The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Think4Yourself who wrote (187062)	2/27/2009 4:23:06 PM
From: endless	Read Replies (1) of 306849

"That decision by Ken Lewis, along with his failure to renegotiate the deal when he had the chance, ensures his name will be in every finance textbook for the next 30 years. Unfortunately for him it will be an example of inept CEO's." I will take this opportunity to share some of my personal observation and opinion FWIW. As I mentioned before, I was employed in big banking. A number of people I worked with during that time have moved into top executive positions. My best friend at the time married one. I have not stayed in touch. They live in Charlotte, we moved to LA. What struck me as I watched their career is the fact that I could not consider these guys extremely bright or intelligent. - They were not dumm, they were hard working, perhaps driven, they were good sales people and politically savvy. But there was nothing that suggests any extraordinary gift or quality. ..An forget about their contribution to society, that doesn't fit the paycheck either, certainly nothing that would justify these lavish compensation packages. LOL! P.S. I suspect this is probably true in other industries as well.

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