Comments

I never comment on these things but your 'pissy mood' has inspired me. No, you haven't wasted your career. Far from it! To hear you venting the anger felt by millions across the world is a terrific and uplifting thing.
Unless more business-folk speak out against the immoral minority business itself will get a bad name.
Your success, I'm sure, affords you many privileges but non more important than the ability to use your wisdom and power to let rip on the foolish. Good on you!

Posted by Andrew McGuinness at November 24, 2008 9:06 AM

I remember a story about two old guys walking along the street and they come across a beggar. One man pulled a note out his pocket and gave it to the beggar. Whereupon his companion said: "Why did you do that? You know that he'll just go off and spend that money on booze or drugs." To which the other replied: "I would prefer that to be on his conscience rather than on mine."

All we can do is the thing we believe to be right. What others do is on their conscience - if, that is, they have one.

Posted by Rob at November 24, 2008 9:08 AM

These guys don't live in a vacuum. They are reflections of the larger culture. Its not just them - its us.

Posted by zed at November 24, 2008 9:33 AM

"make me wonder if I pissed away my life in pursuit of an improbable, or even impossible, ideal?"

Not one second of the last 40 years has been ‘wasted’ on your campaign about "profit through people-centred, people-obsessed leadership"

Literally millions of people worldwide have been moved by your inspiration. Even if it had been one, two or three people that would have been equal cause for celebration.

You MUST keep saying it for the next 40 years minimum. People will ALWAYS be at the centre - technology is brilliant but people have hearts and minds – technology is big enough and cold enough to fight its own battles. People have to be cared for, encouraged, cajoled, loved - and your style gets people signed up to a dream.

Don't beat yourself up. That’s an order … and as you are an ex-military man I expect adherence, needless to say :- )

You cannot control others greed, insensitivity and lack of integrity but it’s not worth giving up having come this far – that is not you.

Posted by Trevor Gay at November 24, 2008 9:45 AM

As it turns out, you have inspired tens of thousands of leaders to pursue something greater than themselves. I keep in mind that the vast majority of us don't work at or for Fortune 500 companies and that the people you speak of are in headline-worthy positions but not actually the engines of commerce to which they are unduly credited. Your work has helped me understand how to lead at a different level. It's why I show up everyday to read your blog and take the time to comment. Your movement is alive, well and helping those of us that are helping run successful companies with honor know that we aren't taking crazy pills.

Posted by David Porter at November 24, 2008 10:11 AM

There is no doubt that we have met the enemy and the enemy is us. What is incredibly disheartening is there used to be shame attached to such self-serving attitudes and those who publicly exhibited such were ostracized. My copy of John Bogle's latest book, Enough. True Measures of Money, Business, and Life, arrived over the weekend. We have to all shout with a loud resounding voice "ENOUGH!" In a democracy such as ours when the masses speak power has to listen. We need to speak with our vote and our purse. We need to accept responsibility individually and collectively and act to change internally and externally.

Mr. Bogle includes a piece entitled "The Great Seduction," by New York Times writer, David Brooks. Mr. Brooks talks about how our country has taken a truly decadent path, destroying much of what had been built upon for centuries. He writes:

"The people who created this country built a moral structure around money. The Puritan legacy inhibited luxury and self-indulgence. Benjamin Franklin spread a practical gospel that emphasized hard work, temperance, and frugality. Millions of parents, preachers, newspaper editors, and teachers expounded the message. “The result was quite remarkable...

"Over 30 years, much of that has been shredded…The institutions that encourage debt and living for the moment have been strengthened. The country’s moral guardians are forever looking for decadence out of Hollywood ad reality TV. But the most rampant decadence today is financial decadence, the trampling of decent norms about how to use and harness money."

I have read no truer words on the subject. The question is what are we going to do about it right now?

Posted by Judith Ellis at November 24, 2008 10:31 AM

We should all be in a pissy mood about giving PAndit, Mulally, NArdelli, et al OUR money to piss away.

