Palm's Pinhead PromoterIf only somebody slapped a palm over Roger McNamee's mouth, then Palm ( PALM) could have saved itself a whole lot of trouble. The tech company filed a "free writing prospectus" with the Securities and Exchange Commission Monday on the subject of Palm investor Roger McNamee's recent Bloomberg TV interview and subsequent article. The SEC document includes 10 "Clarifications and Corrections" concerning remarks made by McNamee about the upcoming Palm Pre's functionality, as well as comparisons with Apple's ( AAPL) iPhone. McNamee co-founded Elevation Partners, a private-equity fund that invested $425 million in Palm in an effort to bring the smartphone maker back from the brink of collapse.
Moody's Hits BottomAfter missing the credit bubble on the way up, Moody's ( MCO) is winning the race to the bottom. The bond-ratings agency is expected to publish a monthly list called the "Bottom Rung," detailing the companies that Moody's says are most likely to default on their debts, according to The Wall Street Journal. The list contains the riskiest names out of the 2,073 companies rated by Moody's, touching nearly every sector of the economy. Moody's estimates about 45% of the 283 companies listed on the Bottom Rung will default on their debt in the next year. Companies such as Eastman Kodak ( EK), Unisys ( UIS), MGM Mirage ( MGM) and U.S. automakers General Motors ( GM) and Chrysler are on the list, says the WSJ. We here at The Five Dumbest Lab know a thing or two about the list-making business, having compiled this one for years on a weekly basis. So please heed our sage advice, Moody's, when we tell you to abandon your Bottom Rung plan entirely before it's too late. There's more to a quality list, you see, than simply crunching a few numbers and assigning them an order. It takes dedication, commitment and something else that you lack entirely -- credibility. Moody's, along with fellow blind mice Standard and Poor's ( MHP) and Fitch Ratings Services, sold its integrity and ratings to the highest Wall Street bidder, helping to fuel the financial meltdown. The toxic mortgage-backed assets that Moody's stamped Triple A continue to blow up on unsuspecting holders worldwide, even while the terrible trio persist in running their businesses as usual, conflicts of interest and all. Take it from us, Moody's, put aside the Bottom Rung until you and your friends emerge from the bottom of the barrel. Dumb-o-meter score: 95 -- We rate Moody's AAA: Always Acting Asinine.