Dumbest Moments in Business

Re: Dumbest Moments in Business

Postby smitty on Wed Mar 18, 2009 8:07 pm

The heater was well planned out with info from Natural Gas to probably the best for our building. Unfortunately the President relied on the Building & Grounds Director that has been in said position for umpteen yrs that hired someone, not knowing what we wanted, rather then our own Vice President that IS a home builder. He did say he could not be at it from start to finish & give up his other income, after all this wouldbe a free bit of work on his side plus the help of one or two of us, so the President to Buildings & Grounds Director went at it their way.

Sort of the way things do not go perfect. Possible well in the indoor h/gun section for I have been in charge since '47 bar a few yrs when my parents were close to death & who took over ran it quitely with no changes from my normal & when it came to questions or matters I took care of those along with all the physical business or the indoor range.

I am trying to get it out to the executive that some of us are two old for all this physical business as three our of four of us are into retirement age & myself 87 yrs of age. Two of them are still recovering & I to needed one day to recover, but my 2nd man is out for at least three weeks. Thing is we have very little in young blood that are WILLING to take on said jobs or even part of them especially when it comes to physical work.

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Lastly I have been listening to Obama along with IGA to general money matters. He did well in addressing others all off the cuff. True he did tend to do a bit of humming or hawing, but it was a tough one to come up with the answers to said questions. I one of his prime words was "We Gotta".
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Re: Dumbest Moments in Business

Postby deja vu on Fri Jun 19, 2009 2:53 pm

The Wall Street Journal said flight records show that executives at Regions Financial Corp., Bank of America Corp., Morgan Stanley and Citigroup Inc. had used corporate jets for personal use throughout the financial crisis. The Journal reviewed Federal Aviation Administration flight records of 14 federally aided banks that register planes in their own names.

Bank of America spokesman Scott Silvestri said the Charlotte, N.C.-based bank is currently implementing a new policy under which personal use of corporate aircraft will not be permitted.

Citigroup's policy restricts personal use of company-owned planes to a limited number of executives, "who are encouraged to fly commercial whenever possible to reduce expenses," wrote spokesman Stephen Cohen in an e-mail to The Associated Press.


http://www.msnbc.msn.com/id/31439493/ns ... d_economy/


A new policy only because they were caught, otherwise they would continue to use the planes. Clearly Citigroups policy doesnt work. They can encourage all they want but they will continue to take the private jet. If no one had found out about the Citigroups plane order they would have a new toy in the hanger.

Sell the jets and pay the loans back because the loans are only benefitting the executives and their way of life. Certainly not helping the people who need it most.

Time to put some of those executives on the unemployment line. They definately need a reality check.
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Re: Dumbest Moments in Business

Postby deja vu on Mon Dec 28, 2009 9:23 pm

Alohasand:
"Retention policies" must mean for the executives to stay with the company, they want a regular incentive on top of their salaries to stay. Where do I sign up for the money too?


You need to work for Fannie Mae or Freddie Mac. The government may control them but as usual can't stop the high price bonuses or payments from a 2008 retention program.

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Top executives at mortgage finance giants Fannie Mae and Freddie Mac, both of which have been under government control since last year, received millions of dollars in pay in 2009, according to documents filed by the companies Thursday. The chief executive officers of each company got annual pay packages worth $6 million apiece, while other top execs pulled in at least $2 million.

Fannie Mae (FNM, Fortune 500) CEO Michael Williams, who was promoted to CEO on April 21, will receive about $4.2 million in base salary and deferred cash payments for his time in the top job. The filing does not detail how much he was paid for his time as chief operating officer before his promotion, or what he will earn in 2010.

In addition, Williams and three other top executives are eligible to receive payments pursuant to a 2008 retention program, according to the filing.


http://money.cnn.com/2009/12/24/news/co ... /index.htm
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Re: Dumbest Moments in Business

Postby manga2read on Mon Dec 28, 2009 11:59 pm

Executives get their pays but how about mortgage-holders, are they getting breaks on their payments? Or are executives more concerned with securing their pays first?
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Re: Dumbest Moments in Business

Postby deja vu on Wed May 05, 2010 10:07 pm

(FOXnews) WASHINGTON -- Freddie Mac is asking for $10.6 billion in additional federal aid after posting a big loss in the first three months of the year. It's another sign that the taxpayer bill for stabilizing the housing market will keep mounting.

