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Worst Company In America: AIG VS Walmart

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We're on to the Elite 8 and things are really heating up! There are so many macroeconomic implications in this match-up!

It's #1 AIG VS #9 Walmart:

This is a post in our Worst Company In America 2009 series. The companies nominated for this honor were chosen by you, the readers, and seeded according to number of nominations. Keep track of all the goings on at consumerist.com/tag/worst-company-in-america. Download the bracket here.

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farcedude
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Hmm, surprise surprise, AIG is in the lead.

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No brainer. Walmart hasn't screwed the entire country yet, just smaller pockets of it.

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With 46 votes and 1 comment I think this one is in the bag.

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Wow, I hope Wal-Mart takes this one. They just canceled my Wal-Mart credit card because I had lost it, and someone did some bogus transactions on it. They refuse to re-open a new account. They have just completely closed it. Granted $600 credit limit wasn't a lot, but it was still mine. Oh Well, Back to Target and their $3000.00

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As much as I hate walmart and it's practices (well documented in previous votes) AIG's shortsightedness and greed held a huge part of the current recession we are in today.

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I'm going with WalMart on this one. Certainly AIG has been terribly destructive but at least we will recover. There are far too many small towns that WalMart has gone into and permanently devastated to let me not vote for them.

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@WarOtter: Actually Walmart so far has only screwed over China really bad...


Everyone in the US needs to start saving for the day the Chinese come calling on the UN to make the US help pay for the unfettered and unregulated business/manufacturing caused environmental disasters...


"But US citizens purchased most of the products so they should be made to pay..." will be the arguements.


By then Walmart will be sourcing its products from somewhere else like the Sudan or Somalia...

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@DjDynasty: Well I was going to go with AIG for ruining the economy for years to come, but not giving you another credit card after you lost one and they had to eat fraudulent transactions? That's pretty compelling too...

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AIG @nwaasob: One would hope that Wal*Mart would close one day. Then small communities could recover too. But those dirty bastards would like to have one last hurrah for the small towners... Offer them investment & insurance services from AIG.

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@DjDynasty: Just buy a couple of sewing machines and return the boxes with bricks inside...


True story that happened to my ex's cousin- the most lily white, doesn't crosswalk or cut the matress tag off type of woman. She though she would be arrested trying to return the scammed box and she couldn't understand how someone could make money off selling a new sewing machine not in its box. I had to explain fencing, flea markets, and drug addicts to her... (this was before ebay then craigslist became the fencing valhala.)

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@econobiker: I would say no, you wanted the business and you did the work without foresight to plan for your country.

Since you have nuclear capabilities, you can start over for all I care.

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I gotta vote Wal-Mart on this one. AIG financially screwed the entire country (with help from others) but Wal-Mart hits us at home... where it really hurts.

I've known people who've gotten completely wrecked by Wal-Mart.

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Who would have EVER thought that Walmart would be losing THIS heavily in a "Worst Company" matchup. Someone just jacked the bar up really high. (Or low, for that matter.)

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And I thought I'd never catch myself voting against Wal-Mart on these things...

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@DjDynasty: Have you lost any money on securities, 401Ks, IRAs? Real estate? Know anyone that's lost a job or hours that you're responsible for? How much?
I mean, even in terms of "if it doesn't directly impact me, it doesn't exist", that's pretty short-sighted.

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Wow. Tough bracket. This is like a #1 vs #2 seed in the 2nd round!

As much as it pains me, I must vote against wal-mart in this circumstance.

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In two years, nobody is going to remember what AIG was.

This shouldn't be a yearly dispopularity contest determined by which company is in the news when the seed happens.

Wal-Mart has decades of abusive, documented material and deserves to be labeled the worst company in America.

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@econobiker: Oh noes! It's the UN Peacekeeper Forces, pay them their monies! They might talk us to death or send sternly worded letters.

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@Trai_Dep: No, no and no. I haven't lost anything and I still know that AIG is the worse company here... no matter how much I loathe Walmart.

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I voted AIG. Walmart will be here for next year's competetion. And the year after that. And the year after that.

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@DjDynasty: Wal mart credit cards are actually issued by GE financial services. If your account was closed, it was closed by GE.

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@robotrevolution: This is a year by year competition. If no one remembers AIG in two years, then in two years they won't make it into the bracket.

