From Urban Dictionary via Fake Steve:

Vistaster n. a giant cluster-fuck; a colossal mistake; a turning point, inflection point, or event that, in retrospect, turns out to have led to the doom and demise of a once-powerful company, person or organization.

DERIVATIVES:
vistastrous. adj.
visastrously. adv.
“Have you seen Speed Racer? It’s a total vistaster.”

I think it’s about time to start using this term, so that hopefully it goes mainstream and becomes a new word.

On a related note, Festivus still isn’t in Websters Dictionary. It’s not in Thunderbird’s spell check either. That’s another word I’m lobbying for.