Remember these dumbest moments? Here are some of the highlights of stupidity in 2003.
Grand Prize Winners, Dumbest Moments Of 2003
Grand Prize Winners, Dumbest Moments Of 2003
Two greedy Richards.
Richard the First

In August, the board of the New York Stock Exchange decides to give CEO Dick Grasso his $139.5 million pension up front, ostensibly to save the estimated $10 million it would cost to deliver the payout at retirement. Grasso offers a succinct if not altogether satisfying explanation: "I'm blessed." When a firestorm erupts over Grasso's payday, he graciously agrees not to take another $48 million he has coming to him. Then, a week later, Grasso "resigns" - and quickly claims he was fired, which entitles him to another $58 million, including the $48 million he had promised to forgo.

Richard the Second

In October, New York attorney general Eliot Spitzer's wide-ranging investigation of the mutual-fund industry reveals that Dick Strong, the founder and chairman of Strong Financial, has made $600,000 - the equivalent of about 60 bucks to a regular working stiff - through market-timing trades contrary to his own company's rules. He's forced to resign and may have to sell his nearly 90 percent stake in the firm, valued at just under $1 billion.

1

2

3

4

5

6

7

8
101 Dumbest Moments in Business The boors, buffoons, and blunderers of 2006. (more)
10 Grand-prize winners From layoffs gone bad to customers gone mad, these companies outshone the competition. (more)
Dumbest Moments of 2004 Remember these dumbest moments? Here are some of the highlights of stupidity in 2004. (more)
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.