It's time to review Wall Street's summer antics in The Five Dumbest Things Labor Day Quiz.
Our winners are Robert Donnelly and Alice Ward. Each will get a signed copy of Jim Cramer's
Thanks to everyone for participating. Now, here are the answers.
1. Home Depot (HD) adopted a majority-vote rule for board elections, "reinforcing our company's commitment to shareholder engagement and director accountability."What happened when this bastion of good governance last held an annual meeting?
- No directors showed up, save for handsomely compensated CEO Bob Nardelli.
- Home Depot referred investor questions to the nearest mailbox.
- Demonstrators chanted "Hey, Nardelli! Your stock price turned to jelly!"
- All of the above.
Click for the answer! 2. DuPont (DD) overhauled its employee-benefit plans. What is the chemical company doing to "reinforce our commitment to help employees provide for a secure retirement"?
- Immediately freezing all worker pensions.
- Slashing pension benefits by two-thirds in 2008.
- Eliminating its traditional pension plan altogether.
- All of the above.
Click for the answer! 3. Match the tech juggernaut with a notable recent action.
- Publicly lauded a key distributor for having "persevered through a huge integration."
- Set plans for a rare 1-for-7 reverse stock split.
- Promised its CEO will spend more time at his desk.
- Offered disappointing sales guidance while applauding its own "commitment to innovation and manufacturing scalability."
Click for the answer! 4. Fire risks linked to lithium-ion batteries have swept the computer business. Which company wasn't involved in a big laptop-battery recall last month?
Click for the answer! 5. Match the company with the appropriate legal-settlement commentary.
- Prudential (PRU)
- Schering-Plough (SGP)
- Apple (AAPL - Get Report)
- Martha Stewart Living (MSO - Get Report)
- "We have made great progress in building an organization that puts business integrity at the center of its work."
- "This brings closure to a personal matter and my personal nightmare has come to an end."
- A legal adversary "is very fortunate to have been granted this early patent."
- "This settlement represents our desire to do the right thing and to put this matter behind us."
Click for the answer! 6. A pipeline-corrosion problem recently forced the partial shutdown of a key BP (BP) oil field. What is the name and location of the field?
- Texas City, Texas
- Hyperion Bay, Idaho
- Prudhoe Bay, Alaska
- Prudhomme Bay, Louisiana
Click for the answer! 7. Match the hard-hitting communications executive with his insightful remarks.
- Cisco (CSCO - Get Report) chief John Chambers.
- Verizon (VZ - Get Report) retail markets president Bob Ingalls.
- Sprint (S) CEO Gary Forsee.
- Motorola (MOT) CEO Ed Zander.
- "None of us today can envision our lives without wireless connectivity or the Internet."
- "Each of these stunning new handsets is designed to serve as a remote control for life."
- "We continue to do everything we can to encourage customers to enter the broadband world."
- "Not only is the network becoming the primary driver of IT and communications, it is becoming the platform for life's experiences."
Click for the answer! 8. Starbucks (SBUX - Get Report) shares dropped sharply after the company posted tepid sales growth. Which management statement gave investors a jolt?
- The new Chicken Apple Sausage Bagel will be available for a limited time only.
- Customers were ordering too many Frappuccinos too early.
- The "level of coffee education" around the world is "really remarkable."
- "We are dogmatic about protecting Starbucks' intellectual property."
Click for the answer! 9. Phoenix-based molybdenum melter Phelps Dodge (PD) unveiled a $56 billion three-way merger earlier this summer with miners Inco (N) and Falconbridge, both of Toronto. Name the metals giant that hasn't since made a proposal to acquire at least one of those companies.
- Teck Cominco (TCK), Vancouver, B.C.
- CVRD (RIO), Rio de Janeiro
- Xstrata, Zug, Switzerland
- Mittal Steel (MT), Rotterdam
Click for the answer! 10. Match the sound-alike company with a recent accomplishment.
- Fired its CEO days after projecting an unexpected 2006 loss.
- Disclosed a "self-initiated, voluntary review" of stock option accounting.
- Announced its "dirty bomb treatment proposal" was under government review.
- Brushed off talk of a sharp slowdown in its business.
Click for the answer!