August 11, 2009
Some people just can’t make an honest living. And, sometimes, businesses fail to outdo this axiom as well. In other cases, there are grand mistakes which result in lots of frustration, money lost by customers, brands or both. Usually these situations are worsened by bureaucracy, poor management, and an unwillingness by many companies to admit fault. With the advent of the internet, it has become easier for ill-treated customers to bring attention to their situation, and customers as a whole are now regularly made aware of the scams that befall others on a daily basis. The following are some of the most memorable experiences of the last several years.
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August 4, 2009
The most anticipated day in the life of a company is its “liquidation event”, when the founders and/or investors cash out. Typically, a liquidation event takes the form of a buyout or what is known as an initial public offering (IPO.) This is when a company offers stock to the public for the first time. A successful IPO - like Google’s - generates millions or even billions of dollars which the company uses to further expand. Unfortunately, simply conducting an IPO does not guarantee success. Scores of companies have gone public despite a lack of profitability, having unsustainable business models, or by while being led by inept management. Others poured months or years of planning into their IPO only to forced to scrap it at the eleventh hour. Following are fifteen of the biggest such flops in recent history.
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