Name: Top 10 Dumbest Statements by Corporate Executives
Uploaded: 2021-02-24T20:13:33.000Z
Duration: 12 min 53 s
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And today we're counting down our picks for the top 10.

For more discussion on topics like this, check out our business channel context, TV.

Ah, lot of people don't belong in our clothes and they can't belong.

Africans want to work, and its workers are willing to work for less than $2 a day after the fact.

It looks unbelievably stupid for this list.

We're looking at the most out of touch damaging or inappropriate statements made by corporate executives.

Let us know in the comments below number 10, the music industry as a sick dog.

You know, it's no secret that the music industry was utterly rocked, no pun intended by file sharing sites like Napster, which allowed anyone instant and free access to every major album and song.

It was on college campuses with high speed Internet that Napster really took off in the fall of 99.

How many MP three do you have on your computer about 600 maybe like 100 or something six or 7000.

The music industry floundered, including Universal Music Group CEO Doug Morris.

During a profile with journalist Seth Mnookin, Morris claimed quote.

It's like if you were suddenly asked to operate on your dog to remove his kidney.

What would you dio if hiring someone with digital business acumen sounds like a good idea, then Morris is quick to rebut.

With quote, I wouldn't be able to recognize a good technology person.

Phrases like good technology person tell you all you need to know about the music industry shake up in the two thousands.

The thing about music is that music should be available toe anybody that wants to hear it.

I think that that there should be no such thing as a price tag on Music number nine on Electric Toy.

William Morton served as president of the Western Union Telegraph Company.

It was also around this time that Alexander Graham Bell was patenting the first telephone in starting A T and T telephone.

Orton and Western Union actually had the option to buy Bell's patent for $100,000 the considerable sum in the 19th century.

He declined and defended his decision with a question quote.

But Orton's disastrous decision may be one of the biggest business blenders in American history.

Telephones quickly spread throughout the world, and Bell became, ah, household name.

Did you know who William Morton was before we told you after the fact it looks unbelievably stupid.

Maybe it's often given is one of the worst business decisions in the history of the United States.

Much like Napster, Netflix completely changed the TV and movie industry by introducing streaming as a widespread form of media consumption.

What Napster introduced America to was the idea that you could have a very large menu of content at your fingertips and you could hit a button and get that delivered in Hollywood, the move toward direct consumer business models has been incredibly disruptive.

Back in 2010, Netflix was in its infancy, and it had just made a deal to stream movies from distribution companies like MGM and Paramount.

You watch Netflix on your PC or on your TV through a game console or other devices connected to the Internet.

That's via Time Warner CEO Jeff Books, with quick to criticize their business model, saying quote at 8 to $10 it doesn't have the economics to support high value programming.

He also compared Netflix to the Albanian army, asking quote.

Is the Albanian army going to take over the world?

Netflix did take over the world, and their economics has supported $200 million.

Um, okay, you know, you know, the the only good answer for that since it's worth how much?

Mike Jeffries until 2014, Mike Jeffries served as the CEO of popular clothes retailer Abercrombie and Fitch.

In a 2006 interview with Salon, he explained their marketing philosophy as being quote exclusionary.

We go after the attractive, All American kid with a great attitude and a lot of friends.

Ah, lot of people don't belong and they can't belong.

Shoppers on Park Avenue had a few things to say to Mr Jeffries.

I think it's going to affect their business because if they're only letting a certain type of people buy their clothes, then kind of hurt them.

He went on to criticize companies that embraced people of different sizes and ages.

When the comment faced backlash, Jeffries apologized and claimed that Abercrombie and Fitch doesn't discriminate based on quote individual characteristics.

Not only will I not let my kids shop at Abercrombie again, I will not let them wear what they already have in their closet.

Number six cars are a novelty Michigan savings.

When it comes to tech, it's tough to predict the future as such.

More than a few people have spectacularly misjudged the potential of new technologies.

In the early 20th century, Henry Ford wished to incorporate his automaker company, so he hired a lawyer named Horace Rackham.

Rackem personally bought $5000 in Ford stock against the advice of Michigan Savings Bank, their president told Rackham Quote.

The horse is here to stay, but the automobile is only a novelty.

In 1919, Rackham sold his stocks for $12.5 million and spent the rest of his life giving money to charity number five less than $2 a day.

Gina Rinehart, worth an estimated $15.6 billion US Australian mining magnet, and Harris Gina Rinehart generated immediate controversy with a video posted to the Sydney Mining Club's YouTube channel.

In the 2012 clip, she lauded Africa on the grounds that quote Africans want toe work and its workers are willing to work for less than $2 a day.

Such statistics make me worry for this country's future.

Indeed, few now could have missed the reports of companies running a ruler again over investments that were in the pipeline.

The Australian prime minister, Julia Gillard, was quick to counter, saying quote, It's not the Australian way to toss people $2 to toss them a gold coin and then ask them to work for a day, She added.

We support proper Australian wages and decent working conditions.

Number four Kicking cigarettes James Morgan It's a well established fact that nicotine is addictive and that quitting smoking is difficult.

Well, actually, yesterday I was smoking again.

Today, I'm I'm smoking Still, however, according to tobacco executive James Morgan, quitting smoking is similar to acquitting candy.

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Top 10 Dumbest Statements by Corporate Executives

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