October 15, 2009 by jim
Calvin Trillin explains.
James Kwak expands:
Technology firms also face a similar problem. In technology, as in most businesses, the way to make it to the top is through sales, so you end up with a situation where the CEO is a sales guy who has no understanding of technology and, for example, thinks that you can cut the development time of a project in half by adding twice as many people. I have seen this have catastrophic results. Even when you don’t have the generational issue that Trillin talks about, the problem is that the sociology of corporations leads to a certain kind of CEO, and as corporations become increasingly dependent on complex technology or complex business processes (for example, the kind of data-driven marketing that consumer packaged companies do), you end up with CEOs who don’t understand the key aspects of the companies they are managing.
Category: EconomyComments (0)
December 20, 2007 by jim
Part of the why we are fucked series:
The next president will have to deal with yet another crippling legacy of George W. Bush: the economy. A Nobel laureate, Joseph E. Stiglitz, sees a generation-long struggle to recoup.
Full article.
Category: Economy, PoliticsComments (0)
May 19, 2007 by jim
Category: Economy, PoliticsComments (0)
February 21, 2007 by jim
Chalmers Johnson is an author and professor emeritus of the University of California, San Diego. He is also president and co-founder of the Japan Policy Research Institute, an organization promoting public education about Japan and Asia. He has written numerous books including, most recently, three examinations of the consequences of American empire, Blowback, The Sorrows of Empire, and Nemesis: The Last Days of the American Republic.
Listen to Sam Seder interview Johnson about his latest book (9mins, 45 seconds)
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Category: Economy, PoliticsComments (0)
November 12, 2006 by jim
In the next few months, a financial crisis will arise somewhere in the world which will jolt the American economy and trigger a swift and precipitous decline in the value of the dollar.
There is nothing accidental about the crisis we'll soon be facing. Officials at the Federal Reserve and the US Treasury are fully aware of the devastating effects of massive trade deficits, increasing the money supply, and self-serving interest rates manipulations. They have set the country on the path to ruin as part of a broader scheme for remaking the global-system according to well-known precedents. In truth, the plan to modify the present system has a long history; going back to the 1980s when many of the same actors in government today were in positions of power in the Reagan administration. For the last 6 years they have been patching together their strategy; producing record deficits, unfunded tax cuts, mammoth government expansion, and doubling the money supply.
How can anyone argue that they did not understand the implications of their actions?
Read the full article
Category: EconomyComments (0)