Your service to business leaders and aspiring business leaders throughout the world has helped all of us become better leaders and people.

Posted by Jim Outland at November 24, 2008 10:34 AM

How inspirational. But how do we get those in power to listen? And how do we get the consumers to stop reckless consumption? And how do we get our business community to better regulate itself based not only on profit but on community benefit? And how do we all put our own self-interest aside in this time of crisis in our country?

Posted by Janice at November 24, 2008 10:55 AM

Freedom has to be conquered everyday.
Many have learnt to rest on their laurels for so long, that they´ve lost the thrill for real challenges.
In "Mavericks in the workplace" the author says about a "sophisticated communication".
Most populations today don´t really act as an integrated group.

Posted by Gerson at November 24, 2008 11:33 AM

I think the question about working for $1 is a dumb one, as if going from one extreme to the other is a sensible move. It's petty grandstanding by politicians (and some commentators) who are keen to suggest they're in touch with the public mood about exec pay. To repeat a point someone else made recently, would these same public servants trade their perks, allowances and guaranteed pensions...?

More to the point would be to ask if these auto and other industry leaders would be prepared to work for a salary that was capped at, say, 20 times greater than the lowest paid position in the business? And would they agree a transparent way of establishing a bonus pool for all staff, with group and individual targets, but in which they'd be included and with their bonus again capped? I'd be far more interested in hearing someone propose this or a similar scheme.

Posted by Mark JF at November 24, 2008 11:48 AM

While I agree wholeheartedly with Mr. Brooks, decadence is not new to society. In antiquity the Stoics and the Epicureans debated much about modesty versus decadence, taking their cue from society and probably the impetuses within themselves. There exists within us all the ability for both. The question is which impetus will rule most.

Choose this day and every day what you will become a servant of. This is easily decided upon. What are your daily actions? Who do they benefit most? It is always society that acts and leaders who guide. By this I mean that people show through their actions what is acceptable and leaders decide which actions bring about the best results. Leaders do not lead in vacuums. Their guidance comes from the people.

Many of our leaders across many spectrums, including religious circles, have decided that decadence is more agreeable than modesty. This has been their guidance. The power of the message of Jesus is that he did not speak against money; he spoke against the "love of money as the root of all evil" to the exclusion of all else.

The love of money was always a part of society, but fewer people had such wealth. Over these 30 years that Mr. Brooks spoke of there have many more millionaires and billionaires made during any time in history. Decadence expressed through the love of money was always present; it was just a part of secret societies from synagogues, to mosques to churches to corporations.

Jesus exposed such unrighteousness in the synagogues. I hope for exposure of such unrighteousness in the church today. I hope for exposure of such unrighteousness in corporations today. I hope for by far more ethical and criminal charges. I hope for the exposure of such unrighteous usury laws. I hope for exposure of such unrighteousness in government today. (Note: Unrighteousness indicates actions that at misaligned, simply put not right.) The love of money leads to great degradation. We must be refocused. "Where your treasure is," Jesus said, "there will your heart be also."

What needs to happen is that we all must decide in our various personal and professional circles that what is going on is completely utterly unacceptable. Think about it—what do we have to lose? I see no silver lining outside of the necessity of all of us to change in our various communal spaces. We must all decide that we will sacrifice to make right what we have all contributed to, if only through lack of action. Change happens in small circles and is shed abroad; it’s kind of like love.

Love is the more excellent way.

Posted by Judith Ellis at November 24, 2008 12:02 PM

"pursuit of an improbable, or even impossible, ideal"

Um, is there another kind worth pursuing? If it was easy, it would already be done.

Posted by Joel D Canfield at November 24, 2008 12:46 PM

Again, even though it may sound like populist drivel, we’re back to the issue of character. We live in an age that on the whole, values achievement and fulfillment for character and will gladly sacrifice character for it. It’s not a short term fix though, but something we could all begin to reflect on. Bogle’s question, “What is enough?” is probably as good a place as any to start.

