U.S. CEOs Could Learn From Their Asian Counterparts
Started Dec 25 2008 at 4:45AM (EST) (By MoneyMorning)
Judging from recent reports that JP Morgan Chase & Co. (JPM) Chief Executive Jamie Dimon and Citigroup Inc. (C) board member Robert W. Rubin will forgo bonuses this year, it appears that at least some U.S. executives are starting to change their habits, as we’ve long suggested they should.
http://www.moneymorning.com/2008/12/23/us-ceo/
http://www.moneymorning.com/2008/12/23/us-ceo/
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3 Comments
Top 2%
blacktuna
Dec 25 2008 at 10:39AM (EST)
Bonuses should be based on the balance sheet, not stock price.. no doubt.
Top 24%
bhanukir7
Dec 25 2008 at 11:53AM (EST)
it has been long overdue that the us counterparts should learn the way the world behaves, whether be it spending company dollars or enjoy company dollars. all along they have tried to smudge the balance sheets to project that "we are doing wonderful business"
they should realize the fact that they have to compete with the Asians business strategies and Asian business principles.
I am not saying this because i am an Asian, its more to say about Business principles, Business is all about trying to outwit your opponents, American business has been the absolute leader in pioneer in how to maximize business but its time to deliver consistently, where the American industry flatters.
American Automobile companies never bothered to work on fuel efficient cars thats the reason why you find GM and Ford in the red.
Business is all about enjoy the best and prepare for the worst.
Hope they understand this and work towards greater efficiency and a better world.
As American industry holds the key to worlds success.
Top 2%
blacktuna
Dec 25 2008 at 12:15PM (EST)
I think you are right.. the western culture is a me me me culture.. we need to depend on each other more show more respect to our fellow citizens.