Suddenly, a few of those in power are playing to win and doing so for people other than themselves. Fannie Mae and Freddie Mac have announced a moratorium on foreclosures. In American football we would call this an “audible.” It should have been called on first down instead of waiting almost until they have to […]
Tuesday, November 11, 2008
Comments Off on Survival In Recession: Hard Work for Bright Boys and Girls
The cliff is not only in sight, it is here. What to do? If you have been reading this blog for awhile, you know that each member of my group of business owners and chief executives made contingency plans and took precautionary measures in September 2007 for the storm they saw coming. At year end […]
Monday, October 27, 2008
Comments Off on Financial Crisis: Old-Time Investigative Journalism
60 Minutes did us all a service with some old-time investigative journalism on the financial crisis. First, critical thinking and expert input: derivatives, especially credit swap derivatives, are the culprit. Unregulated, there is no capital requirement to back them up. So they are not unlike bets by a bad bookie. With many trillions of them […]
Friday, October 24, 2008
Comments Off on Derivatives to Live By: The Present Value of Ethics
Sam DiPiazza, CEO of PriceWaterhouseCoopers told a personal story on camera in an interview with a student audience. He related the words of his grandfather who had immigrated to Alabama from Sicily. Young Sammy had done something his grandfather found over the line of ethics. He said to Sam: “Your reputation takes decades to build […]
Countless more ordinary people of equal talent never developed the leadership core required to run the show. Why not?
Friday, November 21, 2008
Comments Off on Good News: Lessons from Sports on the Economy