Bogle writes, “The trite bromide 'If you can measure it, you can manage it' has been a hindrance in the building a great real-world organization, just as it has been a hindrance in evaluating the real-world economy. It is character, not numbers, that make the world go ‘round. How can we possibly measure the qualities of human existence that give our lives and careers meaning? How about grace, kindness, and integrity? What value do we put on passion, devotion, and trust? How much do cheerfulness, the lilt of a human voice, and a touch of pride add to our lives? Tell me, please, if you can, how to value friendship, cooperation, dedication, and spirit. Categorically, the firm that ignores the intangible qualities that the human beings who are our colleagues bring to their careers will never build a great workforce or a great organization.”

Posted by Michael McKinney at November 24, 2008 1:06 PM

Mark JF has a good point. And, it's not just industry leaders who need to look at their compensation and benefits packages through the 20x lens.

Many public servants and political leaders now have overall packages that are disproportionate to average wage levels. Outside of entrepreneurialism, reward without results accountability seems to be the norm these days.

Posted by Clive G at November 24, 2008 1:13 PM

Tom, Please keep doing what you do so well. There are many of us who do what we do, the way we do it because you have inspired and enlightened us.

As for the bastard scions of industry. These guys have no clue about what it means to really work for the people who work for them and that's part of the reason that they fail while others succeed. And by work for the people, I mean going out and doing the homework necessary to understand what their markets want, why their competitors do it better and how to truly compete. They are the modern robber barons, out to enrich themselves and their little cabals at the expense of everyone else.

Posted by Andrew Hayden at November 24, 2008 1:26 PM

you havent pissed away your life. look at them vs. you; your not a beggar on a learjet. Tom your an inspiration.

Posted by Joseph at November 24, 2008 1:28 PM

The problem maybe that we are now considering going "back to the issue of character." Better this than not. But why have we left it? We have decidedly left issues of character and given way to the baseness of reality this and that. Yes, a lot of this is reality but is this the kind of reality we want to promote? Is this the kind of reality we want our children, the leaders of tomorrow, digesting continually?

It's the small stuff that has gone unchecked that will make the difference in moving forward. The important thing to remember as we progress is how we progress and to whose benefit and demise, presently and in the future. Are your great-grandparents here? What did they leave you? And, can someone please tell me why we are against the populace, who supports the economy, as if they are not a part of We, the People? Why the apologetic notion when such references are made?

Power to the people! We are the People! This power need not have a revolutionary and unruly ring. But it need be resurrected for the acceptance of both our individual and collective responsibility. It need be resurrected for both our individual and collective accountability. The divisiveness and arrogance associated with the populace is repugnant. The populace is us. Perhaps this has been the problem, the disavowing of the populace. Some were expected to act ethically, while others were allowed to perform disgracefully under many professional guises.

"Out of Many, One."

Posted by Judith Ellis at November 24, 2008 2:33 PM

Sitting here in the snow of the midwest, I wondered where the outrage was about the financial institutions leadership. The press was full of people calling for Wagoner's, Mulally's, and Nardelli's heads and for the UAW contract to be broken. But nobody, until now, has called for the heads of Citigroup, AIG, et al..and to pare way back the wages and benefits of investment bankers (geez those words don't sound right together anymore). This is one big stinking mess and I hope the best and brightest are working on it.

A client asked me for my opinion on their pay for performance model today and I was so tempted to tell them to trash it...seems it doesn't work that way in American business anymore. My undergrad degree was built around Soviet studies...thought it to be irrelevant now. But now that we seem to be hellbent on nationalizing the banking industry, maybe it makes sense...state control of industry...hmmmm

Posted by mike Neiss at November 24, 2008 2:45 PM

These "leaders" seem to forget that you aren't successful on your own, it takes a team. Their responses to questions are the very reason that their businesses that are in charge of our failing. They are consuming more than they produce. Value creation should be at the center of all that they do yet when business is doing poorly they feel entitled to the same compensation. I do agree that it's a problem with society as a whole and look forward to our country moving away from this destructive behavior in the future.

