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Top 10 Best and Worst Reputations In Corporate America
consumerist.com — The results of the Harris Interactive survey that tracks the reputations of the 60 most visible companies in America has been released and here they are...
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- PlayingGangsta, on 06/23/2008, -3/+9Of the companies named, 2 of the 5 biggest drops in reputation made Consumerist's "Worst Company in America" Elite 8 (Wal-Mart, BofA). 2 of the worst 10 reputations made the Elite 8 (Exxon, Comcast).
- ferkranus, on 06/24/2008, -2/+1I can't take this seriously b/c SouthWest Airlines didn't make the best list. Not possible.
http://www.nytimes.com/2008/05/24/business/24nocer ...
- ferkranus, on 06/24/2008, -2/+1I can't take this seriously b/c SouthWest Airlines didn't make the best list. Not possible.
- HeatherH88, on 06/23/2008, -2/+31I have to laugh a little seeing Sprint on the 10 worst. They easily have the ***** customer service on the face of the planet...
- Cuchanu, on 06/23/2008, -0/+9In the universe.
- Nappuccino, on 06/24/2008, -0/+3and in all parallel universes.
That's right, all seven of them.
- Nappuccino, on 06/24/2008, -0/+3and in all parallel universes.
- brentinkc, on 06/24/2008, -0/+9Back in the day, those assholes charged the customer to make a call to customer service when their service ***** up. Cost me $12 in one night. ***** them.
- Cuchanu, on 06/23/2008, -0/+9In the universe.
- Matrixsta, on 06/23/2008, -17/+2I'd add Enron to the Worst list
- stevedynamo, on 06/23/2008, -0/+7Why? This is about existing companies... not news from 7 years ago. The only thing that remains of Enron is a shell corporation whose sole purpose is to sell off its few remaining assets.
- Cuchanu, on 06/24/2008, -0/+11But I HATE their assets
- Alegoo92, on 06/24/2008, -0/+2Did you just notice the Enron-loophole article and mention it on this article to get dugg up: while it was unbenounced to you that Enron as a company hasn't existed for almost a decade?
- stevedynamo, on 06/23/2008, -0/+7Why? This is about existing companies... not news from 7 years ago. The only thing that remains of Enron is a shell corporation whose sole purpose is to sell off its few remaining assets.
- inputname, on 06/23/2008, -13/+40Microsoft at number 10 best, really?
- AlaskaLoneWolf, on 06/24/2008, -16/+6Yeah, and I'll bet they paid handsomely for that slot too...
- ruddy, on 06/24/2008, -4/+4yeah, they payed some ***** blogger to put their name on the list...
- Kral, on 06/24/2008, -3/+40You'll find a lot of people that think Microsoft essentially invented computing and the internet.
- dwninjungleland, on 06/24/2008, -13/+3I don't care what OS you're using right now... if it weren't for Microsoft, you wouldn't be using a computer today, nor would the internet exist in any form that you would recognize.
- mithrasinvictus, on 06/24/2008, -1/+5That's sarcasm, right?
- NNOP, on 06/24/2008, -2/+5Umm.. huh? I was using a PC as a kid before Microsoft turned up.. remember C64s etc etc? If Microsoft didn't exist there would be some other 'standard' OS for desktop computing made by some other company.. quite likely a better product too (although possibly worse). When you say 'the internet wouldn't exist in any form you would recognize' .. hmm .. well it might not have a douchebag of a company like Microsoft running around stimeying everything with their non-standard compliant browsers and patent bashing, but apart from that.. credit should go to ARPA, Cern, Mozilla, Apache etc.. not Microsoft.
- NNOP, on 06/24/2008, -1/+7.. did I just get Trolled?..
- Oracle95, on 06/24/2008, -4/+2They might not have "invented" the world of computing, but prior to Windows, computers were not very user friendly and the tech support makes even the worst support today seem saintly.
If you want to become a billionaire, take something that only an elite few can master and simplify it for the minions.
- dwninjungleland, on 06/24/2008, -13/+3I don't care what OS you're using right now... if it weren't for Microsoft, you wouldn't be using a computer today, nor would the internet exist in any form that you would recognize.
- rawrzzz, on 06/24/2008, -2/+19I think it's because they finance a bunch of third party developers / programs.
But on another note, this is a very bad top 10 list. Doesn't list any facts.- str1fe, on 06/24/2008, -0/+5It's not based on facts in the first place. The article implies that it's based on a survey.
