MOST HATED COMPANIES

February 3, 2018


The list of the “most hated American companies” was provided by KATE GIBSON in the MONEYWATCH web site, February 1, 2018, 2:20 PM.  The text and narrative is this author’s.

Corporate America is sometimes, but not always, blamed for a number of misdeeds, swindles, “let’s bash the little guy”, etc. behavior.  Many times, those charges are warranted.   You get the picture.   Given below, is a very quick list of the twenty (20) most hated U.S. companies.  This list is according to 24/7 Wall St., which took customer surveys, employee reviews and news events into account in devising its list: ( I might mention the list is in descending order so the most-egregious offender is at the bottom.

  • The Weinstein Company. I think we can all understand this one but I strongly believe most of the employees of The Weinstein Company are honest hard-working individuals who do their job on a daily basis.  One big problem—you CANNOT tell me the word did not get around relative to Weinstein’s activities.  Those who knew are definitely complicit and should be ashamed of themselves.  This includes those holier-than-thou- actresses and actors pretending not-to-know.
  • United Airlines. The Chicago-based carrier is still in the dog housewith customers after a video of a passenger being forcibly removed from his seat on an overbooked flight went viral last year. You simply do NOT treat individuals, much less customers, in the manner in which this guy was treated.  I wonder how much money United has lost due to the video?
  • Fake news, deceptive ads, invasion of privacy.  You get the picture and YET millions subscribe.  This post will be hyperlinked to Facebook to improve readership.  That’s about the only reason I use the website.
  • I don’t really know these birds but apparently the telecom, one of the nation’s biggest internet and telephone service providers, reportedly gets poor reviews from customers and employees alike. I think that just might be said for many of the telecoms.
  • This one baffles me to a great extent but the chemical company has drawn public ire at a lengthy list of harmful products, including DDT, PCBs and Agent Orange. Most recently, it’s accused of causing cancer in hundreds exposed to its weed killer, Roundup.
  • I’m a Comcast subscriber and let me tell you their customer service is the WORST. They are terrible.  Enough said.
  • I have taken Uber multiple times with great success but there are individuals who have been harassed.  Hit by complaints of sexual harassment at the company and a video of its then-CEO Travis Kalanick arguing with an Uber driver, the company last year faced a slew of lawsuit and saw 13 executives resign, including Kalanick.
  • Sears Holdings. Sears plans to close more than one hundred (100) additional stores through the spring of 2018, with the count of Sears and Kmart stores already down to under 1,300 from 3,467 in 2007. Apparently, customer satisfaction is a huge problem also.  The retail giant needs a facelift and considerable management help to stay viable in this digital on-line-ordering world.
  • Trump Organization.  At this point in time, Donald Trumpis the least popular president in U.S. history, with a thirty-five (35) percent approval rating at the end of December. That disapproval extends to the Trump brand, which includes golf courses, a hotel chain and real estate holdings around the globe. One again, I suspect that most of the employees working for “the Donald” are honest hard-working individuals.
  • Wells Fargo. At one time, I had a Wells Fargo business account. NEVER AGAIN. I won’t go into detail.
  • The insurance industry is not exactly beloved, and allegations of fraud have not helped Cigna’s case. Multiple lawsuits allege the company inflated medical costs and overcharged customers.
  • Spirit Airlines. I’ve flown Spirit Airlines and you get what you pay for. I do not know why customers do not know that but it is always the case.  You want to be treated fairly, fly with other carriers.
  • Vice Media The media organization has lately been roiled by allegations of systemic sexual harassment, dating back to 2003. One of these day some bright individual in the corporate offices will understand you must value your employees.
  • The telecom gets knocked for poor customer experiences that could in part be due to service, with Sprint getting low grades for speed and data, as well as calling, texting and overall reliability.
  • Foxconn Technology Group. Once again, I’m not that familiar with Foxconn Technology Group. The company makes and assembles consumer electronics for entities including Apple and Nintendo. It’s also caught attention for poor working and living conditions after a series of employee suicides at a compound in China. It recently drew negative press for a planned complex in Wisconsin.
  • Electronic Arts. The video-game maker known for its successful franchises is also viewed poorly by gamers for buying smaller studios or operations for a specific game and then taking away its originality.
  • University of Phoenix. I would expect every potential student wishing to go on-line for training courses do their homework relative to the most-desirable provider. The University of Phoenix does a commendable job in advertising but apparently there are multiple complaints concerning the quality of services.
  • I’m a little burned out with the NFL right now. My Falcons and Titans have had a rough year and I’m ready to move on to baseball. Each club sets their own spring training reporting dates each year, though all camps open the same week. Pitchers and catchers always arrive first. The position players don’t have to show up until a few days later. Here are this year’s reporting dates for the 15 Cactus League teams, the teams that hold spring training in Arizona.
  • Fox Entertainment Group. If you do not like the channel—do something else.  I bounce back and forth across the various schedules to find something I really obtain value-added from.  The Food Network, the History Channel, SEC Network.  You choose.  There are hundreds of channels to take a look at.
  • The consumer credit reporting was hit by a massive hack last year, exposing the personal data of more than 145 million Americans and putting them at risk of identity theft. Arguably worse, the company sat on the information for a month before letting the public know.

