8 large companies destroyed by the founder

Wednesday, 20/02/2013, 10:43 GMT+7

( - BlackBerry, Dell, Best Buy... is the big name was the founder of decline with mistakes and failed projects.

Based on U.S. stock exchanges, news 24/7 Wall St. provide a list of major companies listed on stock destroyed by the founder.

1. Dell

Founder: Michael Dell

Percentage of voting shares: 13.97%

Year of Establishment: 1984

Dell's global PC market share fell from 15.9% in 2006 to 10.7% in 2012. Computer manufacturer not only shares fell 30% in 2011, but lost a total of up to 59% in five years. You III/2012, revenues of Dellgiam from $ 15.4 billion to $ 13.7 billion. Also lost nearly half profit to $ 475 million over the same period.

The favorite customers switch to tablets and smart phones has caused a serious impact on the business Dell.Michael Dell founded Dell in 1984 when he was 19 years old and was a student at university. By 2001, Dell became the supplier of the world's largest computer systems. In 2004, Michael Dell and resigned again in February / 2007. Meanwhile, the company has started no longer attractive to customers in the fierce competitive market.

Not only lost market share, Dell authorities attention. In 2010, the company was American Stock Exchange fined $ 100 million, Michael Dell was fined $ 4 million related to the allegations of accounting fraud.

2. Chesapeake Energy

Founder: Aubrey McClendon

Percentage of voting shares: Less than 1%

Year of Establishment: 1989

Since co-founding gas company Chesapeake Energy CEO Aubrey McClendon is known for compensation crisis and the large investment in the company. In 2008, McClendon large losses after borrowing money to buy large amounts of shares of Chesapeake Energy. That same year, Chesapeake Energy to pay McClendon $ 100 million.

April / 2012, he was under investigation for using their shares in the company to borrow $ 1.1 billion in three years, while managing a hedge fund oil worth $ 200 million. May / 2012, McClendon Chesapeake's board forced to resign the presidency.

III/2012 quarter revenue of the company also declined to $ 3 billion from $ 4 billion last year. Negative $ 2 billion company profits over the same period in 2011 was $ 922 million.

3. Martha Stewart Living Omnimedia

Founder: Martha Stewart

Percentage of voting shares: 86.7%

Year of Establishment: 1997

Media company Martha Stewart Living Omnimedia is currently struggling to survive when its customers gradually aging, while the company depends too much on the paper magazine.

In 2004, Martha Stewart's image was severely damaged when she was accused of abusing insider information to sell-off the pharmaceutical research company Imclone before this stock devaluation. Though monumental campaign to back, all the efforts of Martha Stewart could not revive the company.

Since 2007, the company continued losses. The senior leadership changes frequently also one of the reasons that companies plummeted. Since founded, Martha Stewart Living Omnimedia to 5 executive and 5 finance director.

4. BlackBerry

Founder: Mike Lazaridis

Percentage of voting shares: 5.7%

Year of Establishment: 1984

Mike Lazaridis, co-founder of BlackBerry (previously Research In Motion) in 1984 and held the position of co-CEO Jim Balsillie, up to 1/2012. Both are pioneers in the smartphone revolution.

However, Lazaridis was not prepared for the BlackBerry storm competition from Apple and Samsung. The biggest mistake of Lazaridis (also why the end of his tenure at the BlackBerry) PlayBook tablet.

In III/2012 quarter, market share of the global mobile device's BlackBerry fell to 5.3% from 11% last year.

5. Countrywide Financial

Founder: Angelo Mozilo

Percentage of voting shares: 1.5%

Year of Establishment: 1968

During the peak, under the leadership of former CEO Angelo Mozilo, Countrywide Financial mortgage risk during the housing bubble, the company growth. In 2006, the company accounted for 20% of the mortgage market in the United States.

However, when the real estate market freeze, the debtor's bankruptcy, Countrywide collapse. Finally, in 2008, the company was sold to Bank of America for $ 4 billion and Mozilo also was fired after a few months.

After that, the company was sued for fraud many borrowers mortgages they can not afford. Mozilo also under investigation by the allegations involve a number of government officials and politicians are mortgage loans with preferential terms just because they are friends of his.

In 2010, Mozilo was fined $ 67 million for taking advantage of inside information to trade shares. He banned permanently for executive positions listed company's shares.

6. Groupon

Founder: Andrew Mason

Percentage of voting shares: 19.5%

Year of Establishment: 2008

August / 2011, Groupon had to revise its financial statements after the investigating agencies and analysts discovered the accounting fraud. Early in 2012, Groupon was forced to change the financial statements when the company declared profit increased to $ 20 million.

These reasons coupled with failing business, making Groupon's share price plummeted. The company's current stock price is only one-quarter compared with $ 20 price listed first.

The work has not worsened so if in 2010 the company did not reject the proposal for $ 6 billion acquisition by Google. Many people believe that Mason is not mature enough to run a company with such a scale. He even drank beer in the company meeting.

7. American Apparel

Founder: Dov Charney

Percentage of voting shares: 43.3%

Year of Establishment: 1989

Dov Charney founded and operated clothing company American Apparel from his dorm room at Tufts University in the late 1980s. 20 years later, in 2008, American Apparel has more than 6,700 employees and 197 stores worldwide.

However, the compelling ad and rapid expansion can not help solve the problems of the company. In 2009, Immigration and Customs Enforcement (ICE) has said up to 25% of employees of subsidiary companies in Los Angeles are illegal immigrants.

, 2011, Charney stick to 2 cases of sexual abuse. In December of that year, a former store manager accused Charney strangled and thrown dirt on my face. Charney has denied all allegations of wrong behavior. American Apparel also are still fighting to survive with losses in the past 12 months.

8. Best Buy

Founder: Richard Schulze

Percentage of voting shares: 20.24%

Year of Establishment: 1966

Founder Richard Schulze of Best Buy is struggling to maintain sales company through Best Buy TV market when customers are moving to online. Best Buy's business was seriously affected by the growth of online sales companies such as In IV/2012 quarter, Best Buy loss of $ 10 million while revenue fell 4% compared to the same period last year.

Schulze severely criticized when it comes to sex scandals in the company. He is also under investigation for not reporting the incident to discover. Shortly after the investigation, Schulze has announced her retirement.

Written : Theo Hoài Thu Zing/Infonet/Wallst 247