John Griffin, CEO of a Livermore, Calif., startup, pockets about $750,000 of seed capital after lying to investors lured by the company's promise to develop a "dirt eater" to clean toxic soil. After reportedly spending the money on such necessities as a Ferrari, Super Bowl tickets, and steroids, Griffin is sentenced to 30 months in prison. The name of the startup: VaporTech.
Friday, December 21, 2007
Bosses behaving badly
The current issue of Fortune Magazine has a section on the dumbest moments in business in 2007. A few CEOs who did something stupid this year are highlighted. I particularly liked this one:
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