Thain's Undoing: Thinking He's Worth It [View article]
Prudentinvestor, you'd like what Carl Icahn has to say about corporate governance reform at www.icahnreport.com/ .
On Jan 25 02:25 PM prudentinvestor wrote:
> You ask: "How could someone so smart, make these poor decisions? > And if it can happen to Thain, who will be the next golden CEO to > drop? How can you spot the next smart executive to fail?" > > Are you sure that Thain, or so many just like him on Wall Street, > are really that smart? They've certainly used the media to indoctrinate > us that, because they are "the smartest guys on the planet", they > each deserve the pay of a thousand doctors, or thousands of scientists > or engineers. > > Aggressive, yes. Manipulative, yes. Self-promoting, yes. Charismatic, > maybe. But smart? If they were even remotely deserving of this adjective, > we would not be in this situation. > > Amongst the many items of reform we need, is new regulations for > corporate governance of publicly-traded companies. This has deteriorated > and allowed incompetents to destroy many of our greatest companies.
Thain's Undoing: Thinking He's Worth It [View article]
"One thing's for sure: If you're a company insider and you hear about a big corporate office renovation, starting looking for work and start selling your insider stock right away." Some inside positions are subject to lockups, so check with your financial adviser first.
BTW a lot of these "revelations" about Thain are sourced from close to the top at BofA, so the PR campaign to save Ken Lewis' job is in full effect.
Thain's Undoing: Thinking He's Worth It [View article]
On Jan 25 02:25 PM prudentinvestor wrote:
> You ask: "How could someone so smart, make these poor decisions?
> And if it can happen to Thain, who will be the next golden CEO to
> drop? How can you spot the next smart executive to fail?"
>
> Are you sure that Thain, or so many just like him on Wall Street,
> are really that smart? They've certainly used the media to indoctrinate
> us that, because they are "the smartest guys on the planet", they
> each deserve the pay of a thousand doctors, or thousands of scientists
> or engineers.
>
> Aggressive, yes. Manipulative, yes. Self-promoting, yes. Charismatic,
> maybe. But smart? If they were even remotely deserving of this adjective,
> we would not be in this situation.
>
> Amongst the many items of reform we need, is new regulations for
> corporate governance of publicly-traded companies. This has deteriorated
> and allowed incompetents to destroy many of our greatest companies.
Thain's Undoing: Thinking He's Worth It [View article]
BTW a lot of these "revelations" about Thain are sourced from close to the top at BofA, so the PR campaign to save Ken Lewis' job is in full effect.