"The results of the Harris Interactive survey..."
- str1fe, on 06/24/2008, -0/+5It's not based on facts in the first place. The article implies that it's based on a survey.
- PullingTeeth, on 06/24/2008, -1/+2Really.
- fpaudon, on 06/24/2008, -19/+14i hate microsoft; i'm so cool. hurr durr
- sathias, on 06/24/2008, -4/+11Well look at it this way... how many of those companies have people at or near the top that give as much to various charities around the world as Bill and Melinda Gates do?
- krahzee, on 06/24/2008, -1/+6Right.
Like it or not, Bill Gates IS Microsoft to a large portion of consumers. He does a ***** thing and MS's rep suffers. If he gives billions to charity they are bound to get some of that good will by association. - Origin415, on 06/24/2008, -1/+1Most of that money is from Warren Buffet...but his company (Hathaway) is ranked higher, so I guess it works out anyway.
- krahzee, on 06/24/2008, -1/+6Right.
- stupidStan, on 06/24/2008, -6/+34Despite the un-coolness of liking Microsoft in the Digg masses, Microsoft is a very impressive company that releases a lot of good products for everyone from accountants to programmers.
Everyone should at least once in a while put away their Apple tinted, MS-hating, ignorance sunglasses and realize that.
And yes, I am prepared for the Digg-down.
(I just think people are sore that their beloved Apple isn't on the list).- Alegoo92, on 06/24/2008, -3/+1People do realize that. I like Microsoft a little though I wouldn't use their products. I mostly admire their contributions and legacy in the industry and admire Bill Gates profoundly.
- SpeedSteamBoat, on 06/24/2008, -6/+8But what about Vista? UAC? The Windows API? The reams of legacy code they insist on forcing millions of innocent programmers to work around? What about Silverlight? What about their relentless efforts to stifle competition and true innovation? What about Windows Defender? "Windows Genuine Advantage"? Their long record of making IE not only the least secure, but the least standards compliant browser while it is still the most popular (much to the the ire of web developers everywhere, and in all fairness IE8 shows some promise)? What about the lack of a truly comprehensive permissions and security structure in Windows that they have clearly indicated they will be making no attempts to fix anytime soon? What about their insistence on forcing purchasers of legal copies of their software "Activate" their product while pirates explicitly and unanimously mustn't? What about their fostering and even forceful promotion of the wretched technology that is DRM? What about their refusal to embrace open standards to the detriment of computer users everywhere? You only ever have to defrag a Windows machine, and it's also the only modern OS without a comprehensive, clean software installation/removal manager.
The list truly goes on and on. It is undeniable that Bill and Melinda have done great things with the wealth acquired via the success of Microsoft, but Microsoft viewed strictly as a corporation is a hardly a saint. I don't subscribe to the "M$ IS EVIL" mentality, but I certainly wouldn't put them on the top 10 list of best companies. Of course I understand that is just one mans opinion, but I feel it to be very well founded.
Then again, I can't complain too much since all the crap the screw up over and over keeps me employed. :-/- combatchuck, on 06/24/2008, -1/+3I *like* Vista and UAC. I can't speak for the API because I'm not a programmer. The legacy code is there to keep the big developers from throwing a *****-fit. I don't know what Silverlight is. Microsoft is guilty of way less stifling of innovation and competition than people give them credit for. Let's put it this way: Microsoft at least BUYS the company whose software they're putting into their system. Apple just blatantly duplicates it.
No, Microsoft isn't completely innocent, just like George Bush isn't completely evil, and Linux isn't perfect. The good they do outweighs the bad by quite a bit.
- combatchuck, on 06/24/2008, -1/+3I *like* Vista and UAC. I can't speak for the API because I'm not a programmer. The legacy code is there to keep the big developers from throwing a *****-fit. I don't know what Silverlight is. Microsoft is guilty of way less stifling of innovation and competition than people give them credit for. Let's put it this way: Microsoft at least BUYS the company whose software they're putting into their system. Apple just blatantly duplicates it.
- Vodd9, on 06/24/2008, -0/+4Embrace, extend and extinguish.
- ahoy, on 06/24/2008, -3/+4***** yeah, bill gates is a philanthropist, you cant say that for steve jobs.
- VinnieDaMac, on 06/24/2008, -5/+2Only ubernerds think it's cool to bash Microsoft.
