Facebook, RIM, HP Among Most Disliked Companies: 24/7 Wall St.
The retailer's nosedive really began in November 2011, when Ron Johnson, the one-time retail chief for Apple, became CEO and quickly changed the company's pricing policy. According to 24/7 Wall St., sales in the first full quarter after the pricing change fell 20 percent and continued dropping, customers fled the store, the stock price fell 40 percent and J.C. Penney angered investors by eliminating its dividend. Johnson remains as CEO.
Businesses have a lot of people they need to keep happy: investors, employees, partners and suppliers, just to name a few. Some companies can satisfy all of those people, some just a few of them. And then there are companies that—through bad management, poor decision-making or various and sundry reasons—can anger all of their myriad constituents. According to the news site 24/7 Wall St., these are the companies that enrage customers with poor customer service, alienate employees with bad management or ruin investors with poor business decisions that cause the stock price to crater. The people at 24/7 Wall St. took each of these points of view when developing their list of the 10 most disliked companies, a list that was released earlier this month and includes its fair share of tech companies, from Nokia to Facebook to Hewlett-Packard. “Many of the most hated companies have millions of customers and tens of thousands of workers," the 24/7 Wall St. writers noted in the article. “With this kind of reach, keeping employees happy is crucial to more than just good office morale. Poor job satisfaction regularly results in low customer satisfaction." They measured everything from stock price to customer and employee satisfaction to assemble the following list of the most hated companies in 2012.