Have you filled out your bracket at the Consumerist blog yet?Don't worry, they don't want early picks for the 2009 NCAA hoops tournament -- the popular consumer rights website is asking readers to vote for which business deserves the dubious honor of "Worst Company in America."
The annual contest starts off with a field of 64 companies infamous for their treatment of consumers. This week, readers have been choosing among the "Elite 8" corporate miscreants. Five -- soon to be six -- of the eight finalists are headquartered in the South: American Airlines (Texas), Bank of America (North Carolina), Capital One (Virginia), ExxonMobil (Texas) and Wal-Mart (Arkansas).
Voters' brackets were thrown into chaos by yesterday's "Elite 8" match-up, which pitted #7 Bank of America vs. #15 Countrywide Home Loans, given the news that the Charlotte banking giant BofA is buying up Countywide and its troubled home mortgage operations.
The blog editor's advice: "For the purposes of this contest we ask that you evaluate their track record with consumers separately." According to testimonials from Consumerist readers, neither has a pretty track record:
Bank of America:Many readers were dismayed at the prospect of such operations now being under one roof.
"Bank of America tellers gave away $12,000 of my money to a woman with missing teeth and a fake driver's license in my name. On SEVEN occasions. In places I never go."
"My girlfriend had a credit card with a bank that was bought out by BOA. Her monthly payments went from $20 a month to $170 despite the fact that she never missed a payment and always paid more then the minimum."
"BoA is not just "a" bank, they're a bank with some of the least customer-friendly policies in America. Re-opening closed accounts then charging $35 for it? That's not a courtesy, that's fraud."
"Can u say overdraft? Lets take billions from the poor every year and feel good about it!"
Countrywide:
"Countrywide, because before the subprime crisis I could finance my education, and now I'm posting as a dropout."
"Countrywide is ultimately what caused the dollar to be worthless. So them, and people like them, wrecked our economy."
"Countrywide is the subprime mortgage business. Sure, blame is spread widely, but no one company/person/sector so aggressively made it part of their business plan."
UPDATE: The Final Four has been announced: Comcast, Countrywide, Diebold and Wal-Mart (the highest vote-getter among the Elite 8). Who are you betting will win it all?
Leave a comment