- melanie1000000, on 06/26/2008, -0/+0I do not think so, I think microsoft is hard. ADD me I peoplewant to talk with like people
- AlaskaLoneWolf, on 06/24/2008, -16/+6Yeah, and I'll bet they paid handsomely for that slot too...
- Cuchanu, on 06/24/2008, -5/+52Kraft is owned by Philip Morris (tobacco) so I don't like to go there even if people have fond memories of cheese.
Coca-cola is a real ***** company. Obama's buddy Deval Patrick left the company because of their ethics. They have been literally killing and intimidating workers in Colombia and other latin american countries who want fair treatment. This has been going on forever and is not very well known, but the only people that will dispute it are coke people and those who don't know.
The worst reputations list I'd generally agree with. Although there are plenty of other companies that deserve to be there. How about Blackwater? And let's call it like it is and we'll call China a company instead of country from now on. It'd be on the list for sure.- mormo92, on 06/24/2008, -8/+6Kraft is not owned by Philip Morris, it is a publicly trade company, look up NYSE:KFT on Google Finance.
- trumpydumpy, on 06/24/2008, -0/+13The Philip Morris Company (now known as Altria Group), acquired Kraft for $12.9 billion in 1988, eventually merging it with another food subsidiary, General Foods, which it had acquired in 1985. In 2000, Philip Morris acquired Nabisco and merged it with Kraft. Altria sold 280 million Kraft shares via an initial public offering in 2001, retaining an 88.1% stake. On January 31, 2007, after months of speculation, the company announced that its 88.1% stake would be spun off to Altria shareholders at the end of March 2007. Kraft is now an independent publicly held company.
http://en.wikipedia.org/wiki/Kraft_Foods- krahzee, on 06/24/2008, -0/+4Right, all of this done due to the financial and image problems being assocaited with a tobacco company poses for Kraft.
- trumpydumpy, on 06/24/2008, -0/+13The Philip Morris Company (now known as Altria Group), acquired Kraft for $12.9 billion in 1988, eventually merging it with another food subsidiary, General Foods, which it had acquired in 1985. In 2000, Philip Morris acquired Nabisco and merged it with Kraft. Altria sold 280 million Kraft shares via an initial public offering in 2001, retaining an 88.1% stake. On January 31, 2007, after months of speculation, the company announced that its 88.1% stake would be spun off to Altria shareholders at the end of March 2007. Kraft is now an independent publicly held company.
- Louis11, on 06/24/2008, -1/+10Can you source us with all the 'killing workers in Colombia' talk? If it's true i'm not drinking coke any more . . .
- Janizzary, on 06/24/2008, -0/+5http://killercoke.org/
- SuperMoses, on 06/24/2008, -0/+5I thought this was common knowledge.
http://www.business-humanrights.org/Categories/Law ... - Louis11, on 06/24/2008, -1/+2"The United Steelworkers Union and the International Labor Rights Fund sued the Coca-Cola Company and two of its Latin American bottlers – Bebidas y Alimentos and Panamerican Beverages, Inc. (Panamco) – in July 2001 in US federal court. . . In 2003, the court dismissed the case against Coca-Cola, but it allowed the case to proceed against the two bottlers. The following year the plaintiffs filed an amended complaint seeking to include Coca-Cola in the lawsuit due to its part ownership of Panamco through a 2003 acquisition. In September of 2006, the court dismissed the claims against the two Coca-Cola bottlers and rejected the plaintiffs’ attempt to bring Coca-Cola back into the lawsuit."
So, they acquired a company that happened to be mixed up in all of this? Does anyone have any articles from well known reputable resources? I read up on killercoke.org and saw a ton of useless articles that didn't really cite anything . . .- Cuchanu, on 06/24/2008, -0/+1They got off because of technicalities...
Coke is smart enough not to send employees with coke t-shirts down there to start intimidating people. But their acquired companies did it on their behalf.
- Cuchanu, on 06/24/2008, -0/+1They got off because of technicalities...
- ryanatkin, on 06/24/2008, -0/+4philip morris changed their name to altria and spun off kraft a year or so back and they are a publicly traded company.
- bwa236, on 06/24/2008, -1/+2it's all a CONSPIRACY!!
- Cuchanu, on 06/24/2008, -0/+1Sure if you want to call it that. If you think that corporate America would never do anything illegal to protect their profits then you are being pretty naive.
