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Billionaire hedge fund manager took Kmart out of bankruptcy in 2003, then
acquired Sears for $11 billion and merged the companies in 2005 to
create Sears Holdings. Though Sears was floundering he took over as
CEO in February 2013.
After racking up losses of $3 billion in two years, Lampert, 52, is on our list
for the second consecutive year because he’s failed to boost numbers,
instead sinking into the black pit of doom that seems to be the fate of brick
and mortar retailers who can’t manage an online strategy.
Failed to fix Sears’ balance sheet woes by spinning off Lands’ End, after
already making Sears Hometown and Outlet Stores separate companies.
“His ego says he can’t leave and cut his losses and move on,” says Tuck
business school’s Sydney Finkelstein.
He also reportedly enforced strict etiquette for his staffers including on the
company’s Gulfstream jet where he distributed a 40-page manual that
included a clean-shaven dress code of Abercrombie polo shirts, boxers,
flip-flops and light Abercrombie cologne. The manual also designated
where his dogs should sit.
Company is in the red, with some $300 million of losses since 2010. The
board has accused Charney of tapping company funds for personal use.
His actions cost the company and helped send the stock down by half this
year, to just 58 cents a share.
Has hired lawyer Patricia Glaser, who has represented celebrity clients
like Paula Dean, to contest his ouster.
Uber stopped its service in New Delhi after a driver was arrested, accused
of raping a woman in his car.
District attorneys in San Francisco and LA said the company falsely
advertised top safety standards with background checks, yet Uber doesn’t
do fingerprint scans of drivers.
The bank collapse has shaken the economy’s tentative recovery and the
Portuguese government has pumped $6.1 billion into the bank in a
restructuring.
The company has recently had weak order growth and poor margins.
Mark Frissora, former CEO, Hertz
Left in September after billionaire activist investor Carl Icahn called for his
resignation, saying Frissora’s leadership had produced a “lack of
confidence” at the company.
Ovrersaw the acquisition of the Dollar Thrifty rental car chain, which hasn’t
brought in new profits.
Angry Birds has fallen out of the top 100 of free gaming apps.
Head of the $207 million (revenues) San Diego company that makes
semiconductors for home entertainment systems,
Henry reportedlyattacked “Beverly Hills Nannies” reality TV personality Ari
Bellamar, dragging her by the hair and throwing her against a wall. When
she tried to call 911 he grabbed her phone and shattered it against a wall.
The two met online.
In June a Utah judge found him guilty of assault, fined him $400 and
sentenced him to 40 hours of community service
After laying off 150 workers in June, it let another 200 employees go in
November.
In April the felony counts were dismissed and Chahal pled guilty to
misdemeanors. He was sentenced to three years of probation and a year
of domestic-violence counseling