Posted by Brandon Allen at November 24, 2008 2:55 PM

Tom, I especially liked your question "Did any of them go to Sunday School?" My father and his father never served in the military, but they put in more than 110 years between them as pastors. From my earliest days, I had it drilled into me that you do the right thing because it's the right thing, without regard to your own vigorish. (I fall short at this all the time, sure, but the concept has helped me make many good calls on tough choices in my life.)

"Real"-world postscript: my father retired from ministry and took up a second career a few years ago. Wanna guess how little time it took him to move up the managerial ladder? Today he holds a senior position in his new profession, in no small part because of decades of practice in (a) treating others like they he would like to be treated, and (b) operating only one way -- "what you see is what you get" -- ALL the time.

Posted by Tim Walker at November 24, 2008 3:11 PM

Mike - "We are all Keynesians now." But this seems to me to include intermittent support and not long-term dependence. This is what I hope at least. The Citigroup package includes some important measures.

Citigroup has agreed to stop dividend payments for next three years and restrict executive compensation. I must admit to being made as hell that $306 billion will back loans and securities, much of which includes bad paper. Another agreement is Citigroup will work with homeowners to keep them in their homes. But this all could have been avoided. Will anybody be indicted?

Based on Barack Obama's economic team, announced this afternoon, it looks like we indeed have the best and brightest working on it indeed. I also hope that they would also consult with Mr. Bogle occasionally.

The outcry for the heads of the auto industry versus the financial industry may have something to do with our very direct notion to our personal financing. What will happen to MY bank account or MY 401K? The jobs related to the auto industry may not have a direct gut response as MY personal cash.

It is snowing intermittingly where I am in Michigan. The color is gray, but spirits are high!

Posted by Judith Ellis at November 24, 2008 3:19 PM

How can you ask for a bailout and yet call yourself an American? Am I missing something?

Posted by Andrew at November 24, 2008 3:25 PM

Andrew - Is your question akin to how President Reagan's could conceivably call himself an American and support intervention? Democracy is about freedom. Freedom includes choice. Choice is about people. People decide. Is this not American?

Posted by Judith Ellis at November 24, 2008 3:36 PM

Tom...

Acting like the true drama queen you are and I must say I love that about you - you pose an legitimate question for yourself....

"Mulally and Pandit and their not insignificant ilk make me wonder if I pissed away my life in pursuit of an improbable, or even impossible, ideal?"

My honest answer is "Yeah probably".

But why would you ever, even for a moment, feel sorry for yourself? You have made good money at your caper, you have worked hard and in the process have became famous and through your speaking and writing your ideals have influenced a lot of people around the world. So get over it.

What are you going to do now? What can you do with your influence and high profile to make sure that America moves confidently forward with a whole set of new ideas and new goals? You have been trying to do that in the Health Care sector and that has been good - what else have you got?

I agree with Zed .... We all (everyone) had a hand in making these corporations and their inept leaders what they are today - they are in part a reflection of the society around them. Isn't it time to shut down these relics of the C20th and move on into the C21st. China, India, Africa, Asia, Middle East, etc are all moving on...

What have you got that is new and bold Tom? You have met and continue to meet or work with some great minds around the world so what can you pass onto your loyal audiences. What can you tell them about the new world of work that might help them to do a better job framing their life and their work than they otherwise would over the next 40 years?

You are looked up to by so many people around the world today - it is your time to stand up and to come up with the goods.

Tom it is time to piss or get off the pot!

Richard.

Posted by Richard Lipscombe at November 24, 2008 3:45 PM

Judith,

No. Democracy is not about freedom, it's about the tyranny of the majority. Please note, we (America) don't have a democracy - at least not yet. Freedom does include choice - but also accountability and responsibility.

And, no. If a bunch of people choose to take away my liberty - that does not make it right - or American.