- VinnieDaMac, on 06/24/2008, -0/+1This was a survey on each companies' reputation among the general population. I don't think people know or really care this much about each company.
- justastatistic, on 06/24/2008, -0/+2Warren Buffett has bought stake in Kraft recently.
"In February 2008, Berkshire Hathaway Inc. run by Billionaire investor Warren E. Buffett announced that it had acquired an 8% stake in Kraft worth over $4 billion. Buffett's business partner Charles Munger had also invested over $300 million in Kraft." - Arramol, on 06/24/2008, -1/+1I agree with the worst list for the most part, but the copyright lawsuit mafia really deserves to be on there. #1's spot on though...
- mormo92, on 06/24/2008, -8/+6Kraft is not owned by Philip Morris, it is a publicly trade company, look up NYSE:KFT on Google Finance.
- Croecop, on 06/24/2008, -13/+3People at work keep telling me my mom's a whore, does that count?
- Beastmasta, on 06/24/2008, -0/+2What?
- winmywii, on 06/24/2008, -0/+2Only if it is corporate policy.
- nardokid, on 06/24/2008, -13/+1oops
- batmanz, on 06/24/2008, -8/+12Alternate title: Companies that paid us lots of money to be on our list.
- BrokenCircle, on 06/24/2008, -1/+3Yes because 10 of the largest corporations in the world really care about what a website that is built on the principal of bashing Best Buy has to say.
- ginestony, on 06/24/2008, -16/+19What is that dirty dirty company Microsoft doing in the top 10 best?
- mithrasinvictus, on 06/24/2008, -3/+3Probably bought the vote, just like with ISO.
- Vonauda, on 06/24/2008, -0/+1This list is just a survey of the perception of the companies to common people. Since most people use Windows and don't use much more than IE, Y! Messenger, AIM, they don't experience the problems that more experienced users get so in their eyes, there's nothing wrong with Microsoft.
On another note, I wonder why the media is talking up how the company will be different with ballmer at the helm and gates gone. Nothing will be different. Ballmer has always been in charge and Gates is still the top decision man (chairman) so the company is just changing a few million per month from the payroll to the retirement fund.
- Gullop, on 06/24/2008, -19/+2who the ***** is "Halliburton" ?
- mormo92, on 06/24/2008, -0/+4If you look to your right, you will see a lame attempt at humor...
- freedom998, on 06/24/2008, -9/+0http://www.youtube.com/watch?v=IWgSNCETA7E
- bassman12593, on 06/24/2008, -0/+1Why?
- proficient, on 06/24/2008, -1/+31I wish they'd elaborate on exactly how they conducted this poll.
- ufia, on 06/24/2008, -1/+12It was an impartial and a very elaborated scientifically accurate process.
First they selected and copied the company name.
Then they pasted it.
Finally they pressed publish. - peacefullwolf, on 06/24/2008, -0/+1I don't know how Harris Interactive does all their polls, but I know that they use their online polls "harris poll" in which they occasionally sends you questionnaires to answer in exchange for points which you can then redeem for prizes. http://www.harrispollonline.com/
- staeiou, on 06/24/2008, -0/+3"The RQ surveys thousands of American consumers in a two-step process, through online and telephone interviews, to first identify the 60 most visible companies and then to rank these companies based on their reputation in six different categories: Emotional Appeal, Products & Services, Social Responsibility, Vision & Leadership, Workplace Environment, and Financial Performance. " Click the link to the people who actually did the survey at the bottom to see more.
- ufia, on 06/24/2008, -1/+12It was an impartial and a very elaborated scientifically accurate process.
- Future2, on 06/24/2008, -0/+10I have been on hold with Comcast for the past hour - no exaggeration. I know this is probably the worst time to call but Jesus H. Christ.
- chrissku, on 06/24/2008, -8/+15Look.....some guy named MrBabyMan made the front page. Nobody by that name ever continuously makes the front page everyday.
- Berkana, on 06/24/2008, -6/+22Where is Monsanto? Monsanto should be down there with the 10 worst.
I'm also surprised Apple is not in the top 10.- SOS84, on 06/24/2008, -10/+4Why would Apple be a top ten company? Bottom ten I can see. For goodness sake, their legal budget is four times as large as their product development budget and who knows much larger their marketing budget is? Apple is well known in the tech industry for simply stealing ideas, repackaging them and slapping some silly marketing gimmick on them that matches the over-priced MSRP they affix.
