IN RETROSPECT, it may not have been a good idea for Decca Records to turn down The Beatles, for Western Union to dismiss the telephone as a toy, for the Schlitz Brewing Co. to mess with its formula, and for something called the W.T. Grant Co. to use such negative incentives for a credit-promotion scheme that managers gave credit to anyone with a pulse.
These and other incredibly stupid decisions are recounted in Neatorama's compilation of The Stupidest Business Decisions in History, which makes for some fun reading. Amazingly, there are no entries related to the whole subprime lending mess ("Lending standards? Hah!") but I suppose that isn't technically history yet, but rather current affairs. On the other hand, I suppose this compendium can make the rest of us feel better -- no matter how bad things may be, at least we didn't screw things up like these guys did.Posted by Benjamin Kepple at April 19, 2008 08:52 PM | TrackBack