Radio Industry Out of Tune, Poll Says

The radio industry's bid to require FM tuners be installed in cell phones and PDAs is voted as the dumbest thing on Wall Street last week.
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NEW YORK (

TheStreet

)-- The radio industry's bid to make FM tuners a required element of cell phones and PDAs isn't sitting well with readers of

TheStreet

. In fact, it took last week's title of dumbest of the dumb. .

We asked readers of last week's

5 Dumbest Things on Wall Street

what they thought qualified as the best example of bone-headed thinking. Of the 286 readers that responded to our survey, 112, or 39.2%, felt the idea of requiring makers of cell phones and PDAs to install FM tuners in their devices was laughable.

The

National Association of Broadcasters

and the

Recording Industry Association of America

argued that FM tuners should be mandated as a matter of public safety.

5 Dumbest: Poor Reception for the Radio Industry

The radio industry got some serious competition from

HP

(HPQ) - Get Report

and its frenzied bidding war with

Dell

(DELL) - Get Report

to acquire

3Par

(PAR) - Get Report

. At 93 votes, or 32.5% of respondents, HP's effort to acquire a business that isn't profitable was deemed the second dumbest action of the week.

On Friday, before market open, Dell announced that 3Par had

accepted its revised offer of $27 a share in cash

, or $1.8 billion. Hot on the heels of Dell's announcement, however, HP upped the ante ,

raising its own bid to $30

, for a total purchase price of almost $1.9 billion. Dell has until Wednesday to respond.

At a distant third place finish, with 36 votes, or 12.6% of those surveyed, was

Apple's

(AAPL) - Get Report

plans to make a third run at the TV market with a buck-a-show rental service.

-- Written by Ross Tucker in New York.

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