LOUISVILLE, KY: Insider trading, crashes, racial profiling, and financial disruptions combined to make the airline industry the most crisis-plagued of 2006, according to a new annual report from the Institute for Crisis Management (ICM).
The report ranks 2006 as one of the most crisis-intense years of the last decade, trailing only 2005.
White collar crime was the greatest source of corporate crisis, accounting for 21% of the total, the report said. Mismanagement and labor disputes were the next highest rated sources, both scoring double-digit shares.
Enron, which first made crisis news in 2002, ranked as the most crisis-prone business of 2006. It was followed by spying scandal-suffering HP, Microsoft, Wal-Mart, and Northwest Airlines.
Just over half of corporate crises originated with management; less than 30% originated with employees.