Today, as reported on CNNMoney.com, Business 2.0 released its 7th Annual look at the dumbest moments in business from the past year and declared Wal-Mart its grand prize winner for the #1 “Dumbest Moment in Business” for 2006.
Despite spending untold millions of dollars on high priced public relations campaigns and consultants, Wal-Mart — incredibly — was not only the winner, but held six spots among the 101 dumbest moments identified by Business 2.0.
In fact, Business 2.0 singled out the “Candidate Wal-Mart campaign,” created by Leslie Dach and run by Edelman Communications, as one of the reasons Wal-Mart was so dumb. “Candidate Wal-Mart” resulted in declining same stores sales growth, the worst November/December holiday sales in 11 years, and a public image which, according to Business 2.0, rivals the popularity of Spiro Agnew (we would argue the popularity of Richard Nixon, but who wants to be a stickler about these things).
The entire article and list of Wal-Mart’s PR gaffes and Edelman foibles can be viewed at http://www.cnnmoney.com/.