At Merrill Lynch, two Harvard MBAs in succession, Stan O'Neal and John Thain, oversaw the fall of a firm once known and feared as the Thundering Herd. Andy Hornby, who was on deck for the HBOS's near-collapse, is a Harvard Business School alumnus. General Motors' CEO Rick Wagoner is another. Up until last month, President George W Bush, Treasury Secretary Hank Paulson and the Securities Exchange Commission chairman, Christopher Cox, formed an embarrassing Harvard Business School trinity of financial ruin.
Harvard rulz!
How come this supposedly brilliant elite, trained in management, risk and reward, have so devastated the economy? Part of the reason is that the MBA does not actually train anyone to do anything. You learn something about all the various business functions. You become more confident in meetings where people yammer on about ROIs and Monte Carlo analyses.
It's all AA's fault!!
Thursday, February 26, 2009
Subscribe to:
Post Comments (Atom)
Posts
4 comments:
If it means I get to live like a Madoff, then I accept full responsility!
If places such as Harvard Business school had made them pay as much attention to 3-Card Monte as to Monte Carlo, they'd and we all probably be bet-ter off.
You teach them there at the Hahvahd Business School Monte Carlo simulation? How do you simulate Madoff mad jaddery and mullah machinations?
I took the El only once -- when going from Chicago to O'Hare. The view reminded me of the South Bronx.
Yup, a charming wasteland. Perfect for toughening and sobering the Harvardenahs
Post a Comment