We have a document, it's called the Constitution. I'm guessing it's been a while since you've read it. It puts strict (or was supposed to) limits on the power of the federal government (take a look at the 10th amendment if you're confused or don't have the time to read the entire document). A crisis does not grant to the president the license to "take whatever measures are necessary."

Posted by Andrew (a different one) at November 24, 2008 3:55 PM

What is so sad about Richard is that he should feel sorry for himself. But he doesn't. The greatest among us always wondered if they could have done things differently; they always wonder if their work had been to naught, especially in times of a tremendous personal or professional crisis. We are in such a time right now. There is a humility here that is admirable.

In such times we all should be wondering if we have failed and how we could be better. Some were surprised to see that Mother Teresa often questioned her faith. I wasn't. It was Christ who when faced with death on the cross asked, "My God, why have you forsaken me?"

If Christ can ask such a question, with all of his magnificence and grace, surely Tom Peters can wonder if he has pissed his "life away in pursuit of an improbable, or even impossible, ideal."

Posted by Judith Ellis at November 24, 2008 4:21 PM

Andrew (a different one) I have read your dissent.

Posted by Judith Ellis at November 24, 2008 4:23 PM

We are forever becoming "a more perfect union."

Posted by Judith Ellis at November 24, 2008 4:28 PM

Tom - I agree with Richard - hilarious posting to perfect your drama queen approach to your "brand".

"Tom takes $1 for talk in Dubai - pays his own way there!"

"TPC staff takes $1 per year in 2009 to promote their ideals!"

That is how to promote your "ideals" - love it!

Priceless & hilarious - thanks for the laughs!

Posted by Ideals at November 24, 2008 5:03 PM

Tom, Imagine how much worse it could be if you hadn't been in the business world? It takes someone of your stature to shame the others hiding in the shadows and call out the ones that crawl out with no shame!

Posted by Joy at November 24, 2008 5:28 PM

"But why would you ever, even for a moment, feel sorry for yourself? You have made good money... have became famous..."

But are you happy?

Posted by Mark JF at November 24, 2008 5:38 PM

Leaders? We don't have no stinking leaders. At least not in any positions that seemingly make a difference in this unbelievable mess we are all in. Paying some of these people $1 a year is overpaying them. We need real leaders in both corporate America and our government(well it doesn't hurt to dream). What we also need is to start taking individual responsibility for our own empowerment and then start letting corporate America and our government officials know we are mad as hell and aren't going to take it anymore. These bastards are all way beyond incompetent. I'm frankly very tired of the Barney Frank, Chris Dodd, Harry Reid and Nancy Pelosi models of politicians who I would never dare turn my back on. As they say, the best government money can buy. Obama is right, we need change but not just change. We need transformation and a real damn revolution to take back our country,and our government and bring back morals and ethics to the management of our corporations. Term limits for all Congress members and a new set of ethics rules with teeth. And give the Government Accountability Office big teeth to reward fraud, waste and abuse with prison time. Greed is not good and neither is egotistical arrogance and our so-called leaders have too much of each and not much more.

Posted by Steve Clayback at November 24, 2008 5:48 PM

Warts and all, America is the lynchpin of the global economy.
(Probably will be for next 25 years.)
Citi is a, not the, lynchpin of the lynchpin.
Still.
Finance is an expectations game.
1% math.
99% individual and group psychology.
Citi fails.
Depression follows.
(Or at least the odds go up unacceptably.)
Hence bailout justified, at almost any cost.
Pump Citi up with a few tens of billions.
Save downside of even tens of trillions.
Globalization threatened.
Bailout awful.
Bailout bodyblow to pure capitalism.
No bailout, possible capitalism knockout.
Bailout "least worst" solution.
Welcome to the real world.

Posted by tom peters at November 24, 2008 6:12 PM

Wow it is amazing to see these numbers in the midst of all the problems and uncertainty in that industry.

Posted by Michael at November 24, 2008 6:15 PM

There is a lot to be said about trying government leadership now - maybe.

