21 Dumbest Moments in Business — 2008by Tim Manni
As soon as I saw the title of this Fortune Magazine article I couldn’t help myself. While sometimes laughter is the best medicine, for now let us take in the seriousness of this list, and allow it to teach us something from the ill-fated decisions that permeated through 2008 (then we’ll shake our heads and say “wow!”):
1. Detroit execs flying to D.C.: The chief executives of General Motors, Chrysler and Ford spark outrage when they fly their corporate jets to Washington D.C. to beg Congress for a multi-billion dollar bailout. More
11) Hope for Homeowners – er, not really: Congress passes bill to keep hundreds of thousands of troubled borrowers in their homes. A whopping 321 applications get filed. More
20) Phil Gramm and the “nation of whiners”: In early July, as the financial crisis spreads to Main Street, McCain campaign co-chair and former senator Phil Gramm appeals to voters and their economic anxieties by calling them a “nation of whiners” and dismisses a troubled economy as a “mental recession.” More
There’s plenty more regrettable moments of 2008 — click here to finish reading the remainder of the “21 Dumbest Business Decisions of 2008.”
What events did Fortune leave out? How about AIG executives spending $442,000 on a weekend retreat just weeks after their substantial government bailout?