The Best and Worst of Everything 2008

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Best Stunt

Steve Jobs' Manila Envelope

Admit it. Whether you're a PC or a Mac, Steve Jobs reaching into a manila envelope and drawing out the MacBook Air last January was a pretty smooth move. Apple doesn't break down specific sales, so it's difficult to know exactly how well the Air's been selling, but the launch certainly ignited renewed discussion about ultralight computers. Even nine months later, competitor Dell put out a me-too, manila envelope-inspired video on the Web.

Worst Decision

Flying Private Jets to a Bailout

Note to CEOs: If you're heading to Washington to ask for $25 billion in taxpayer money, you might want to think carefully about how you get there. Somehow Rick Wagoner of GM, Bob Nardelli of Chrysler and Alan Mulally of Ford all seemed to think that private jets would work. Until the uproar from government and consumers alike -- and their request for a bailout was rejected. Second time round saw Mulally and Wagoner heading south from Detroit in a Ford Escape and Chevy Malibu, respectively.

*Year-over-year for Q3 2008, as reported by Bloomberg on Dec. 8

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Surprisingly Successful Product

Compact Fluorescent Lightbulbs

Last December, Congress passed the Clean Energy Act, an energy bill setting stringent standards that will see the phasing out of traditional incandescent lightbulbs by 2014. Despite the fact that many consumers grumble about the unforgiving light quality of the more efficient compact fluorescent bulbs, 2008 was the year of the CFL. According to the Energy Dept., lighting accounts for one-fifth of U.S. energy consumption and some $37 billion spent annually by businesses and consumers. Expect to see much more innovation and experimentation in designs incorporating CFLs in years to come.

Chumby

Most Disappointing Product

Chumby

Designed in part by Apple alumni, Chumby held much promise for a widget and Internet app-filled age. Essentially a cross between a clock radio, a Beanie Baby, a digital picture frame, a handheld game, and a Wi Fi-enabled Internet "appliance," it sadly failed to deliver a useful or even user-friendly experience. The difficult-to-use control panel, primitive touchscreen, lack of battery, and steep $180 price tag coalesced into not much more than an expensive, squishy clock radio.

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Country with the Lowest Inflation*

Germany

The countries with the lowest increases all saw their consumer price indexes rise less than 2% last month. In Germany prices rose 1.4% in November -- the smallest year-over-year increase in more than two years, down from October's reported 2.4% increase. That drop -- the biggest in at least 12 years -- is due in large part to falling oil prices. Because Germany's economy is the largest in the European Union, economists expect inflation rates in other euro zone countries to follow suit.

*Year-over-year increase in consumer price index in Oct 2008. or Nov. 2008, as reported by Bloomberg on Dec. 8

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Country with the Highest Inflation*

Venezuela

Venezuela's 32.7% increase in the consumer price index for November is well above the next highest-ranking country, Pakistan (which came in at 25% inflation for the month.) Even so, the rate trailed the 33.1% anticipated by a mid-November Bloomberg survey of eight economists. Before this year, the oil-rich South American nation last saw inflation spike above 30% in 2003. In 2007, Venezuela had the highest inflation rate in the Western Hemisphere and economists are forecasting the trend will continue into 2009.

*Year-over-year increase in consumer price index in Oct 2008. or Nov. 2008, as reported by Bloomberg on Dec. 8

Most Hopeful Drug Advances

FDA Reform

The U.S. Food & Drug administration took the first tentative steps toward adopting a more rational approach to new drug approval in 2008. The change stems from the realization that most experimental drugs are likely to produce dangerous side effects for some patients. Instead of denying approval for those drugs because of safety worries, the idea is to attach stringent requirements so that the drugs will be reserved for people who are most likely to benefit. This would be determined by a variety of diagnostic and genetic tests and an analysis of family history -- along with a clear understanding of which patients need them the most. The downside for companies: There will be far fewer blockbuster drugs taken by millions of people.

Bitterest Pill

Obesity Drugs

Right through 2008, some major drug companies were pinning their hopes on a new class of drugs that would curb obesity by damping down so-called canabinnoid receptors -- the same channels in the brain that give marijuana users the munchies. From the beginning, there were warning signs that these products could induce suicidal urges in patients. As such evidence mounted, Sanofi-Aventis pulled its pill, Acomplia, from the market, while Pfizer and Merck quietly folded up their clinical trials on similar products.

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