NEW YORK ( TheStreet) -- The egg industry's attempt to pin its salmonella woes on consumers was deemed the dumbest thing on Wall Street this week by readers of TheStreet.
As of late Friday, almost 38% of the 238 readers that took our poll said they found blaming consumers' shoddy cooking techniques for the salmonella scare to be a weak attempt at deflecting responsibility. A spokesperson for the United Egg Producers, a group that represents the nation's egg farmers, told USA Today that the consumers who reported being sick from the recalled eggs ended up that way because they had failed to prepare them properly. "It may sound harsh, and I don't mean it to sound that way. But all the responsibility cannot be placed on the farmer," Krista Eberle, director of the United Egg Producers' Food Safety Programs, told USA Today. "Somewhere along the line, consumers have to be responsible for what they put in their bodies." Almost 24% of voters said they think that the tech sector's failure to innovate was next dumbest thing this week. It seems that companies within the sector are just throwing around money instead of funding their own research and development. Companies such as HP ( HPQ), Intel ( INTC), and IBM ( IBM) seem more eager to buy their innovation rather than developing it themselves. This method is among the most expensive and inefficient ways to grow a business. Mediacom's ( MCCC) rejection of its own CEO's buyout offer outraged 15% of voters. When Rocco Commisso, offered $245 million, or $6 per share, to purchase the remaining stock he doesn't already own and take the company private, the company board wouldn't accept.
After Commisso announced that he had withdrawn his proposal on Tuesday, shares of the company took a nosedive. " CEOs Recoil From the Ratio" was close behind in the poll with 14% of votes. According to the Financial Times, S&P 500 company executives raked in a median compensation of $7.5 million last year compared with the average private sector employee salary of $40,000. "We're not debating the concept of disclosure -- we think it's a good thing," Larry Burton, executive director of the Business Roundtable, which represents chief executives of the biggest U.S. companies, told the FT. "But you can do more harm than good if you take a well-intended piece of policy and implement it badly. That's the risk here." Close to 10% of voters found it dumb that retailers were applauded for reporting better-than-expected August same-store sales, as expectations were set incredibly low. According to the International Council of Shopping Centers Overall, total same-store sales were up 3.2%, on .2% better than the prediction of a 3% gain. -- Written by Theresa McCabe in Boston. >To contact the writer of this article, click here: Theresa McCabe. >To follow the writer on Twitter, go to @TheresaMcCabe. >To submit a news tip, send an email to: firstname.lastname@example.org.