NEW YORK ( TheStreet) -- Fannie Mae and Freddie Mac's never-ending bailout was considered the dumbest thing on Wall Street this week by readers of TheStreet.
The news that Steve Jobs was putting down Apple's ( AAPL - Get Report) competitors was considered dumb by 20% of voters. On his company's conference call on Tuesday, one might have thought the CEO would have preferred to focus on its $20 billion in quarterly revenue, and the unveiling of the ultra-thin MacBook Air on Wednesday. Instead, he explained why his competitors' tablets would be "dead on arrival," due to their fragmented operating systems and their foolhardy commitment to the simply unusable 7-inch screen. "Their manufacturers will learn the painful lesson that their tablets are too small and increase the size next year, thereby abandoning both customers and developers who jumped on the seven-inch bandwagon with an orphan product," Jobs said on the call. "Sounds like lots of fun ahead." Close to 7% of voters found it dumb that Cell Therapeutics ( CTIC - Get Report) announced it was on track to filing its experimental lymphoma drug, pixantrone, with European regulators later this quarter. Not that it had filed, just that it was on its way to filing. >>Cell Therapeutics: Empty Promises
Cell Therapeutics hasn't been living up to its stated goals. In July 2009 management told investors that they could expect pixantrone to win U.S. approval in the fourth quarter of that year, followed by approval in Europe in the third quarter of 2010. However, the company has not yet filed the drug with regulators and won't be able to run a pediatric clinical trial until after the drug is approved. Almost 6% of voters think that Randy Michaels staying at Tribune Company after the Chicago Tribune reported that
he was headed for the exit is pretty dumb. Despite expectations, Michaels has not resigned from his CEO position where he has is said to have fostered a frat-house environment, the New York Times reported. If Michaels leaves it would mark the second high profile departure from the company in about a week. Last week, so called "chief innovation officer" Lee Abrams resigned after sending out an inappropriate email to the company. That sure was "innovative" -- as in an innovative way to get canned. -- 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.