I can see treating banking like utilities with government SES $175,000 top pay executives as the CEO's - however.

Banks are supposed to work with government & citizens to make free enterprise flourish. The president makes $300,000 per year not $20M like bankers.

And what we have so far in banking are $50M golden parachutes & 20% credit card rate total rip offs - plus the subprime & derivatives' fiasco that is in midst of a 4 year cycle.

The government let Washington Mutual & Lehman Brothers devolve to worthless penny stocks while supporting Citi, AIG, Goldman Sachs (Paulson & Buffet-Obama) - almost no one trusts that kind of chaotic policy making.

18% approval for Congress, 28% for the president - have faith in yourself & not in those who buffet about ideals in times like these - stay optimist & not declinist depressive.

Posted by Ideals at November 24, 2008 7:21 PM

Sacrifice and Honor.
No one could have been more honorable and
sacrcraficed more than John McCain.
And we could kiss our asses goodbye if he had won the election.

Posted by zed at November 24, 2008 7:45 PM

It seems to me that one of the conditions for rescuing these companies ought to be the removal of the CEO's, particularly Mr Alan "My company is imploding so please give us money and don't take away my $21M salary" Mulally.

It might be good for the US economy to save the 2.5M jobs that are apparently on the line... but I can think of three jobs that do not deserve to be saved.

Posted by The Dan Ward at November 24, 2008 8:00 PM

The condition for any bailout should be to fire those all those CEO greedy bastards and find replacements with true leadership experience. Their "out of touch" perspective is exactly what drove the domestic auto industry into the ground. Who has the balls to turn it around?

Posted by Jose at November 25, 2008 12:45 AM

Jose: What exactly is "true leadership experience"? How would you measure that?

These people are CEOs (just like the Banking CEOs) because Wall Street wants them there. Wall Street is primarily quarterly results driven. Good quarterly results don't equate to good leadership. End of story.

Posted by John at November 25, 2008 3:40 AM

What does it take, when asked, "What did you do the last -- years, to reply "I did my job."

Jay, from Bangalore

Posted by Jayakumar Hariharan at November 25, 2008 4:10 AM

As un-honorable or un-ethical we may regard the behavior of the Detroit-Three and others, hey, that is capitalism, that's the way the system works, has been working and will work in the future. The pursuit of success (=money) and not necessarily excellence is the very engine of this machine. They are not entrepreneurs, they do not run their own company, the are 'only' employees not bearing the ultimate risk of total failure and bankruptcy. Maybe that is where the system fails. Why give someone a $200 Million golden handshake just to get rid of him because he's no good any longer? That is not capitalism, to pay for a service I do not want anymore. In that respect I fully agree with John's comment: the system gets the leaders it deserves.

Posted by Sven Brunssen at November 25, 2008 5:10 AM

Tom,

It seems like you inspired me like may others to repond to your post.

Your significant achievement todate is not reflected in these executives behaviours rather the behaviours of pretty much everyone in america that agrees with you that these guys are out of touch and have failed their companies and the North americian economy.

I have just asked my executve team to take a 10% reduction in their bonus and to reexamine our executive fleet - not because we are laying people off but to show enhanced solidarity with our employee's. They are working hard and deserve rewards proportionaly higher than they are recieving.

Posted by bramster at November 25, 2008 6:12 AM

I keep banging on about this but I'm going to give it another go:

- We all witter on about the bail-out and I guess most people here think (albeit reluctantly) that it's a pragmatic, real-world, 'least bad' solution.

- We all witter on about how terrible it is that all business leaders aren't $1 per year, nurturing, saintly, tech-savvy, philanphropic eco-warriors.

So now we've all had a good whinge, where are the ideas and what are we going to do about it? BTW, whatever happened to "No problems, no progress" and "Test it now"?

Posted by Mark JF at November 25, 2008 7:58 AM

We must embrace and welcome all the sides (or selves) of the humankind. The whole is made of all the parts. And any single individual action has a impact in the system, it actually shifts it.

