The Best and Worst of Everything 2008

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Rounding Up the Year

As economies imploded, unemployment soared, companies went bust, and so-called experts threw up their hands and admitted they hadn't a clue, one could be forgiven for thinking that 2008 was unremittingly bleak. Not so. Though it's ending on a sour note, the year had plenty of highs that round out the lows. For a reminder, kick back with this BusinessWeek list of the best and worst in just about everything -- from global economics and sports to design and entertainment, from advertising and food to medicine and efforts to go green.

Best Stock Market Performance*

Tunisia

Not every stock market tanked in 2008. As of Dec. 8 tiny Tunisia was the lone market in the black, rising 13% since the beginning of the year. But even it hasn't been safe from the fourth-quarter woes. Since September the Tunindex has fallen from nearly 3,400 to its current level of 2,931.

*According to most recent data as of Dec. 8 from Bloomberg

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Worst Stock Market Performance*

Iceland

While the U.S. stock market has certainly suffered in 2008 -- the Standard & Poor's 500-stock index had lost 38% of its value through Dec. 8 -- plenty of other markets were hammered even worse. The OMX Iceland 15 Index fell 77% on a single day in October and is down 90% for the year.

*According to most recent data as of Dec. 8 from Bloomberg

Ford Motor

Best Car

Ford Fiesta

Yes, it's a Ford. The 2009 Fiesta is the epitome of the kind of cars consumers need now: small, stylish, and fuel-thrifty. In fact, the Fiesta earns up to 65 miles per gallon, thanks to an efficient diesel engine. The catch? It won't make it stateside until 2010, and Ford isn't sure it can make the business case for importing the $25,000 vehicle as is. The carmaker will likely manufacture a gas version for Americans.

General Motors

Worst Car

Cadillac Escalade Hybrid

General Motor's $72,000 Cadillac Escalade Hybrid may be the worst-timed, least-relevant new model introduction in decades. The new Escalade is not without virtues, featuring advanced technology similar to Toyota's Prius which improves fuel economy 50% over gas versions, to 21 miles per gallon. Still, brash, ostentatious, and, well, gaudy, the Escalade makes the very opposite statement GM is trying to peddle as it begs Congress for a bailout worth billions.

Most Satisfying Sporting Moment

Michael Phelps Wins His Eighth Gold Medal at the Olympic Games

There were certainly some heart-stopping moments earlier in Michael Phelps' campaign to beat fellow American Mark Spitz's 1972 record of winning seven gold medals in one Olympic Games. In the 100-meter butterfly race, for instance, Phelps looked down and out, only to win the race by one-hundredth of a second. In the 400-meter freestyle relay, he had to rely on teammate Jason Lezak to steal a victory from the French. Still, the eighth win, in the 400-meter medley relay, proved that dreams can come true. Phelps has taken a break since the Games, perhaps enjoying the $1 million bonus he got from sponsor Speedo for his Herculean efforts.

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Most Anticlimactic Sporting Event

The World Series

The World Series ran into a few problems this year. First, the timing of the games, held at the end of October, clashed with the run-up to the U.S. Presidential election, meaning that viewer attention spans were distinctly shortened. But then the weather played a part, too, with Game 3 delayed by rain and Game 5 suspended for two days. The Series had an average viewership of 13.6 million, a 14% drop from the previous low in 2006. "It was a tough week," acknowledged Major League Baseball Commissioner Bud Selig. Still, the Philadelphia Phillies didn't care. They defeated the Tampa Bay Rays to win their first World Series since 1980.

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