Most Hated Companies List Released
A new report by 24/7 Wall Street has listed the Top 10 Most Hated Companies in the United States. This list is based upon factors such as total return to shareholders, financial analysts' opinions, reporting by consumer agencies and the views of taxpayers, Congress and the White House.
The Top 10 Most Hated Companies list is as follows:
1. Facebook
2. American Airlines
3. AT&T
4. Nokia
5. Goldman Sachs
6. Best Buy
7. Bank of America
8. Johnson & Johnson
9. Sears
10. Netflix
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Facebook tops the list due its near-bottom customer satisfaction score, the lowest of the ten companies. Reports show that American Airlines canceled 70 percent more flights than rivals United and Delta. AT&T also has a very low customer score due to its spotty coverage.
Bank of America caused outrage by charging new fees for use of its debit card; its decision to charge the fee even provoked a response from the White House.
Netflix angered users when it doubled prices and separated its streaming service from mail delivery of DVD's. Its attempt to spin-off Qwickster.com for postal delivery was a huge flop, and the company later apologized to customers for separating the two. It has not fully recovered since the division.
Best Buy and Sears both ranked low for customer service, and Sears even announced plans to close 120 stores in the midst of high unemployment.
Goldman Sachs has reported high profits and gave out large bonuses when the nation is in a recession, fueling protests and drawing the ire of Occupy Wall Street. Pharmaceutical giant Johnson and Johnson has faced severe scrutiny for its handling of recalls and product contamination.
What do people think of Facebook taking the lead spot? One Huffington Post user, Zilo, wrote, "Zuckerberg has made it clear that he couldn't care less about the privacy of Facebook's users. But like it or not Facebook is a way of life for a lot of people right now. I foresee a huge boycott coming in Facebook's future…I think they're going to end up in Netflix territory soon enough."
Others have offered alternatives for the top spot, including Chase Bank, the U.S. Postal Service, Dr. Pepper, and Merrill Lynch.
