great year for Wal-Mart.

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