101 dumbest moments in business: Companies
The year in shenanigans, skulduggery, and just plain stupidity in the world of companies.
17. Say "cheesed."
Three and a half years after filing for Chapter 11, Polaroid is sold to Petters Group Worldwide for $426 million. Chairman Jacques Nasser and CEO J. Michael Pocock walk away with $12.8 million and $8.5 million, respectively. More than 4,000 retirees, meanwhile, receive one-time checks for $47 but lose their medical and life insurance benefits.

18. Perhaps they should change the motto to "Don't be stupid."
New Google employee Mark Jen adds a post to his blog in which he says he spent his first day in an HR presentation about "nothing in particular." Apparently, Jen snoozed through the company's strict disclosure rules. In a subsequent post, he reveals that the company expects unprecedented revenues and profit growth in 2005, projections that Google has yet to share with Wall Street. Jen soon receives another presentation from HR: a pink slip.

19. "Don't be stupid" keeps sounding better and better.
101 DUMBEST IDEAS in business

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2006 Smart List
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In July, Google informs CNET that it will prohibit company employees from talking to its reporters for a full year. Why the boycott? In an article about Google's privacy practices, CNET reporter Elinor Mills demonstrated the kind of personal information that can be found online by googling CEO Eric Schmidt, revealing his $1.5 billion net worth, details of his attendance at a $10,000-a-plate fund-raiser for Al Gore, and -- gasp! -- his passion for flying airplanes. In September, facing criticism for hypocrisy and overreaction, Schmidt cuts short the silent treatment and grants Mills an interview.

23. New for 2006: gaunt, hollow-eyed Stalking You Bear.
In January the Vermont Teddy Bear Co. receives protests from the mental-health community over its Crazy for You Bear, a plush toy in a straitjacket that comes with commitment papers. The company agrees to discontinue the bear.

31. Next up: the caramel crown of thorns.
In March, Russell Stover unveils its new Easter candy: 6-inch chocolate crucifixes. The Roman Catholic diocese in Bridgeport, Conn., denounces the confection, saying that an edible version of the cross on which Jesus Christ died is not an appropriate Easter-basket mate for marshmallow chicks and chocolate bunnies.

33. It'll be even clearer when the accents are from Bangalore.
Several McDonald's outlets in the Pacific Northwest begin outsourcing drive-through functions to remote call centers staffed by "professional order-takers" with "very strong communication skills." Says CEO Jim Skinner, "If you're in L.A. and you hear a person with a North Dakota accent taking your order, you'll know what we're up to."

35. Meanwhile, in other news about Wal-Mart and Germans ...
In November, Wal-Mart loses an appeal of a ruling that its attempts to prohibit workplace romances among its 10,500 employees in Germany conflict with the country's laws. Wal-Mart had tried to introduce a 28-page ethical code that reportedly banned "lustful glances and ambiguous jokes" as well as "sexually meaningful communication of any type."`

36. We know why you fly ... JetBlue.
The winner of the American Airlines "We Know Why You Fly" contest, which promised to award 24 round-trip tickets to the traveler who submitted the best video about his airborne experiences, turns down the grand prize. Why? Because American fails to cover the winner's federal, state, and local income taxes, which amount to about $19,000, or $800 per ticket.

38. Jeez, it's just a little beeping noise. Don't go having a heart attack.
In June, Guidant recalls 50,000 heart defibrillators -- about 38,600 of them already implanted in people's chests -- that might, in rare cases, short-circuit when they're supposed to deliver vital electrical jolts. The recall comes after the devices were reported to have failed at least 45 times, including two instances in which the patients died. Guidant fixed the flaw in devices made after mid-2002 but neglected to inform doctors and continued to sell units produced before the fix. The recall advises patients that, should the device malfunction, it will emit a beeping noise, at which point they should contact their doctors or head to an emergency room.

Next: 101 Dumbest Moments in Business: Full list >>


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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.