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(Marketwatch)   The ten worst-managed companies in America   (marketwatch.com) divider line 91
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10767 clicks; posted to Business » on 22 Jun 2008 at 5:53 AM (6 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2008-06-22 01:22:26 AM
It is now struggling with the possibility that it has too many in the US. Starbucks went from becoming a very good coffee shop to a location which sold breakfast food, sandwiches, music, and WiFi. The vision became clouded.

How could they have not possibly seen this coming?
 
2008-06-22 01:38:53 AM
Suicidal Writer: It is now struggling with the possibility that it has too many in the US. Starbucks went from becoming a very good coffee shop to a location which sold breakfast food, sandwiches, music, and WiFi. The vision became clouded.

How could they have not possibly seen this coming?


Anyone who's ever worked in corporate america can easily understand how this could happen....
 
2008-06-22 02:09:15 AM
Weaver95: Anyone who's ever worked in corporate america can easily understand how this could happen....

/Disney "employee"
//not by choice
///understands "synergy"
 
2008-06-22 02:09:50 AM
Weaver95: Suicidal Writer: It is now struggling with the possibility that it has too many in the US. Starbucks went from becoming a very good coffee shop to a location which sold breakfast food, sandwiches, music, and WiFi. The vision became clouded.

How could they have not possibly seen this coming?

Anyone who's ever worked in corporate america can easily understand how this could happen....


Oh yeah. When you hear someone in upper management utter the words "We are actively pursuing new markets," you know you're farked. How about just continuing to do your current "markets" well?
 
2008-06-22 02:20:44 AM
I'll vouch for the horrid state of Sears (including Kmart) I currently sell to both of these accounts. They are disorganized and dishonest. They rape their suppliers and waste great piles of cash on overhead and offices. Their Hong Kong office is an ultra modern top floor high rise. They literally use some of the most expensive real estate in the world as a closet for samples and papers. 1000's of square feet that rents for $600/square foot/year. I have had 6 buyers in the last 4 years, each one more incompetent than the next.

They truly suck
 
2008-06-22 02:28:14 AM
I wouldn't know about most of the companies on the list, but I do know Starbucks could stand to close about half of its locations.

There is absolutely no reason there should be Starbucks across the street from each other or multiple locations within a square mile. NONE.

And I'm guessing a company Pfizer is still going to do fine even after whatever pummeling articles like this try to depict.
 
2008-06-22 02:33:39 AM
But I thought the private sector was infallible and should be running everything in our lives.
 
2008-06-22 02:44:32 AM
 
2008-06-22 03:37:05 AM
RocketRod: /Disney "employee"

Is that how you got your handle?
 
2008-06-22 03:54:36 AM
I worked for Sears years ago for awhile. Those of you who think Wal-Mart is evil need to focus on those twits first.
 
2008-06-22 04:00:14 AM
jake_lex: Oh yeah. When you hear someone in upper management utter the words "We are actively pursuing new markets," you know you're farked. How about just continuing to do your current "markets" well?

Greedy shareholders dictate that businesses find more ways to make more money. Corporate hubris leads those businesses into areas outside of their core competencies.
 
2008-06-22 05:22:29 AM
JerseyTim: 11. Cablevision and its subsidiary Madison Square Garden, L.P., owner of the New York Knicks.

As an NBA fan, I am proud to say that every team in the NBA is happy the Dolan family doesn't know how to deliver a quality product.
 
2008-06-22 05:47:27 AM
I'm surprised not to see any airlines mentioned.
 
2008-06-22 06:11:54 AM
How can GM, Ford, Chrysler not be on that list. At least the ones on that list aren't laying off & shutting down factories.
 
2008-06-22 06:14:41 AM
whidbey: There is absolutely no reason there should be Starbucks across the street from each other or multiple locations within a square mile

Actually within cities, they do quite well having a couple locations close to each other. It's a matter of volume, if you have enough people going past, you can easily keep several going within a small area.
 
2008-06-22 06:19:05 AM
Great Janitor: I'm surprised not to see any airlines mentioned.

those would be on the no apparent management list ;)
 
2008-06-22 06:22:12 AM
Guess the one I work for must be number 11
 
2008-06-22 06:51:19 AM
Suicidal Writer
It is now struggling with the possibility that it has too many in the US. Starbucks went from becoming a very good coffee shop to a location which sold breakfast food, sandwiches, music, and WiFi. The vision became clouded.

How could they have not possibly seen this coming?


Because the vision became clouded. That's why they couldn't see it coming.
 
2008-06-22 07:29:24 AM
smeag0l

GM, Ford

Ding ding ding!
 
2008-06-22 07:37:18 AM
I was fully expecting to see Sprint on this list and wasn't disappointed after clicking the link:

"5. Sprint (S) The cellular provider routinely shows up on lists of US companies with the worst customer service. That is not among phone companies, it is among all companies."