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@Trai_Dep: Seriously! It pains me to vote against Walmart, but DAMN, I have AIG to win the whole thing.

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@Crabby Cakes: Yeah I think that's pretty much a lock.

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@WarOtter: i think it's more "AIG has screwed the country harder"

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@winshape: Considering about 95% of the UN Peacekeeper Forces have an American flag patch on their shoulder, I don't think we have too much to worry about ;)

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Christopher Michael Dousharm

I'm pretty sure we all knew who was going to take the whole tourney before brackets were even announced.

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@Trai_Dep: Yup, all AIG's fault, no one else's. This is like the Salem Witch Trials.

/except a few of them really are witches.

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@snowburnt: AIG is the scapegoat du jour, and has no more responsibility for this mess than a dozen other companies.

But the TV tells us to hate AIG, our government proposes borderline unconstitutional taxes targeted at their employees, and the mob says they're bad, so they will march to the winner's/loser's circle of Consumerist's Worst Company in America contest.

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Sorry Wally, this year it's just not you.

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I voted for wally fully expecting AIG to get this one. AIG was just the front company, the federal reserve did all the backroom deals. Oh well, it seems wally my only lose to the champion though :p

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Man, in previous years, Walmart would've won in a landslide. But I can choose not to be a Walmart customer. AIG screwed us ALL over, whether we were their customers or not (and I wasn't).

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@robotrevolution:


If The Consumerist runs a 'Worst Company In America - last 30 years' bracket, I'll gladly vote for Wal-Mart to win it all. Until then - and specifically for 2008/2009 - I'll vote AIG over anyone.

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Anyone voting AIG over Walmart really has no clue of reality, read PAST the headlines people.

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@BacteriaEP: I had to go with Wally World, too. AIG is pretty bad but Wally World has pulled lots of crap over the years that gets them my vote, not to mention their horrendous effect on small-town businesses.

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@Yoko Broke Up The Beatles: Or they can do a 'worst of the decade' - 2010 isn't that far off. I wonder who I would pick for 2000 to now? And if another year or so might bring in some new contenders. Hmmm.

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Wal*Mart seems to have gotten a free pass out of the finals with this matchup

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@DjDynasty: walmart doesn't handle the cards, they just slap their name on it.

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I give up...
It is hopeless to try and enlighten the general public to the differences of investment risks and ethic employment practices.


AIG should have lost it's first matchup - this company has done very little wrong other than catch the full brunt of media hype and the "not with my money" public rage.

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@nwaasob: I voted for WalMart too for the same reason. Their treatment of workers and foreigners has ruined a few more lives than AIG, I'd wager... at least in terms of daily life kinda stuff.

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@Coach Cal Is My Dream Weaver:

C'mon -- Name names! Don't leave us hanging.

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@SybilDisobedience: True... but remember who gave AIG billions of dollars to waste!

How about a "Walmart vs US Government" bracket?

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I can't believe I didn't vote for Walmart... wow.

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@oneandone:


Wal-Mart could definitely put up a fight in the 'worst of the decade' battle, although I think Circuit City might have something to say about it...

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@freelunch: Very little wrong? Are you high?


Let's be clear about AIG's wrongdoing: They collected billions in fees for selling trillions, yes trillions, of dollars worth of credit default swaps they had little ability to make good on. That's why government bailout money is leaking through AIG like a sieve. They are a bottomless pit of liability. AIG isn't keeping that money; it's going right back out the door to pay counterparty claims. Think of AIG as a casino that gladly took your wagers but couldn't pay if you hit the jackpot.

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AIG got my vote for their scammistic synthetic coal tax credit scheme alone (which was created by the nimrod who would eventually tank the company due to credit defaults swaps etc.) Entirely legal but very immoral. AIG bought unused "synthetic coal" processing facilities and then leased them out only to harvest tax credits to reduce their tax obligations.


And "synthetic" coal is usually pretty scammy to start with in the order of spraying fuel oil over regular coal to "convert" it to "synthetic" coal...

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@Coach Cal Is My Dream Weaver: Never said it was. But Moody's, Citi, Ameri-whatchyamacallit, etc., aren't in this round. :)

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@Coach Cal Is My Dream Weaver: 2nd time: It's AIG vs Wal-Mart, so I'm unsure where your logical leap that anyone's saying that AIG is solely responsible.