- Alegoo92, on 06/24/2008, -0/+2No... they're not.
And ideas don't have to be brand new, they have to be practical and useful.
- Alegoo92, on 06/24/2008, -0/+2No... they're not.
- benologist, on 06/24/2008, -0/+6What does Apple do to warrant being on that list?
- SpeedSteamBoat, on 06/24/2008, -6/+4What does Microsoft do to warrant being on that list?
- benologist, on 06/24/2008, -2/+4Microsoft the company and employees have a *very* long and rich history of philanthropy... you may dislike them for ruthless business practices, but they've poured billions into helping make the world a better place and to most people that's a heavier factor in deciding whether they like something.
http://www.microsoft.com/presspass/press/2006/sep0 ...
And that's not even counting the Gates' foundation.
- benologist, on 06/24/2008, -2/+4Microsoft the company and employees have a *very* long and rich history of philanthropy... you may dislike them for ruthless business practices, but they've poured billions into helping make the world a better place and to most people that's a heavier factor in deciding whether they like something.
- SpeedSteamBoat, on 06/24/2008, -6/+4What does Microsoft do to warrant being on that list?
- SOS84, on 06/24/2008, -10/+4Why would Apple be a top ten company? Bottom ten I can see. For goodness sake, their legal budget is four times as large as their product development budget and who knows much larger their marketing budget is? Apple is well known in the tech industry for simply stealing ideas, repackaging them and slapping some silly marketing gimmick on them that matches the over-priced MSRP they affix.
- ruddy, on 06/24/2008, -7/+7as a windows fanboy (generally), i'm surprised apple wasn't on the list. They have a great reputation because of their intense marketing, IMO
- Rusticles, on 06/24/2008, -6/+9Microsoft bought out all competitors for their top 10 spot...
- regression, on 06/24/2008, -4/+15No walmart? They treat their employees like *****.
- danomagnum, on 06/24/2008, -2/+6They can check counters for peanuts in air-conditioning and be treated like crap, or they can get a skill and work for a living.
- Enigmocracy, on 06/24/2008, -0/+3But they certainly have cheap sweaters.
America loves their sweaters. - DeFex, on 06/24/2008, -0/+7not to mention destroying small towns and leaving, sending jobs to china in exchange for instant landfill. and causing all products across the spectrum to become more and more crappy every year.
- gryphon50, on 06/24/2008, -0/+2they have been known to delete employee's hours if they go over a certain number of hours per week (which makes you ask the question, why were the employees allowed to work those hours in the first place) and they have also been known to force the employees to work off the clock to save the company money. It's just theft, really.
- BOFH2, on 06/24/2008, -6/+2Why not Target in the worst?
Welcome back to high school, if we like you you could be a complete dolt when it come to your job but we will fast track you!- solid12345, on 06/24/2008, -1/+3I worked at Target and loved it.
- BOFH2, on 06/24/2008, -3/+2I am honestly glad for you.
- solid12345, on 06/24/2008, -1/+3I worked at Target and loved it.
- Farmer77, on 06/24/2008, -4/+5No Apple, and yet it made it to the front page. Shows you the power of Mr. BabyMan.
- obama4prez, on 06/24/2008, -2/+13who is this MrBabyMan character
- TheFinaleofSeem, on 06/24/2008, -6/+13How in the blazing hell did Microsoft make the top 10??
- stirlo, on 06/24/2008, -0/+5their marketing is so excellent, even with all the fiascos of the past.. ahem.. say 20 years, (i don't need to name any of them) public opinion still seems to be towards them! or, people are just gullible idiots.
- str1fe, on 06/24/2008, -1/+4It's based on a survey of America. Take a good look at Americans who, when they see a Mac, the first thing they ask is "So where's the Start menu?"
- Alegoo92, on 06/24/2008, -2/+3As I've seen in my peers, people who aren't tech savvy think very highly of Windows PCs-- and always use the argument that their market prevalence is proof of their greatness. Surprisingly some get pretty peeved if you suggest it's a bad platform.
- tightscrummy, on 06/24/2008, -1/+1That sounds like an argument Ann Rynd would have made.
- twrife, on 06/24/2008, -0/+1Some of the best tech support I've ever had was from Microsoft. Granted, it was outsourced, but when my internet went down and I lost the online chat to fix the problem I was having, the tech support rep called my house to continue helping me.
