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Facebook, AT&T, Netflix and Goldman Sachs top list of '10 most hated companies in US'

Users think Facebook invades their privacy, AT&T has the lowest customer satisfaction of any wireless provider, Netflix squandered its goodwill with a 60 percent price hike and Goldman Sachs has become the face of corporate greed, according to a report that lists the 10 most hated companies in America.

Some of the country's highest-profile corporations are on the ranking, which is based on several criteria, from customer satisfaction survey data to profits to public and political reputation.


The list includes companies that are bankrupt (American Airlines), failing (Sears) and in trouble with regulators (Johnson & Johnson).

The list was compiled by the financial news website 24/7 Wall Street as a quasi-scientific gauge of the companies with the worst reputations in the country.

Facebook is one of the most prominent names on the list. The website picked the social networking giant, which has 800 million users, because it has the lowest customer satisfaction rating of any major social media company.

Nearly one quarter of users list their satisfaction as 'poor,' the lowest grade, according to an MSN Money-IBOPE Zogby International customer service survey.

24/7 Wall Street argued it was Facebook's privacy policies and the implementation of new technology like facial recognition software that resulted in the dislike from customers.

Poor customer service also got AT&T added to the list. Two survey agencies rated its customer care the worst in the country among wireless carriers. Consumer Reports says its cell phone service is also bottom of the barrel.

In addition to all of that, the company was criticized by the government and the press for its failed attempt to buy rival T-Mobile. 24/7 Wall Street says it sparked fears the company would be able to exert too much control over prices.

Netflix had the highest consumer satisfaction of any large consumer company just a year ago but a series of missteps by corporate leaders made it one of the most hated.

A sudden 60 percent price increase led more than 800,000 subscribers to flee the company. It's stock dropped from $305 to $90 a share in less than six months.

Goldman Sachs was listed for its public reputation, rather than its earnings or customer satisfaction, 24/7 Wall Street said.

A $550 million fraud suit that the company settled out of court and other legal troubles, combined with high profits while the rest of the country was still suffering from the economic downtown led Goldman to become the primary target of the Occupy Wall Street movement.

Notably absent from the list are two companies that are often the subject of public ire -- mega-retailer Wal-Mart and BP, which was responsible for last spring's gulf oil spill.

HERE ARE THE '10 MOST HATED COMPANIES IN AMERICA'

The website 24/7 Wall Street listed these 10 companies in no particular order. Also included are a summary of the reasons given:

• Facebook: For privacy and customer service concerns
• American Airlines: A recent bankruptcy and the lowest customer satisfaction in the airline industry
• AT&T: The worst-rated customer service, the lowest customer satisfaction and a failed bid to take over T-Mobile
• Nokia: Poor stock performance and a slipping share of the mobile handset market
• Goldman Sachs: High profits during hard economic times and a host of government accusations made Goldman the object of anger for the Occupy Wall Street crowd
• Best Buy: Canceled online orders just before Christmas and low customer satisfaction
• Bank of America: A widely-publicized attempt to charge a $5 debit card fee, poor customer service ratings and legal trouble from the federal government and other financial service companies
• Johnson & Johnson: The drug maker has reportedly had contamination and quality control problems in several of its medications, including Tylenol
• Sears: Declining sales, poor online shopping customer satisfaction and a newly announced plan to close 120 stores
• Netflix: A surprise 60 percent price hike and difficulty re-branding products has led this once-loved company to shed 810,000 subscribers

Read more: http://www.dailymail.co.uk/news/article-2088035/Facebook-AT-T-Netflix-Goldman-Sachs-list-10-hated-companies-US.html#ixzz1k0kGfSF8