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Momma, let your babies grow up be executive management

Discussion in 'Sports and News' started by poindexter, Mar 6, 2008.

  1. Ben_Hecht

    Ben_Hecht Active Member

    Given what the sack of shit DIDN'T accomplish, his walking figures to be a constructive good.

    Addition by subtraction.
     
  2. PeteyPirate

    PeteyPirate Guest

    No argument here. But in order to get the best guy available as his replacement, you can't punish him for the write-downs.
     
  3. jgmacg

    jgmacg Guest

    It's useless, poindexter. What you're seeing here is the product of our postmodern American cult of the CEO. Persistent since it began during the Reagan years. They're heroes!
     
  4. Birdscribe

    Birdscribe Active Member

    Did you read this back before you pushed "send"?

    This is the most asinine thing posted on this board to date.
     
  5. poindexter

    poindexter Well-Known Member

    Let Killinger go. A brick attached to a roper on the end of a stick can produce better results.

    You vastly overestimate the competency of these people. Vastly.

    Evaluate the next CEO at that time, based on goals set at his hiring.

    If you haven't been reading the business section, all of these banking and finance CEOs are for absolute shit. Easily and completely replaceable at a fraction of the cost.
     
  6. PeteyPirate

    PeteyPirate Guest

    They're not heroes. They're employees. Very highly paid employees, yes, but no less susceptible to the same economic motivations that drive the entry-level sales guy.
     
  7. PeteyPirate

    PeteyPirate Guest

    I didn't say the guy was competent. I said the company would be foolish to tie his goals this year to the already-planned losses.
     
  8. Uh, I would say the economic motivations of the new guy working on commission would be a tad more intense and powerful than they are for the golden-parachute crowd.
     
  9. poindexter

    poindexter Well-Known Member

    They have already-planned losses that haven't been announced publicly? The SEC would be very interested in hearing about that.
     
  10. jgmacg

    jgmacg Guest

    Same economic motivations?

    Their compensation is hundreds of times that of their employees. Hundreds. You're defending performance bonuses for CEOs at companies they brought to the brink of collapse.

    It wasn't always that way. Go back to the dreary days before the Reagan savings and loan orgy, or the deification of corporate-welfare buccaneers like Jack Welch.

    They're heroes! The last cowboys!
     
  11. PeteyPirate

    PeteyPirate Guest

    Also, they're not all shit. The CEO of my bank is pretty good. Our earnings were up 60 percent last quarter (BofA -98&, Wachovia -95%), and our write-downs were close to nothing in subprime, because we don't lend to people who can't pay it back.
     
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