He's right you know

RaceBannon

I know nobody reads links but still

https://www.newsmax.com/finance/streettalk/carl-icahn-banking-system-capitalism/2023/03/15/id/1112277/

Blueduck

Actually, I do and appreciate them... but having the extra step to leave HH instead of going directly to the hyperlink is annoying.

46XiJCAB

What's the downside to being a CEO these days? You screw up and run your company into the ground and you're reward with millions to hit the bricks. No fear of ending up on the streets looking for your next gig. It leads to piss poor performance. He's right.

PostGameOrangeSlices

46XiJCAB said:

What's the downside to being a CEO these days? You screw up and run your company into the ground and you're reward with millions to hit the bricks. No fear of ending up on the streets looking for your next gig. It leads to piss poor performance. He's right.

Stress.

It's a job few can do well and not work 80 hour weeks

WestlinnDuck

PostGameOrangeSlices said:

46XiJCAB said:

What's the downside to being a CEO these days? You screw up and run your company into the ground and you're reward with millions to hit the bricks. No fear of ending up on the streets looking for your next gig. It leads to piss poor performance. He's right.

Stress.

It's a job few can do well and not work 80 hour weeks

It's been my observation that for most CEO types working is actually their hobby. Working email and the phones and leading meetings is fun for them. Hanging out at poolside reading a novel sounds like hell to them. I agree that lots of them don't do a good job but they love doing it.

Bendintheriver

WestlinnDuck said:

PostGameOrangeSlices said:

46XiJCAB said:

What's the downside to being a CEO these days? You screw up and run your company into the ground and you're reward with millions to hit the bricks. No fear of ending up on the streets looking for your next gig. It leads to piss poor performance. He's right.

Stress.

It's a job few can do well and not work 80 hour weeks

It's been my observation that for most CEO types working is actually their hobby. Working email and the phones and leading meetings is fun for them. Hanging out at poolside reading a novel sounds like hell to them. I agree that lots of them don't do a good job but they love doing it.

I have had the lack of pleasure of calling on/selling to well over a hundred CEO's in my career. From Goizueta, to Jack Welch, CEO of Caldwell Banker, BofA, McDonalds, Wendys, Yum Brands and on down to many CEO's of small town nationwide or worldwide businesses. One thing is consistent: Most are unimpressive and got where they are by sucking the dick of the guy above them. Politics rule the day at that level. You also have the CEO's who started their businesses and most of them think they are God's gift to worldwide industry. That is especially true for the small-town CEO's who invent things like "Snake-Away", or the latest bill changer for vending machines etc. They are king of their small town and act like God because they figured out how to load menthol onto clay particles and keep certain snakes away.

The Goizueta's of the world are truly talented and brilliant. You give them respect after you meet with them because you know you are in the presence of true greatness in their industry. Those guys truly love what they are doing and they die never really having lived a full life outside of business. Welch was 100% GE all the time, after work, before work, there was no off time. He loved it. Super nice guy and his stories were non-stop but they were all about business. Nothing else interested him like that. Then you meet a guy like Nardelli and you realize that he must have been able to suck a golf ball through the head of a needle to get where he was. A complete joke. You lose all respect. The franchisee who took over as CEO of Wendy's when Dave died. He was no more capable of running that company than HH is able to take his lips off of socialist dick. I am not in that realm anymore but when I was I never kissed the ass of these people. The overwhelming majority got there by politicking not successful leadership.

So in my opinion, they love what they are doing. At best about 15-20% are good at what they do and deserve to be in the position. Doing the job to the best of your ability means you have very little life outside of work so you better like it if you aspire to be a CEO.

RaceBannon

I told Howard Lincoln to pay for his fucking carpet at the big table at Nintendo. I was but a lad

46XiJCAB

RaceBannon said:

I told Howard Lincoln to pay for his fucking carpet at the big table at Nintendo. I was but a lad

Well, did he?

Goduckies

Working for Wells Fargo, as a top employee, i got to meet John Stumph a few times... i actually felt bad for him when he got run out, Carrie Tolstead, the VP of the retail bank, no she was a nasty bitch.... and she new what was up, but i don't think he did.

In my interactions with him, he was a very nice man. So even in evil empires they aren't all bad ceo's.

RaceBannon

46XiJCAB said:

RaceBannon said:

I told Howard Lincoln to pay for his fucking carpet at the big table at Nintendo. I was but a lad

Well, did he?

He did

My response became a company standard

He was saying he could see the seams. I asked him if he was wearing an expensive suit. He said yes. I said I can see the seams. Textile goods bro

Game over

WestlinnDuck

Warren Buffett is 92 and I think he still puts on a suit and goes into Berkshire Hathaway's Omaha office full time. He has some outside interests, bridge and sports but he will never retire until incapacitated. Investing is his life.

Blu82

After I took a company public I departed as soon as law allowed. I despised corporate culture and I didn't need any more money.
I sold 90% of my stock as soon as was legal.
For me to continue would have only been driven by ego.
Not my style.
I haven't looked back and I have no regrets.
By observation, it appears that many others should follow this path. Just my opinion.