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)