Second chances for companies?

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Hey folks, relatively new to the forum but I have a question that I wanted to ask you. Nowadays everything seems to be documented for all eternity. We have had some companies that have made catastrophic mistakes (Ocean Marketing comes to mind) that will never get a second chance in their industry.

I guess my question is whether you will ever work with a company that has had bad reviews in the past or whether you would always let that determine what you do. One of my recent examples has been DotBlock, which received some less than stellar reviews before on these very boards, but has since taken a completely different approach.

Do you think that companies actually change or do you think that people make a mistake in the Internet age, they are essentially never going to get a chance again (unless they repackage themselves under a different name I assume).