- TheLoneHoot, on 06/24/2008, -4/+5Personally, I don't think much of the reputation of just about ANY corporation.
- Alegoo92, on 06/24/2008, -3/+1Way to be a rebel, but I think you might get sued by the 1970's.
- jbmcb, on 06/24/2008, -1/+3How the hell was this poll done? Harris *interactive* ? I make stuff up when they call my house at dinner.
- bowievls, on 06/24/2008, -1/+4I'm glad that someone asked who Haliburton is, if you don't know you ought to. Google for Cheny's affiliation and their closed bid involvments in Iraq. Kucinich is addressing the issue in his articles of impeachment that have been send to the Judiciary Commitee because the Dems are afraid of a media onslaught. Search for that too and if American call members of the judiciary commitee to let them know that you really are paying attention to what's going on.
- micklerlop, on 06/24/2008, -1/+17Where is RIAA and MPAA? Kraft and MSFT are in top 10 but Toyota is not. This list blows.
- anteriororifice, on 06/24/2008, -0/+3true... true...
maybe lockheed martin and blackwater should be thrown up there too - STPZ, on 06/24/2008, -1/+1.....Toyota is not American
although there products are far superior, corporate world; then you have a strong point
- anteriororifice, on 06/24/2008, -0/+3true... true...
- malanic, on 06/24/2008, -0/+6I wouldn't have thought that Johnson & Johnson would be at #2, since they just tried suing the American Red Cross for their licensing of the Red Cross symbol. Pretty nasty of them considering they stole the symbol off them in the first place, and then trademarked it.
- KaivenTor, on 06/24/2008, -0/+3Guess I'm not the only one who hates flying NorthWest.
- lansuggs, on 06/24/2008, -0/+24See the trend? Top: Food/Tech Bottom: Oil/Phones
If I want to have a business that is highly respected, I'll simply make computers out of food. Genius! We also know why gas powered phones never took off...- combatchuck, on 06/24/2008, -0/+1Or food out of computers. PCB Flakes, part of a complete breakfast!
- PullingTeeth, on 06/24/2008, -0/+9How did they miss AOL?
- mt4055, on 06/24/2008, -0/+9This was a ranking of the " reputations of the 60 most visible companies in America".
No one cares about AOL any more. - DeFex, on 06/24/2008, -1/+3daddy whats an AOL?
- mt4055, on 06/24/2008, -0/+9This was a ranking of the " reputations of the 60 most visible companies in America".
- sublimer, on 06/24/2008, -1/+1I agree with Northwest Airlines being down there. Last summer, I flew them for the first time. My first flight was canceled, then I got redirected to Minneapolis, where the delayed connection caused me to miss my other connection, not to mention all the rigmarole in the meantime.
Then, I ask them about it and they credited me with 24,967 miles. I need 25,000 to get a free flight! That really ticked me off!- smitty7789, on 06/24/2008, -1/+2What's your WorldPerks number, prove it to me. I'm working right now for them and I have never heard of them giving away 24,000 (6,877 dollars) for free.
- hittnrun, on 06/24/2008, -14/+6Halliburton the worst?? Why?
Because they provide our soldiers with their basic support in the field for very little profit and no gratitude?? They should just quit. Their oil field services business is making nice, tidy profits without the hassle of listening to this type of illogical whining by the diggbitches.
You fvcking diggkids don't have a clue.- yellowswan, on 06/24/2008, -2/+7Talk about klvelessness…
- masterofgrond, on 06/24/2008, -2/+4What exactly is fvcking? Is it anything like *****?
- Gunite, on 06/24/2008, -2/+2Digg should have a 'biggest moron' section. You'd be the winner for today.
- gryphon50, on 06/24/2008, -2/+3they provide our soldiers with dirty food, they provide Iraqis with subpar construction, they provide themselves with unjustified massive profits oftentimes without any documentation, they blow up trucks that need oil changes because they can simply order a new truck and have us pay for it, with an additional profit tacked on of course. Do you own Halliburton stock or something? It's hard to believe anyone could be this much of a corporate stooge without a vested interest.
- hittnrun, on 06/24/2008, -0/+1Educate yourselves, morons.
http://www.chron.com/disp/story.mpl/business/steff ...
Where's all the money? There are supposed to be great heaping gobs of money piling up in Halliburton's tower downtown.
