Alot of year end reviews are boring or lame. Not the 101 Dumbest Moments in Business from FORTUNE. It’s sad but true and also VERY funny. One of my favourites is #70: Circuit City (70). Here’s the details:
In a cost-cutting move, Circuit City lays off all sales associates paid 51 cents or more per hour above an “established pay range” – essentially firing 3,400 of its top performers in one fell swoop. Over the next eight months Circuit City’s share price drops by almost 70%.