The McLean, Va.-based mortgage finance company has been effectively owned by the government after nearly collapsing in September 2008. The new request will bring the total tab for rescuing Freddie Mac to $61.3 billion. Freddie Mac says it lost $8 billion, or $2.45 a share, in the January-March period. That takes into account $1.3 billion in dividends paid to the Treasury Department. It compares with a loss of $10.4 billion or $3.18 a share, in the year-ago period.



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Enough already. When will the bail out end for Freddie?
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Re: Dumbest Moments in Business

Postby CielOnTap on Fri May 07, 2010 9:20 pm

Workmen dig up yard at wrong house

By Rod McGuirk, THE ASSOCIATED PRESS
CANBERRA, Australia - Two workmen used a backhoe to dig up grass, topsoil and 10 palm trees from an Australian front yard before realizing they were at the wrong address and fleeing, a homeowner said Thursday.

Peter Collard, 56, said the culprits did an estimated 20,000 Australian ($18,000) in damage in front of a six-bedroom house he was trying to sell in the eastern city of Brisbane -- and that his insurer told him none of the damage was covered by his policy.

Collard's real estate agent saw the men Wednesday during an inspection and was told they had instructions to clear every tree. The agent called Collard to confirm. http://cnews.canoe.ca/CNEWS/WeirdNews/2010/05/06/13841431.html

Let's see--when a dig happens, one's utility locates are to be marked with coloured spray paint. Did the twosome see any markers on their intended worksite? Did either one think to check with homeowners' before starting the task? Did the workers just lose all credibility by running from the scene? Poor trees--they could be in shock, as it is fall in Australia now.
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Re: Dumbest Moments in Business

Postby deja vu on Sat Aug 07, 2010 9:42 am

Lauded for making Hewlett-Packard Co. the world's biggest technology company, CEO Mark Hurd was in negotiations for a new contract worth about $100 million, according to a person familiar with the negotiations. Instead, he's getting about a third of that to just go away.

In a stunning announcement Friday, HP said it ousted Hurd after an investigation of a sexual harassment complaint found that he had falsified expense reports and other documents to conceal a relationship with a contractor. Hurd also allegedly helped the woman get paid for work she didn't do.


http://www.msnbc.msn.com/id/38600171/ns ... _business/


When will these major corporations stop the high priced payouts for these crooks?
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Re: Dumbest Moments in Business

Postby weights on Sat Oct 16, 2010 5:56 pm

Cablevision subscribers in the New York metropolitan area found blacked out Fox channels on their television screens Saturday, while the cable company and Fox parent News Corp. tried to resolve a dispute that threatened broadcasts of baseball playoffs and a football game.

The stalemate that led to Fox pulling its channels after midnight was the latest in a series of programming fee disputes that have led to blackouts of programs such as the Oscars. But the impasse amounted to more than corporate wrangling for Bronx resident Clifford Taylor.


http://www.msnbc.msn.com/id/39698767/ns/business/


Forget dumbest, this is an off the wall lunatic decision.

This could get ugly, playoff season and the screen is blank. Why can't they argue and still show the games? Is that just too much to ask of idiots ruining a lot of weekends?
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Re: Dumbest Moments in Business

Postby deja vu on Wed Apr 20, 2011 6:54 pm

This may be one of the dumbest moves by an owner in the history of baseball. The Dodgers owners are in a little trouble with The Commissioner and the IRS. Seems they have not been above board and may have taken a little cash from the team and forgot to pay the IRS their share. It also doesn't help that they may be paying their kids a nice salary but they are not doing any work for that money. On top of that they took out a loan for 30 million to make the Dodger payroll.


http://www.foxnews.com/sports/2011/04/2 ... s-dodgers/

http://www.nesn.com/2011/04/report-fran ... y-irs.html
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Re: Dumbest Moments in Business

Postby fishandchips on Thu Apr 21, 2011 1:01 pm

Anyone skimming corporate money for their kids better own the company. Getting a loan to make payroll--that seems wrong if personal family members get cash solely for being listed as corporate directors or related to executives.
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