Halliburton, often berated as a corporate buddy of the Bush administration, was awarded the famous no-bid contract to rebuild Iraq's oil fields and holds a broader government logistics agreement known as LOGCAP under which it feeds and supports U.S. troops in Iraq and Afghanistan.
Now that LOGCAP is winding down, Halliburton executives must be counting all the loot from such exclusive agreements, right?
According to critics, the whole arrangement was some sort of seedy backroom deal — hatched during the planning of the Iraq invasion — that was supposed to secure big money for Halliburton.
So where is it? It doesn't show up on Halliburton's income statement. The company's quarterly financial results, filed late last month, show its work in Iraq — including a separate, competitively bid contract for oil-field work — garnered just $74 million in profit on about $2.4 billion in revenue for the first half of the year. That's a margin of about 3 percent, and it's about the best Halliburton has seen from the Iraq contracts, which are administered through its KBR engineering and construction unit.
In fact, for all of last year, Halliburton's Iraq work generated a profit of $172 million, or just 6 percent of the company's operating income. And that was a banner performance. In the two previous years, profit on the Iraq work dipped as low as $78 million with a margin of a measly 1.1 percent. With the return Halliburton's gotten, it would have done more for its shareholders by investing in Treasury bills and generated far less controversy in the process.
In a prepared statement, spokeswoman Melissa Norcross said although the margins are lower than in Halliburton's energy services business, the military work requires less capital investment and involves less financial risk.
I'm no fan of secret government deals, especially not when they're doled out to a company that the vice president used to run. In this case, though, the joke may be on the contractor.
In fact, it was Dick Cheney, as defense secretary during the first Bush administration, who railed against cost overruns in government contracting — even canceling the development of the A-12 attack plane for falling behind in its budget and production schedule — and championed the kind of cost-plus agreements now responsible for Halliburton's paltry returns.
Having lost the LOGCAP contract during part of the 1990s, Halliburton floated a low-ball offer in 2001 to win it back. It agreed to a 1 percent return on top of its costs, with the potential for as much as 2 percent more based on performance.
'Sufficient' return?
Several years ago, I asked Chief Executive Dave Lesar about the profitability of the Iraq work. He told me that criticism that the company is a war profiteer making big bucks off the Iraq work was simply wrong and unfair.
"We don't make a lot of money at it," he said.
The return, he argued, was "sufficient" for Halliburton shareholders.
Sufficient, perhaps, if everything goes off without a hitch, which hasn't been the case. Halliburton's Iraq work has been dogged by claims of overbilling, with government audits uncovering some $1 billion in questionable charges. Halliburton has maintained its billing is proper, and the Army has defended its performance.
Given that Halliburton's earned about $400 million on its Iraq work during the past three and a half years, and factoring in legal expenses and other potential costs, its profit in Iraq is hardly the windfall critics portray.
Then there's the cost of bad publicity, the kind of attention that transformed a company known mostly in the Oil Patch into joke fodder for late-night talk shows and a target for protestors who doused themselves in fake blood at the annual meeting.
Distancing itself
Halliburton said earlier this year it will move forward with long-expected plans to separate itself from KBR. The move may unlock some more value for shareholders, and it will give Halliburton a buffer for the controversy of its Iraq work.
The Army said last month it will discontinue the current LOGCAP contract and will begin soliciting competitive bids for a new program. The new LOGCAP will be split among three contractors, with a fourth hired to monitor the performance of the other three. The structure is designed to eliminate the military's dependence on a single company. Halliburton is free to submit a bid, although it hasn't said if it will or if it will simply say good riddance.
- asus2000, on 06/30/2008, -2/+3Oops, where's MONSANTO? #1 worst company on the planet...(that and the private banks that make up the federal reserve.)
- Enigmocracy, on 06/24/2008, -1/+2The hell? There's nothing wrong with Monsanto unless you are some bible-thumping pro-lifer that thinks GMOs are the work of the devil.
- lisaawesome, on 06/24/2008, -1/+1Yeah man promoting sustainability is just CRAZY.
- PicklesNCheese, on 07/24/2008, -0/+2Please enlighten me if I am incorrect, but I thought that Monsanto actually WAS regarded as an overly aggressive company that uses fear tactics to fine farmers for GE seeds that end up in their fields. They've created 56 superfund sites and poisoned their own employees and the consumers of their products. http://en.wikipedia.org/wiki/Monsanto
- asus2000, on 06/30/2008, -0/+1That's them..
