Judging by the comments, it seems many of you share my interest in understanding the recent economic news, at least Juha does. So I will continue covering that. Yesterday, my brother Carlos, who works for BNP in Europe sent me this story: Apparently we are seeing a dumping of US related assets by what is speculated to be... the Chinese. . Forget the computer attacks, Asia's sovereign funds dumping US assets would have a real impact on the economy. Credit and liquidity crises are not new and, when they turn bad, they turn bad. In 1929, the liquidity scare sparked a bank run. Banks didn't have enough cash and were defaulting, accelerating the mad dash and "bank-run" to get your money out while there was still liquidity. Then, the real economy wound up with no credit, and we all know the sad story from there. 2007 isn't like 1929. It isn't an "end-consumer" bank run. You and I are not going to the corner bank to take our savings out. Our confidence ...
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Given the recent BEA drama, do you think Icahn is in contact with Oracle at all?
I was somewhere on-par with the guy that would come in every month and restock the paper-clips and pencils.
he, I think the Peter's principle is a more general rule that says "you get promoted until you can't get promoted further". It is a systemic argument whose conclusion is that companies overtime will reach a paralyzing steady state with incompetence at every level.
You can deal with the Peter's principle with rules such as layoffs in the bottom 20% or dynamic HR policies that make sure no one gets too entrenched.
Icahn quote is more narrow and focuses on the damage a "dumb" CEO can do to his own organization by the necessity of his own survival. It is a chilling picture.
sorry I lifted that from an argument that didn't source this. Also I am too lazy to use google, my arms are tired.
Seriously though, I think that part of being a good CEO is letting people who are good at their job do their job. Get the best out of them, don't fight it. I never really had anything to tell a guy like "Rob Bearden" if you know what I mean.
I view this statement as more of a variant of the "David Skok" rule of people in startups:
"A players attract other A players, B players attract C players".
This statement is narrowly defining "B players WANT C players around them" which usually results in broken cultures.
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