And it's been this way for YEARS. You would think after this long someone at that company would get a clue. Instead of working the issue, there has been a long line of massive failures the company has attempted as a 'get rich quick' scheme type fix. From ION to the Nextel merger to the WiMAX project, it's embarassing failure after failure. The only thing that can fix Sprint now is a massive enema of every single member of management from the top all the way down to departmental managers. And this includes everyone over at Embarq as well. Bringing in the Embarq CEO to lead Sprint is just a continuation of the massive amount of FAIL going on at the Sprint Campus. Flush them all out before it's too late.
 
2008-06-22 07:46:49 AM
Sun will be acquired before the end of the year by someone, likely IBM (who knows how to make a profit from open source).
 
2008-06-22 08:00:43 AM
I for one can't see how PBY is not on this list. The present CEO formerly ran SHLD in the ground, and doing the same to PBY.
 
2008-06-22 08:50:23 AM
Ghastly: But I thought the private sector was infallible and should be running everything in our lives.

No, no, see, the Free Market (tm) only screws up whenever the government steps in. If it weren't for the government, the Free Market (tm) would work perfectly.

/Channeling one of our local idiots.
 
2008-06-22 08:55:33 AM
I was surprised that Circuit City wasn't #1 on the list. Starting with firing firing their most senior store employees because they could replace them cheaper. Then the company is offered to be bought out by BBI and they dismiss it without disussing with the board.

The only time I would ever root for Icahn is his moves against Circuit City.
 
2008-06-22 08:58:04 AM
Any list that doesn't include United Airlines is incomplete at best.
 
2008-06-22 09:14:59 AM
"1. Sun Microsystems (JAVA). "

...is the kind of company that if you have a bottomless pit of cash and don't give a shiat, they're for you.
 
2008-06-22 09:27:55 AM
jake_lex: Weaver95: Suicidal Writer: It is now struggling with the possibility that it has too many in the US. Starbucks went from becoming a very good coffee shop to a location which sold breakfast food, sandwiches, music, and WiFi. The vision became clouded.

How could they have not possibly seen this coming?

Anyone who's ever worked in corporate america can easily understand how this could happen....

Oh yeah. When you hear someone in upper management utter the words "We are actively pursuing new markets," you know you're farked. How about just continuing to do your current "markets" well?


Ever hear of a "stockholder derivative suit?" It's what happens when you pursue long term success instead of short term profit.
 
2008-06-22 10:27:39 AM
A former employer of mine makes the list. Hello, Moto.

Engadget had a great article a while back on why Motorola is in the crapper. According to that article, Motorola's current CEO won't even use e-mail--he has his e-mail printed for him and dictates his responses to a secretary. That's a scary thing to say about the CEO of a technology company.

Getting laid off from there was one of the best things to happen to me in the last few years.
 
2008-06-22 10:34:02 AM
The biggest mistake Pfizer made was selling its consumer products division to J&J. Consumer sales are an anchor when the pharma division has a bad year. R&D is unpredictable and generics are always gonna dig into your profits, but people aren't gonna stop using Listerine.
 
2008-06-22 10:49:25 AM
Countrywide isn't even on the list?

Hell, they should be NUMBER 1.

They are singlehandedly the reason for the mortgage meltdown in we're in right now.
 
2008-06-22 10:51:33 AM
I seem to work for nothing but poorly managed companies, but they're all too small to be on this list.
 
2008-06-22 10:54:26 AM
Uhhhhh...

www.cbc.ca

I guess calling out the CEO and his "hey employees, thanks for all your sacrifices to get us out of bankruptcy so we executives could reward ourselves with massive stock bonuses" behavior would actually bring attention to the overarching mentality.

Also, Best Buy's 60% annual turnover rate is pretty good evidence of a vicious menstrual cycle of suck, starting with Brad up top.
 
2008-06-22 11:19:53 AM
NASAM2008-06-22 10:49:25 AMCountrywide isn't even on the list?Hell, they should be NUMBER 1.They are singlehandedly the reason for the mortgage meltdown in we're in right now.

It must be nice to live in such a simplified world.
 
2008-06-22 11:43:59 AM
Ghastly: But I thought the private sector was infallible and should be running everything in our lives.

In the free market, businesses that perform poorly should fail. When they get bailed out by the government, like what is about to happen to for some mortgage companies, it makes removes much of the risk behind shaky business practices. Instead of being ousted or jailed for mismanagement, these CEOs get bonuses for 'saving' the company (never mind that they doomed it in the first place).

Personally I think we need a moderated market where shady business men are put in jail for longer than the dime bag dealer, while allowing the business to fail. We have unemployment for workers now, and while not great, its not really meant to replace a job.
 
2008-06-22 11:50:24 AM
wombatsrus: Sun will be acquired before the end of the year by someone, likely IBM (who knows how to make a profit from open source).

It would be kind of interesting to see Apple acquire Sun.

I wonder if they could carve out a niche market for pricey but easy to use servers designed to work with Macs.

iServer anyone?


