Ten Worst Companies in 2003

[Marc]

From Alternet

2003 was not a year of garden variety corporate wrongdoing. No, the sheer variety, reach and intricacy of corporate schemes, scandal and crimes were spellbinding. Not an easy year to pick the 10 worst companies, for sure.

http://www.alternet.org/story.html?StoryID=17783

[Wes Bucey]

In Reply to Parent Post by Marc

From Alternet

2003 was not a year of garden variety corporate wrongdoing. No, the sheer variety, reach and intricacy of corporate schemes, scandal and crimes were spellbinding. Not an easy year to pick the 10 worst companies, for sure.

http://www.alternet.org/story.html?StoryID=17783

For the public companies, at least, some of the blame goes to shareholders who willingly buy into companies which pursue "profit at any cost" without investigation and consideration of the ethical character of the company and its executives.

Shareholders are the ones who allow "cozy" board connections between ceo's and the board members who are supposed to oversee the actions of the company officers.

I think candidates for boards should be chosen by outside committees with no ties to the corporate officers. Board members who miss more than 1/4 of the meetings (like Kissinger does on many of the Boards he serves on) should be summarily replaced.

Board members should not be adversarial with the officers, but they should be independent and willing to do more than collect pay for the marquee value of their names. CEO's and officers should not be allowed to vote proxies; proxies should be apportioned to independent shareholder representatives for voting purposes.

[Al Dyer]

I have to give a thumbs down to the many (big 3) area auto plants that are moving their bases of operation outside of the country. There are still many small suppliers but they are becomomg few and far between and can hardly make ends meet with the limitless concession required by the big boys in the last few years.

I believe the harder item to fathom are the tier 2 & 3's that are following suit. What ever happened to setting up a plant with all the suppliers surrounding and supplying the plant in a tangible manner. Has the Almighty dollar gone this far that the rest of us will be jobless soon?

Al...

[Mike S.]

I thought politics was off-limits in the Cove these days. I guess I was wrong.

No doubt some of these companies and/or their employees were involved in lawbreaking to various degrees, but by what consistent criteria did the writer determine "worst"? It did not seem to relate to quality in any way. Politics seemed to play a role, though, IMO. Imagine, one of the "worst" companies of 2003 is guilty of "research to see how the brain responds to advertising campaigns". So what?

[db]

In Reply to Parent Post by Mike S.

I thought politics was off-limits in the Cove these days. I guess I was wrong.

No politics here, Mike

"The radio behemoth Clear Channel specializes in consuming or squashing locally owned radio stations, imposing a homogenized music play list on once interesting stations, and offering cultural support for U.S. imperial adventures. "

"Now the owner of the company which initially drafted plans for privatization of U.S. military functions – plans drafted during the Bush I administration when current Vice President and former Halliburton CEO Dick Cheney was Secretary of Defense – Halliburton is pulling in billions in revenues for contract work – providing logistical support ranging from oil to food – in Iraq. Tens of millions, at least, appear to be overcharges. Some analysts say the charges for oil provision amount to "highway robbery."

"The company itself managed to escape with something less than a slap on the wrist – no prosecution in exchange for "oversight."

Nah, no politics what so ever!