Boiling Blood
I came across two stories in recent days that make my blood boil. One even used the term. The first was from the Planet Money blog and pointed me to Joe Nocera’s NY Times column. He talks about the AIG mess and how the company has to be kept alive: And yet — and this [...]
Citigroup Survives Management Failure
The New York Times is reporting that the government has approved a plan to “stabilize” Citigroup. MarketWatch also has some details. The plan includes a $20 billion cash injection via preferred stock with an 8% dividend. The government also gets to approve executive compensation, but I repeat, how do these folks deserve anything other than [...]
Citigroup: Another Management Failure We’ll Rescue
Citigroup has been in the new recently, since they announced that they’ll eliminate another 52,000 jobs, on top of a previously announced 22,000. Citigroup had a peak employment of 375,000 in 2007 so 1 out of 5 Citigroup emloyees have been affected. According to news reports about 1/2 the reductions will come from business sales. [...]
Shocked! We Were Shocked!
The New York Times has an article about events, policies and actions leading up to the failure of Fannie Mae. They put the quote that stuck in my craw right up front: “Almost no one expected what was coming. It’s not fair to blame us for not predicting the unthinkable.“— Daniel H. Mudd, former chief [...]
Failure to Lead
One thing became apparent during the debate. No one in the House or Senate is a leader of the country. Nancy Pelosi decided she wanted to be a party leader at the last minute and decided to embarrass the republicans in a speech. Rather than rising above the rhetoric the republican’s feelings were hurt and [...]
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