The behaviors we observe in our days at the top of the organizations...not only at the top...is the impact of previous actions...individual or collective...

The good thing is that now we are becoming aware of this, and can talk about it openly...

It will take...it's already taking...(you are not the only one fighting for people-obssesed-leadership),...many individual single steps aiming to shift the system...

Only "ordinary-leaders" with his/her "ordinary- actions" will make it possible...

...and it's happening already around the world!

Thank you for calling...anew...all of us forth!

Posted by Liberto Pereda at November 25, 2008 7:59 AM

Tom, I agree with your outrage. Unfortunately, this is the image that most Americans have of today's business leaders -- totally out of touch with reality who believe a major inconvenience is having to wait "in line" for their private jet to take off from their private terminal. Let's identify and salute some true servant leaders -- there must be some.

Posted by Tom Byrd at November 25, 2008 4:45 PM

Mark - you ask - "what are we going to do about it?"

How about this for starters?

*All businesses to be driven by principles around people not around money
*Managers rewarded for retaining employees not for profits
*The word 'manager' disappears from business vocabulary to be replaced by the term ‘team member’
*The first 10 percent of all business profits goes to countries that know what real poverty means
*Moaning is banned for all workplaces and instant dismissal for anyone blaming someone else

It late –about 2 am and I’m getting tired … but you did ask :- )

Posted by Trevor Gay at November 25, 2008 8:58 PM

Has the world gone mad???

Tom - Would you work for $1 a year? Really?

Why would anybody at all aspire to a role that pays $1 a year? Maybe a few well off bleeding heart lefties who are in it for love - but not the sorts of people you need to attract to the highest and most powerful industry positions on earth.

Get a grip people... abuse of power is one thing.

Incompetence is another, and something that should be punishable.

But leading executives must continue to receive good wages and packages or their will be no more good executives. (Period! as you say)

Posted by Daryl Mather at November 26, 2008 1:15 AM

Daryl et al, it's a ... gesture, not a rule. One-off, or in this case three-off, not generic. For exceptional circumstances, not the long-term norm. As a way of mitigating the blush-making need to go in front of taxpayers' representatives to ask for public money, not because the saving makes that much difference (although how many times these guys' total annual remuneration would it take to total the $25 billion?). To show their own people they are in this too - in contrast apparently to Citi's boss. Too late now anyway, timing is everything with gestures.

The original post was astutely observing that if you need a big favour from politicians (whatever you think of them) you need to play the game on their terms, "speak" in their language. And these three failed to spot, read, let alone shape, the game. They failed to adapt to circumstances, which is probably what brought them there in the first place. If and when other companies, including TP!, find themselves in the same spot, they too will have to read the mood and adapt. Until then, no, the world hasn't gone mad; good people will still deserve and expect good rewards, and as a successful (I assume) business TP himself doesn't have to work for $1 a pop. Although if you ever do Tom can I put in first bid for your services?

Posted by Rob at November 26, 2008 1:54 AM

Tom,

I answered "no" to all of the questions you phrased in this blog. I'm surprised at how shocked most people are that we're in this mess. I'm surprised at how shocked you are that we're in this mess. Corporate greed and corruption coupled with bailouts and political pork is that much of a surprise? You have worked in executive cultures and corporate America, haven't you?

Once again, we're bailing out companies and not changing the rules or holding people accountable (this wouldn't have anything to do with lobbyist or exorbitant amounts of monies given to political parties?). If you're going to sit back and whine about this, you have wasted your last 40 years. Quit Dropping Almonds (Bach Anon book) and start the change with yourself.

Boo f#$ing hoo is my reply to this blog. Quit being such a baby and be a better leader.

Posted by Scott at November 26, 2008 9:22 AM

NO!

Posted by Nicolò Weiss at November 26, 2008 4:44 PM

They aren't leaders - they are poor quality managers with delusions of grandeur.

Posted by Ryan Curtis at December 4, 2008 12:45 PM