Dumbest Moments in Business

Re: Dumbest Moments in Business

Postby alohasand on Thu Apr 21, 2011 5:18 pm

*Detroit pleads poverty - in style
Like someone arriving at a food bank in a limousine, the chief executives of the three major U.S.
automakers spark outrage when they fly their corporate jets to Washington D.C. to beg Congress
for a multi-billion dollar bailout.


That was part of the first post to lead this thread topic. Have corporate executives remembered the image lessons from that bailout by jet plane appearance?

No one has all the right answers for business. Someone has to guide it, watch it, mentor it, grow it and then plan to pass it on.
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Re: Dumbest Moments in Business

Postby deja vu on Tue Jul 12, 2011 7:23 pm

>

http://www.vancouversun.com/pressure+mo ... story.html

http://www.bbc.co.uk/news/uk-14116786

They are still digging but so far Rupert Murdoch and his crew are a gold mine in dumb and cruel moments in their business dealings. The tip of the iceberg came to light with the activities of his staff at News Of The World.
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Re: Dumbest Moments in Business

Postby no1home on Sun Jul 17, 2011 1:52 pm

Rebekah Brooks, the former head of Rupert Murdoch's U.K. newspaper business, was arrested on Sunday in the latest twist of a phone-hacking scandal that has tainted British police and politicians and shaken the tycoon's global media empire.

Several sources familiar with the situation said Brooks, 43, was being questioned as part of an investigation into allegations of illegal voicemail interception and police bribery at the News of the World tabloid she once edited.

http://www.ottawacitizen.com/business/R ... story.html

The jail cells are filling up, I wonder if Murdoch will ever get a chance to get up close and personal with one. If not Murdoch, who will be fitted with some cuffs next?
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Re: Dumbest Moments in Business

Postby Surgeonsoul on Mon Jul 18, 2011 3:06 pm

Sean Hoare, the first News of the World journalist to link the tabloid’s former editor Andy Coulson to the phone-hacking scandal now enveloping the U.K., has been found dead, the Guardian reports.

Global news organizations have picked up the story, but police have not yet publicly confirmed the identity of a body found in a home in Watford was that of Hoare.

http://www.thestar.com/news/world/artic ... eport?bn=1


Sad but I guess it's not unexpected. Either the pressure got to him or someone has committed murder. There are a lot of angry people out of work because of this massive scandal, so it should be no surprise to anyone if he was killed. He did the world a favor by blowing the roof off of this disturbing scandal, but there are some that prefer destroying peoples lives.
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Re: Dumbest Moments in Business

Postby keychain on Tue Jan 17, 2012 10:43 pm

Day 2 of the trial into alleged accounting fraud by Nortel’s top three financial executives and half of Monday’s packed crowd has vanished. A very lengthy opening on accrued liabilities by Crown prosecutor Robert Hubbard will do that.

Down the left side of the fourth-floor courtroom in downtown Toronto, the three accused are inscrutable. Appropriately enough, they sit in the precise order of their seniority when they were at Nortel. Frank Dunn, the tall, white-haired former CEO occupies the bench at the front, closest to the judge. Former chief financial officer Douglas Beatty is behind him, and former company controller Michael Gollogly sits in the third row.

http://www.ottawacitizen.com/business/N ... story.html


Is anyone really surprised? Starting recovering their bonuses and you may get their attention, otherwise they just hide behind high priced lawyers hoping to walk free. They are all lining their accounts, not just these guys. They just happened to get caught.
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Re: Dumbest Moments in Business

Postby Eureka on Sat Apr 14, 2012 5:01 pm

Hey, it was just a few zeroes.

A BMO Nesbitt Burns trader mistakenly put through an order to sell 33 million shares on the TSX when he meant to sell only 33,000. To make a bad day worse, the shares were those of his parent company: Bank of Montreal. The flub happened on Oct. 13, 2010 (no, it wasn’t a Friday) according to a settlement offer before the Investment Industry Regulatory Organization of Canada. (IIROC)


http://www.thestar.com/business/article ... under?bn=1


This may be one of the dumbest. Having a bad day doesn't cover this one, this is a royal screw up.

He is lucky they were able to reverse the major error, but the trader should not be allowed to do this type of work again. At least not for a while. Now they need to focus on putting some protection in place so another trader doesn't make the same mistake again. Darn lucky he didn't lose his job.
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Re: Dumbest Moments in Business

Postby Surgeonsoul on Mon Jul 02, 2012 9:32 pm

GlaxoSmithKline (GSK) is to pay $3bn (£1.9bn) in the largest healthcare fraud settlement in US history.

The drug giant is to plead guilty to promoting two drugs for unapproved uses and failing to report safety data about a diabetes drug to the Food and Drug Administration (FDA). The settlement will cover criminal fines as well as civil settlements with the federal and state governments. The case concerns the drugs Paxil, Wellbutrin and Avandia.


http://www.bbc.co.uk/news/world-us-canada-18673220

Never thought I would see the day that their backroom antics would catch up with them. It's about time, BUT I doubt it will really change how they do business. They will probably just find a new way to hide their activities.
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Re: Dumbest Moments in Business

Postby deja vu on Thu Nov 07, 2013 12:35 am

He should have quit while he was ahead. This is a huge example of "foot in the mouth" disease and he has it bad. Really dumb decision to go on International TV and insult the very customers you rely on to buy your product.

http://www.today.com/style/lululemon-co ... 8C11547236


A few months back, Lululemon Athletica’s too-sheer yoga pants transformed some women’s workouts into unintentional peep shows. This week a company co-founder spoke out about the fabric flap, calling it a “mistake” on Lululemon’s part and also attributing some of the problems to certain women’s body types.

“Frankly, some women’s bodies just don’t actually work” for the yoga pants, Chip Wilson said Tuesday in an interview on Bloomberg TV’s “Street Smart” program.

They don't work for some women’s bodies,” Wilson continued. “It’s really about the rubbing through the thighs, how much pressure is there over a period of time and how they much they use it.”



Problem is the complaining customers are from the tiny to large build and all have the same complaint. . From what I saw of the TV news on various channels today is the women they interviewed all said they will take their business elsewhere. Clearly Lululemon doesn't want or need their business.

The first time this came out, they gave people the chance to return them for a refund. Then they said they solved the problem with the new batch, except the new batch is still see through when you walk around in them or work out.

Way to go. Insult the paying customers isn't the best way to get them into the stores to spend money. Even the interviewer looked surprised when he started the insults.
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Re: Dumbest Moments in Business

Postby flipflop on Tue Dec 10, 2013 8:38 pm

Lululemon Athletica named a new chief executive Tuesday and announced founder Chip Wilson is stepping down as chairman as the athletic clothing retailer looked to put a difficult 2013 behind it.

The changes mark the end of the five years of dramatic growth of the Vancouver-based company with Wilson and outgoing CEO Christine Day at the helm. “Christine Day’s five or so years at Lululemon can only be described as wildly successful and her presence, talents, and motivational skills will be missed,” RBC Capital Markets analyst Howard Tubin wrote in a note to clients.


http://www.vancouversun.com/business/Lu ... story.html

But, not until June 2014, so for some it's not soon enough. Why didn't someone think to muzzle him the moment
he started talking.
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Re: Dumbest Moments in Business

Postby manga2read on Thu Dec 12, 2013 11:41 pm

There may be a listen to the top person in the company and don't contradict or challenge his/her statements mentality-ties in with job security.
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