- Enigmocracy, on 06/24/2008, -1/+2The hell? There's nothing wrong with Monsanto unless you are some bible-thumping pro-lifer that thinks GMOs are the work of the devil.
- linksdeity, on 06/24/2008, -4/+2Microsoft makes best reputation but Nintendo does not...
well let's look at the two in the terms where they are actually competing.
That's an absolute fabrication, anyone who's dealt with both on more then one occasion can tell you Nintendo generally has fantastic customer service, and Microsoft has some of the worst, not to mention Nintendo systems are known for being reliable where as Microsoft's are some of the most unreliable.
It might not be as true as it used to be though, as Nintendo seems to be losing touch with what made them great in the first place.- watership, on 06/24/2008, -0/+6What part of AMERICAN companies confuses you fanboy?
- realpolitik, on 06/24/2008, -0/+1The survey was not strictly looking at American companies, but rather the most visible companies in America. Hence a foreign company like Honda has made the list.
linksdeity's comment is at the very least working from a valid premise. - combatchuck, on 06/24/2008, -1/+1Might have something to do with the Wii calling everybody fatasses. Seriously, though... Nintendo is barely a blip on the radar for an average person, until they remember that they want a Wii but nobody ***** has them in stock. They probably just didn't think about it.
- watership, on 06/24/2008, -0/+6What part of AMERICAN companies confuses you fanboy?
- Bologner, on 06/24/2008, -0/+5Is it just me, or does this article do absolutely ***** about describing WHY these companies are where they are?
- bassman12593, on 06/24/2008, -0/+6Isn't Honda Japanese?
- SpeedSteamBoat, on 06/24/2008, -0/+1You'd be shocked to learn just how many of their cars a being built in America.
Otherwise, yeah, you're right.
- SpeedSteamBoat, on 06/24/2008, -0/+1You'd be shocked to learn just how many of their cars a being built in America.
- MavRevMatt, on 06/24/2008, -1/+4No reasons? Another ***** Consumerist article.
- gphalf, on 06/24/2008, -1/+2Accenture should be on this list as one of the worst companies..as an offshoot of Andersen Consulting (Enron's Accounting firm) they have the same extremely poor ethics, and they treat their employees like dog crap.
- gm33, on 06/24/2008, -2/+0By all means, please correct me, but at first impression from that list I feel that the best reputations are more "liberal" minded corps, while the worst reputations are more "republican?"
Please chime in!- beankitty, on 06/24/2008, -0/+3Imagine that.
- mattousai, on 06/24/2008, -0/+3comcass it only number 5?
- APErebus, on 06/24/2008, -1/+1He is a Digg fiend!
- danomagnum, on 06/24/2008, -3/+1What about sony? Bottom 10 for sure.
- bcuban, on 06/24/2008, -0/+1Unless Eddie Lampert steps down or unloads Sears Holdings, they will be top five next in worst reputation next year
- ColorBlind, on 06/24/2008, -0/+2Go General Mills!!! Those people have worked their butt's off to be the company they are today!
- krahzee, on 06/24/2008, -0/+2To everyone shouting about the evils of some of the companies in the top 10 on this list, it examines their reputation, not their actual behavior.
- bokep, on 06/24/2008, -0/+9Johnson & Johnson at #2? This is the same company that sued Red Cross for using the cross emblem.
http://www.thestar.com/Business/article/244474 - boojoy, on 06/24/2008, -1/+4No surprise about Bank of America being at the top of the list for declining reputation. I have never had a good experience with Bank of America, never met anyone who has. If anyone of my children ever associates with anyone who knows someone who works at Bank of America, or - God forbid - works at Bank of America, I will immediately disown them. If I have to appear on Dr. Phil I will denounce my own blood and when I outlive them I will spit on their graves.
I hate Bank of America. - Janizzary, on 06/24/2008, -0/+2http://killercoke.org/
- str1fe, on 06/24/2008, -1/+3A lot of the commenters seem to not realize that this isn't one person's opinion, it's the results of a survey. That explains perfectly why Microsoft, for example, is present on top 10 best. There are millions of people who automatically associate "computer" with "Windows" and get confused with anything that lacks a Start button and Internet Explorer.
- Tribunis, on 06/24/2008, -1/+1Where's Digg?
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