|
Citi's Pandit among 20 worst ever CEOs
Thursday, April 30, 2009,
siliconindia news bureau
|
|
|
|
|
|
|
|
Success Stories |
|
 Mumbai Muslim girl takes Urdu route
to IAS:
Sarah Rizvi has done her bit to issue a blow to the stereotype of
the Muslim woman, moderately educated and socially subjugated,
ensconced...Read
Full |
 From Amroha To The Moon:THE
ENTRANCE to Chaugori Mohalla, a small Muslim locality in Uttar
Pradesh’s Amroha town, abou...Read
Full |
|
 Madrasa
student cracks UPSC:
At a time when eyebrows are being raised on the kind of education
being imparted in Madrasas across the country, a Maulana from the
Darul-Uloom....Read
Full |
|
 The
Success Mantra :
Honesty top in the
list:
In the first ever one-o-one interview
after the results, Qaiser spoke in length exclusively with ummid.com
about his success mantra.....Read
Full
|
|
 A
Trip to Globe on Handcart:
There are few in
this world who are recognized by the good deeds. Bhavarlalji Jain, of
course, is one among
the coveted few....Read
Full
|
|
 A Towering Entrepreneur:
Exporting to other
countries requires a very special and quality product line. But if
Rajnikant Kothari has
succeeded in...Read
Full |
A Marketing Legend:Sometimes
back in 1997, people, all over the country, were struggling to get the
auto rickshaws unless they pay the heavy...Read
Full |
|
|
|
More on Ummid |
|
 Contribution
of Madrasas: In such a scenario Madarsas have played a
much-needed role in educating the country's minority group Muslim
youth. No government programmes or schemes have succeeded as much as
Madarsas and Maktabs in making people literate. Thus religious...Read
Full |
|
Getting Ready for The Modern World:
"A
Muslim holding the Qur’an in one hand ceases to be a Muslim if he
holds a bomb in the other”, said Prof. Akhtarul Wasey quoting from
Maulana Abulkalam Azad’s famous speech. Prof. Wasey, who is HOD...Read
Full |
|
AMU opens door for Madrasa
Graduates:
Aligarh Muslim University (AMU) has
expedited its efforts to provide an opportunity for graduates of
religious Madrasas to get admission in the university for further
studies. In this connection...
Read Full |
|
|
|
|
|
|
|
Even More... |
|
 'Give
the Indian Muslims ten years of
peace':
True, the
Government initiatives, schemes and policies take time and if they are
related to Muslims...Read
Full |
|
 ‘Advising
Restraint, work for the Revival of the Community’:
We should advise the Indian
Muslims for observing total restraint so that the Anti-Muslim...Read
Full
|
|
 Will
Indo-Pak peace bring peace to
beleaguered Indian
Muslims? While
the secretary-level talks between India and Pakistan has...Read
Full |
|
|
|
|
New York:
Citigroup's India-born chief Vikram Pandit has been named among the
20 worst ever CEOs in the American history, but sitting on the top
in this segment is bankrupt Lehman Brothers' Dick Fuld.
These 20 include 'six men who helped make today's economy stink',
said the business magazine Conde Nast Portfolio which compiled the
list of America's 20 worst ever CEOs. The list identifies the
business 'leaders who helped drive their companies into the ground.'
Dick Fuld, the topper in the list, had led Lehman Brothers to
bankruptcy and marked the epitome of the current global economic
crisis. "Pandit did not create the mess Citi is in, but his role in
the company is equivalent of the Titanic's Edward Smith - a
commander ill - equipped to save his ship," the magazine said. He
has been ranked last at 20th position in the list, which also
includes troubled insurer AIG's Martin Sullivan and failed
investment bank Merrill Lynch's Stan O'Neal as also computer giant
HP's former chief Carly Fiorina, Enron's former chief Ken Lay and
bankrupt telecom firm WorldCom's Bernie Ebbers.
"When Pandit took over, Citi was already on track to report
write-downs and increased credit costs of $20 billion. Today, the
banking supermarket is propped up by $45 billion in bailouts and is,
in effect, owned by the U.S. government," Conde Nast Portfolio
noted. It noted that Pandit's current salary was one dollar, but his
"pay package was valued at $38.2 million for 2008, a year when
taxpayers kept the firm in business."
Conde Nast Portfolio determined the rank after consulting a panel of
professors from business schools like MIT Solan School of
Management, Tuck School of Business, Wharton School, University of
Chicago Booth School of Business, Yale School of Management and
Kellogg School of Management.
Apart from Fuld, the top five include Angelo Mozilo of Countrywide
Financial, another victim in the current financial crisis which was
acquired by Bank of America, Enron's Ken Lay, Bear Stearns' Jimmy
Cayne, who was reportedly playing bridge when two of his company's
hedge funds collapsed in July 2007 and WorldCom's Bernie Ebbers.
These are followed by Al Dunlap (known as a business downsizer and
headed firms like Scott Paper and Sunbeam- Oster), Fred Joseph (who
oversaw plunge of once-Wall Street marquee Drexel into bankruptcy in
1990), Jay Gould (a 'robber baron' who made a fortune in 1800s by
pushing up gold prices and prompting a scare in stock market), NCR
Corp's John Patterson and IBM's John Akers in top ten.
Others on the list include Carnegie Steel's Henry Frick (11), AT&T's
Bob Allen (12), General Motors' Roger Smith (13), Apple's CEO
between 1983-93 John Sculley (14), AIG's Martin Sullivan (15),
former Time Warner chief Gerald Levin (16), Home Depot's Bob
Nardelli (17), Merrill Lynch's Stan O'Neal (18), HP's Carly Fiorina
(19) and Citi's Pandit (20). |
|
Ummid.com is part of
Awaz
Multimedia & Publications
providing World News, News Analysis and Feature
Articles on Education, Health. Politics, Technology,
Sports, Entertainment, Industry etc.
The articles or the views displayed on this website are for public
information and in no way describe the editorial views. The users are
entitled to use this site subject to the terms and condition mentioned. |
Comment on this article
