We’d like to think that only huge corporations — titans of telecom, colossi of crude, barons of beef — run by guys who look like Rich Uncle Pennybags are involved in sketchy backroom collusion. But even players in “I didn’t know they even existed” markets try to get overly clever and rig the system to their advantage. [More]
The plot continues to thicken in the story surrounding this week’s sudden departure of Best Buy CEO Brian “I Like My Burgers Well” Dunn. As some had suspected when he stepped down on Tuesday under the cloud of a “personal conduct” probe, new reports claim that the 28-year Best Buy vet was being investigated for possibly misusing company assets while involved in a relationship with a female employee of the electronics retail chain. [More]
On Friday the woman who narrated the Domino’s booger video that made national headlines plead guilty and received sentencing. [More]
In a dark cranny of the mortgage-servicing world a “force-placed insurance” scandal is brewing. When a homeowner’s insurance lapses, the servicer steps in and buys them a new one, at a price several factors higher than their original. And the company they buy it from is essentially themselves with a different name. Now investors are finding out about the incestuous self-dealing and kickbacks and they’re pissed. [More]
Bermuda is not only a land of beautiful beaches — as well as a cornerstone of a famed mysterious triangle known for making things disappear — it’s where Google goes to protect billions in profits from the sticky fingers of Uncle Sam. [More]
After five years as CEO of the world’s largest maker of personal computers and printers, Hewlett-Packard CEO Mark “That’s What I” Hurd stepped down from his post on Friday after the company discovered he’d been intimately involved with a former contractor… and falsified documents to cover it up. [More]
Samsung Sues Journalist For Satirically Pointing Out That Its Chairman Keeps Getting Convicted Of Crimes
Did you know that the chairman of Samsung, Lee Kun-hee, was convicted in 2008 for tax evasion in South Korea? Or that he was convicted in the 90s for bribing politicians? A British journalist, Michael Breen, wrote a satirical column in a South Korean newspaper last December, and now the electronics giant is suing him for libel. If found guilty, Breen could face jail time. [More]
Do you work in a corrupt industry? The Daily Beast took a look at data gathered by Transparency International, a “global anti-corruption think tank,” and put together a list of America’s most corrupt professions. Everyone may be hating on Wall Street right now, but the worst offenders according to the criteria used are utilities. In second and third place were Wall Street and telecommunications, and media came in fifth, well before banking, insurance, or retail. [More]
When agents raided Gibson Guitar’s manufacturing facility earlier this week, some articles pointed out that the company’s CEO Henry Juszkiewicz was on the board of the Rainforest Alliance, a group that certifies businesses to sell their goods under an environmentally sustainable label. Now the group has postponed its annual certification of Gibson Guitars, and Juszkiewicz is temporarily stepping down from the board.
Remember that Domino’s Pizza, the one in North Carolina where Kristy and Michael recorded themselves doing gross things to the food? The Charlotte Observer has reported that the location has gone out of business, at least for now—”closed signs have been placed in the windows and the phone has been disconnected.”
Arrest Warrants Issued For Domino's Outlaws Kristy And Michael, While Domino's Prez Apologizes Online
The saga of Kristy and Michael, the two (former) Domino’s employees whose on-the-job shenanigans made it to YouTube earlier this week, continues. Now there are warrants out for their arrests, and Domino’s says it plans to sue them. Seriously, if you work in the food industry and are nursing some grudges, just… try to hold them in until you can find a job better suited to you.
Supposedly, Kellogg’s “brand reputation” is in the gutter after canning Phelps over the pot photo, slipping from #9 to #83 in a list of 5,600 companies. We’d believe it more if this “reputation index” chart from Vanno, a brand index company, didn’t look like someone was given PowerPoint and 3 minutes and told to produce some convincing evidence for a press release.
THE QUOTE: In an interview, MMS Director Randall Luthi said the agency took the report “extremely seriously”
Yesterday the FAA sought $10.2 million in civil damages from Southwest Airlines for neglecting to inspect the fuselages of 46 of its planes.
You know telecoms are behaving badly when a business columnist who just a year ago argued for a hands-off government approach has reversed his opinion. “I’ve changed my mind,” he writes. “The behavior of the top telecommunications companies, especially Verizon Communications and AT&T, has convinced me that more government involvement is needed to keep communications free of corporate interference.”