CONCLUSIONS:  In looking at this survey, there are companies that deserve their most-hated-status and, in my opinion, some that do not.  Beauty is in the eye of the beholder.  As always, I welcome your comments.

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HACKED OFF

October 2, 2017


Portions of this post are taken from an article by Rob Spiegel of Design News Daily.

You can now anonymously hire a cybercriminal online for as little as six to ten dollars ($6 to $10) per hour, says Rodney Joffe, senior vice president at Neustar, a cybersecurity company. As it becomes easier to engineer such attacks, with costs falling, more businesses are getting targeted. About thirty-two (32) percent of information technology professionals surveyed said DDoS attacks cost their companies $100,000 an hour or more. That percentage is up from thirty (30) percent reported in 2014, according to Neustar’s survey of over 500 high-level IT professionals. The data was released Monday.

Hackers are costing consumers and companies between $375 and $575 billion, annually, according to a study published this past Monday, a number only expected to grow as online information stealing expands with increased Internet use.  This number blows my mind.   I actually had no idea the costs were so great.  Great and increasing.

Online crime is estimated at 0.8 percent of worldwide GDP, with developed countries in regions including North America and Europe losing more than countries in Latin American or Africa, according to the new study published by the Center for Strategic and International Studies and funded by cybersecurity firm McAfee.

That amount rivals the amount of worldwide GDP – 0.9 percent – that is spent on managing the narcotics trade. This difference in costs for developed nations may be due to better accounting or transparency in developed nations, as the cost of online crime can be difficult to measure and some companies do not do disclose when they are hacked for fear of damage to their reputations, the report said.

Cyber attacks have changed in recent years. Gone are the days when relatively benign bedroom hackers entered organizations to show off their skills.  No longer is it a guy in the basement of his or her mom’s home eating Doritos.  Attackers now are often sophisticated criminals who target employees who have access to the organization’s jewels. Instead of using blunt force, these savvy criminals use age-old human fallibility to con unwitting employees into handing over the keys to the vault.  Professional criminals like the crime opportunities they’ve found on the internet. It’s far less dangerous than slinging guns. Cybersecurity is getting worse. Criminal gangs have discovered they can carry out crime more effectively over the internet, and there’s less chance of getting caught.   Hacking individual employees is often the easiest way into a company.  One of the cheapest and most effective ways to target an organization is to target its people. Attackers use psychological tricks that have been used throughout mankind.   Using the internet, con tricks can be carried out on a large scale. The criminals do reconnaissance to find out about targets over email. Then they effectively take advantage of key human traits.

One common attack comes as an email impersonating a CEO or supplier. The email looks like it came from your boss or a regular supplier, but it’s actually targeted to a specific professional in the organization.   The email might say, ‘We’ve acquire a new organization. We need to pay them. We need the company’s bank details, and we need to keep this quiet so it won’t affect our stock price.’ The email will go on to say, ‘We only trust you, and you need to do this immediately.’ The email comes from a criminal, using triggers like flattery, saying, ‘You’re the most trusted individual in the organization.’ The criminals play on authority and create the panic of time pressure. Believe it or not, my consulting company has gotten these messages. The most recent being a hack from Experian.

Even long-term attacks can be launched by using this tactic of a CEO message. “A company in Malaysia received kits purporting to come from the CEO.  The users were told the kit needed to be installed. It took months before the company found out it didn’t come from the CEO at all.

Instead of increased technology, some of the new hackers are deploying the classic con moves, playing against personal foibles. They are taking advantage of those base aspects of human nature and how we’re taught to behave.   We have to make sure we have better awareness. For cybersecurity to be engaging, you have to have an impact.

As well as entering the email stream, hackers are identifying the personal interests of victims on social media. Every kind of media is used for attacks. Social media is used to carry out reconnaissance, to identify targets and learn about them.  Users need to see what attackers can find out about them on Twitter or Facebook. The trick hackers use is to pretend they know the target. Then the get closes through personal interaction on social media. You can look at an organization on Twitter and see who works in finance. Then they take a good look across social platform to find those individuals on social media to see if they go to a class each week or if they traveled to Iceland in 1996.  You can put together a spear-phishing program where you say, Hey I went on this trip with you.

CONCLUSIONS:

The counter-action to personal hacking is education and awareness. The company can identify potential weaknesses and potential targets and then change the vulnerable aspects of the corporate environment.  We have to look at the culture of the organization. Those who are under pressure are targets. They don’t have time to study each email they get. We also have to discourage reliance on email.   Hackers also exploit the culture of fear, where people are punished for their mistakes. Those are the people most in danger. We need to create a culture where if someone makes a mistake, they can immediately come forward. The quicker someone comes forward, the quicker we can deal with it.

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