Face it. 2008 was a culmination in a cyclical period of right royal self screw-age that the American business world just went through. Fortune lists the 21 dumbest moments in business in 2008.
Among the dumb stuff highlighted was the Paulson plan, Henry Paulson, Henry Paulson and Henry Paulson. The big 3 ‘big’ automaker’s CEOs, jet flights, hybrids also made the list.
The housing bubble, voluntary homeowner rescue plans that called for banks to run a loss (like they weren’t running enough already) to save the housing market kind of made it to the list as well along with
the people who ‘displaced’ blame at ‘speculators’ for artificially increasing the price of oil and followed up with blaming ‘collapsing demand’ for its sudden drop. But i suppose no one really knows wtf happened in the oil markets, really.
The whole Steve Ballmer (Microsoft) and Jerry Yang(Yahoo) thingummy figured heavy on the dumb list. Stevie for escaping by the skin of his nose by overvaluing yahoo and Jerry for missing out on pay day numero uno.
If you’ve not heard of Bernard L. Madoff then you should be ashamed of calling yourself a part of the great nation that spawned the likes of Sakvithi, cos this guy carried out one of the biggest scams in history. and he did it for decades too. His simple model for tricking the likes of Greenspan? The returns for your older investors are the new investments that come in. Rotation baby, it’s the new twist.
Something that i thought was not dumb at all was the Apple i-phone application. Here you had developers making millions by devising little games and selling em for $10 each to i phone users and one smart sonofagun thinks up a screensaver that is just a giant red ruby swirling on screen, calls it ‘I Am Rich’ and retails it for $999.99. How smart is that? eight people actually bought it (the i-phone retails for just $200) before Aple pulled it out. But i say why pull it out? i mean what brilliance! If you’re rich, own an i-phone and want people to know. This app is for you! Niche marketing much?
Anyways I couldn’t resist giving a coupla slight spoilers but there are more good ones in here. With special appearances by everybody’s favorite two presidential candidates