FoxBusiness.com posts Top 5 Biggest Business Blunders of 2016
“Nobody’s perfect and corporate executives are just like you and me. But when you’re running a publicly traded company and billions in wealth is made or lost by a stock price swing, the stakes are much higher. In FOXBusiness.com’s list of the Biggest Business Blunders of 2016, some executives are likely wishing they exercised better judgement, better oversight or that they just had better luck.”
#1 “You’ve Been Hacked” The massive hack of Yahoo impacted one billion users! (Can you say ouch?) We always suggest using your business domain for email.
#2 “Wells Fargo Rip-offs” Wells Fargo agreed to pay a record $185 million fine for opening as many as 2 million phony customer accounts over a number of years to allegedly meet sales quotas. Do your research before you you purchase a business and/or take out a loan. We can help you buy or sell a business. Call us for suggestions. 612-467-9673
#3 “Samsung Goes BOOM!” The Galaxy Note 7 reported of exploding and fire-prone batteries. BOOM! There are times you just cannot avoid faulty manufacturing.
#4 “Mylan’s EpiPen Price Jump” The company announced that the price of a 2-pack pen jumped to from $400 to $600 people got ticked! Can you say Price Gouge? We don’t even want to comment on this one.
#5 “Facebook Fails Truth” During the presidential campaign Facebook came under fire for burying conservative feeds. Not only that the company disclosed the methods it uses to track engagement may be artificially high. (Oh really?) Then came the fake news articles and the suggestions that these planted stories may have influenced the election? You know we get all our news from Facebook. That’s the truth. (Yes we are joking.)
May 2017 be prosperous for you and your business!
The Gibbs Group: Our mission is to help our clients realize their dreams by helping them buy or sell a business.
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