179-181). Revenues were going down, but Glucksman refused to cut costs, something potential buyers noted. The infighting was the topic of a Fortune article, and many believed that Peterson had leaked it (p. 184). Many at LBKB feared that the article would lower the company's sale price. Even several years after these events, after Shearson/American Express bought LBKB, former partners of LBKB could not agree on what caused the tremendous losses of income that made the sale of their company their only option. They did not acknowledge the company's failure to streamline its expenses, and different factions still finger-pointed to other departments (p. 196). Ultimately, the collapse and sale of LBKB was...
Both men who led the company at the end -- Peterson and Glucksman had significant business strengths and significant personal weaknesses, and the company maintained a culture of individualism that led to infighting rather than teamwork. That sense of individuals working for themselves, undoubtedly supported by the company's partnership structure, also encouraged the excessive spending for perks such as lavish entertainment allowances and free cigars in the partners' dining room. The company failed as a whole because the individuals could not work together.
Gilgamesh/Jesus The Mesopotamian myth story of "Gilgamesh" and the Gospel of John in the New Testament are both stories of men, part God and part man, whose journeys lead them far across the Earth. Their trials are somewhat similar, yet their outlooks are very different. Gilgamesh, the protector of his people, and Jesus, the prophet of his people, may have lived differently, had they existed in the other's time. However, assuming
The reason for this is quite simple: it is more than sure that, in the case Lehman manages the buyout, the former management will no longer have a place to work in. The stockholders do not enter the equation, but do negotiate the price of their shares. The interesting aspect is the way Lehman can come up with a sum large enough to cover all of the stockholders' financial demands.
Fannie Mae Scandal Fannie Mae is the second largest government sponsored U.S. financial institution engaged in mortgage finance after Citigroup Inc. An investigation lasting for eight long months by the Office of Federal Housing Enterprise Oversight or OFHEO revealed massive manipulation of earnings that have been engineered to fulfill Wall Street expectations and smooth volatility in earnings from one quarter to next quarter. The revelations deserve quick corrective action announced by
La Parure "The Necklace" by Maupassant French author Guy de Maupassant is considered one of the greatest French short story writers. Maupassant wrote more than 300 short stories, six novels and three travel books until in 1891, when he went mad. Maupassant's tales were dark and ironic, he portrayed the bourgeoisie life of Paris and his characters were unhappy victims of their greed, desire or vanity. What was most remarkable was
Outrageous Salaries of Chief Executive Officers When Gordon Gekko, in the movie 'Wall Street' told the shareholders of Teldar Paper, "The point is, ladies and gentlemen, that greed...is good. Greed is right. Greed works. Greed clarifies...captures the essence of the evolutionary spirit...and greed will not only save Tedar Paper but that other malfunctioning corporation called the U.S.A.," many corporate executives must have been listening and took it to heart (Wall pg).
THE PEOPLE BEHIND THE RISE AND FALL OF ENRON Kenneth Lay being one of the pioneers of Enron from its establishment in 1986, had lead the way of Enron's emergence as one of the leading company in the U.S. And eventually to its collapse and declaration of bankruptcy on December 2001. Kenneth Lay held the position as the CEO and chairman of Enron from 1986 to January 23, 2002. Lay is
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