/I'll feel better when Java's finished moving over to GPL
 
2008-06-22 11:50:30 AM
The dumbest company I ever worked for was a family-owned one that did quite well serving a niche market, using the idea that you can't be all things to all people. Then they started branching out all over the place, achieving nothing but monumental FAIL, including their niche market that they neglected. In all honesty, they could have done decently if they hadn't been so cheap about it.

They didn't properly fund capital expenditures because they didn't have any capital. They didn't have any capital because they refused to take the company public. They didn't take the company public because they didn't want to have to answer to anyone else. They didn't want to answer to anyone else because they would be able to blame the failure of their dumb ideas on others.

Quite the cunning plan...
 
2008-06-22 12:00:06 PM
meshman: "1. Sun Microsystems (JAVA). "

...is the kind of company that if you have a bottomless pit of cash and don't give a shiat, they're for you.


So, a company who makes small gains and small losses in an unstable IT market is useless to greedy fund managers because it can't gain obscene profit and it's stock drops 40% because of it.
 
2008-06-22 12:02:24 PM
Rite aid is number 11. Stocked dropped more than 70 %, 6 Billion in debt. But dont worry, CEO got a 5 million dollar bonus this year.
 
2008-06-22 12:10:28 PM
Jeremy Bates: Ghastly: But I thought the private sector was infallible and should be running everything in our lives.

No, no, see, the Free Market (tm) only screws up whenever the government steps in. If it weren't for the government, the Free Market (tm) would work perfectly.

/Channeling one of our local idiots.



Oh! OH! ME! Mememememememeeeeee!

Ahem:

The free market cured my bunions, and gave me the sexual stamina of thirty normal men. It also provides me with the vital nutrients I need each day to excel in the workaday world, and makes me irresistibly attractive to women.

But seriously....

If there were no free market, all corporations would be run by the government...which is currently carrying a debt so large that it has shifted the center of mass of the planet, causing it to wobble ever closer to the sun.

That's right...GOVERNMENT is the cause of global warming. And bunions.
 
2008-06-22 12:17:16 PM
jake_lex: When you hear someone in upper management utter the words "We are actively pursuing new markets," you know you're farked. How about just continuing to do your current "markets" well?

But that realignment strategy worked so well for Ford when it changed focus from building cars to selling credit cards, and for GM when it refocused to home mortgages, and Chrysler when it... well, Chrysler hasn't thought much about building cars in 20 years, but you get my snark.
 
2008-06-22 12:17:49 PM
I'm very glad to see my parent company isn't on the list.

/it should be
 
2008-06-22 12:19:17 PM
Does the government count?
 
2008-06-22 12:29:08 PM
::checks to see if list contains Sears and Circuit City::

Ok, this list gets my approval.
 
2008-06-22 12:36:42 PM
dionysos: I'm very glad to see my parent company isn't on the list.

/it should be


What an ungrateful little corporate spinoff you are!
 
2008-06-22 12:37:22 PM
How can any of these be bad? They're all run by businessmen! Only government is bad and makes misteaks.
 
2008-06-22 01:00:35 PM
RocketRod
/Disney "employee"
//not by choice
///understands "synergy"


/Disney employee
//by choice
///get the fark out and let the door smack your ass on the way out.
 
2008-06-22 01:13:06 PM
KeatingFive Quote 2008-06-22 12:37:22 PM
How can any of these be bad? They're all run by businessmen! Only government is bad and makes misteaks.


Actually it's more like they both make mistakes but only businesses pay for them.
 
2008-06-22 01:35:59 PM
Cybernetic: A former employer of mine makes the list. Hello, Moto.

Engadget had a great article a while back on why Motorola is in the crapper. According to that article, Motorola's current CEO won't even use e-mail--he has his e-mail printed for him and dictates his responses to a secretary. That's a scary thing to say about the CEO of a technology company.

Getting laid off from there was one of the best things to happen to me in the last few years.


That letter is quite interesting! Very scathing. Ouch.
 
2008-06-22 01:47:38 PM
PirateFreedom: KeatingFive Quote 2008-06-22 12:37:22 PM
How can any of these be bad? They're all run by businessmen! Only government is bad and makes misteaks.

Actually it's more like they both make mistakes but only businesses pay for them.


No, businesses get bailed out by the government. And of course, stockholders are shielded from lawsuits by...the government.
 
2008-06-22 01:57:26 PM
OurManFlint1: I'll vouch for the horrid state of Sears (including Kmart) I currently sell to both of these accounts. They are disorganized and dishonest. They rape their suppliers and waste great piles of cash on overhead and offices. Their Hong Kong office is an ultra modern top floor high rise. They literally use some of the most expensive real estate in the world as a closet for samples and papers. 1000's of square feet that rents for $600/square foot/year. I have had 6 buyers in the last 4 years, each one more incompetent than the next.

They truly suck


Thanks for that story. Worst corp that I've ever worked at. Ever.

They are on my 2008 deathwatch list along with Amy Winehouse.
 
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