JJC:    The world is full of CEOs who are merely bad... who don't know what they're doing... who bumble through life, running their companies incompetently... not really doing a lot of harm... not doing much good either...

But then there's the special kind of CEO... the Chief Executive Officer who makes a decision that is so bad, it tarnishes his entire reputation... not to mention it crushes the value of his, and perhaps your, stock...

And for these special destroyers of value... these leaders who, if we didn't know better, we'd suspect were hired by the competition to wreck the companies they're running, we have the Mad Money Wall of Shame...

Tonight, I'm adding a new face to the wall... and that new face is... James Keyes. That's right, James W. Keyes. He's the Chairman and CEO of Blockbuster Inc. (BBI)... because of his horrific plan to buy Circuit City (CC). I used to think that this man was a fabulous CEO... a tremendous turnaround artist... but, in one fell swoop, this guy has managed to take his stock down 35%!... while the RTH - the retail holders index - was flat in the same period...

BBI was doing great!... I'd recommended the stock at $2.72 on March 7th... The company was doing a great job of turning itself around, because of James Keyes... A terrific strategy to compete with Netflix, Inc. (NFLX) and video on demand of all stripes... BBI was paying down debt, and they brought in a CEO with experience from 7-Eleven... The company was cutting costs, raising prices, making BBI more than just a place to rent movies and games... a place to buy movies, shows, games...

The turnaround wasn't just working... it worked. And then, with one bad decision, the decision to buy CC, Jimmy Keyes, who'd done such a fabulous job turning around Blockbuster, totally wrecked the stock...

We had a 15% gain in BBI as of April 11th... before the company announced its bailout... I mean takeover... of CC, on April 14th, instantly sinking the stock. It's now $2.52. It is down 24% from where it was before this ludicrous takeover...

This stock would be so much higher... the perfect turnaround story... if not for this abomination of a deal that's holding it back... I think BBI would be at $5 bucks, had he not done this deal... and he can still double it by pulling the deal tomorrow, right in the face of the annual meeting of CC shareholders.

I think the meeting will be an embarrassment but, if Keyes does the right thing and scuttles this deal, he will be off the Wall of Shame, and BBI's stock, I believe, will be off to the races...

If he doesn't drop the bid, then BBI better fire him, and get someone else to undo this nonsense...

What a waste... He was doing such a great job... and now his face adorns the Wall of Shame.

This deal makes the least sense of any I've seen in recent memory, which is pretty much saying something. CC would be going out of business, I believe, of its own devices... and here's BBI paying an outrageous premium for the company, when they should have just let it die.

This is like a government bailout of CC, not an acquisition. BBI's shareholders have spoken loud and clear... I don't think Jimmy Keyes is hearing them... Yes, he's Gollum in Lord of the Rings... I'm not listening... I'm not listening...

Can anyone explain how this deal makes any sense? I know I can't. I know Jimmy Keyes can't either.

How does it makes sense for Blockbuster to sell PDAs from Circuit City, and for Circuit City to sell digital downloads from Blockbuster? These are two entirely different companies... two different models... two different businesses. So there really are no cross-selling opportunities, not to mention the lack of cost-cutting opportunities that usually come with a merger...

Let me invoke a great Bond movie... Blockbuster should live, and let Circuit City die...

I told you to get out (of BBI) at its 52-week high. Now the stock's at a 52-week low... I think we here at Mad Money know the stock better than the CEO and, if he would just listen to us and stop this nauseating bid for CC, I'd pull him... I'd take him right off the Wall of Shame, because he's been an otherwise fabulous CEO...

.  .  .  .  .