Comments on: Who’s On The Board At Big Banks? Not Bankers http://weakonomics.com/2009/05/26/whos-on-the-board-at-big-banks-not-bankers/ Everything That's Wrong With You And Your Money Sun, 14 Mar 2010 12:54:48 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Bank Gal http://weakonomics.com/2009/05/26/whos-on-the-board-at-big-banks-not-bankers/comment-page-1/#comment-2290 Bank Gal Thu, 28 May 2009 03:17:34 +0000 http://weakonomics.com/?p=2058#comment-2290 Hey Philip! I really enjoy reading your blog, even though I only discovered it a few days ago. I also work for a very, very large bank (I have a feeling we work for the same company, actually). I just wanted to let you know I'll be following you and hope you take a peek at my little blog as well. I'm just starting it, but it's nice to have another banker blogging about personal finance as well! Drop me a comment sometime! - Heather a.k.a. Bank Gal <abbr><em>Bank Gal’s last blog post..<a href="http://bankgal.blogspot.com/2009/05/starbucks-double-charged-my-debit-card.html" rel="nofollow">Starbucks Double Charged My Debit Card!</a></abbr></em> Hey Philip! I really enjoy reading your blog, even though I only discovered it a few days ago. I also work for a very, very large bank (I have a feeling we work for the same company, actually). I just wanted to let you know I’ll be following you and hope you take a peek at my little blog as well. I’m just starting it, but it’s nice to have another banker blogging about personal finance as well! Drop me a comment sometime!

- Heather a.k.a. Bank Gal

Bank Gal’s last blog post..Starbucks Double Charged My Debit Card!

]]> By: Dave C. http://weakonomics.com/2009/05/26/whos-on-the-board-at-big-banks-not-bankers/comment-page-1/#comment-2288 Dave C. Wed, 27 May 2009 13:26:30 +0000 http://weakonomics.com/?p=2058#comment-2288 Did you know that Enterprise Rent-a-Car was named for the WWII US Aircraft carrier? The founder and CEO served in the Navy on board that vessel. I just think that's cool. <abbr><em>Dave C.’s last blog post..<a href="http://ihopetoretiresomeday.blogspot.com/2009/05/borrowing-from-social-security.html" rel="nofollow">Borrowing From Social Security</a></abbr></em> Did you know that Enterprise Rent-a-Car was named for the WWII US Aircraft carrier? The founder and CEO served in the Navy on board that vessel. I just think that’s cool.

Dave C.’s last blog post..Borrowing From Social Security

]]> By: weakonomist http://weakonomics.com/2009/05/26/whos-on-the-board-at-big-banks-not-bankers/comment-page-1/#comment-2287 weakonomist Wed, 27 May 2009 01:24:31 +0000 http://weakonomics.com/?p=2058#comment-2287 Journey, thanks for the link to the CEO compensation, I'm always fascinated at the ratio of what they make to the avg person. Josh, you should see how Enterprise Rentacar promotes from within. Almost no one in that company didn't start at the bottom. They reward loyalty and experience. Journey, thanks for the link to the CEO compensation, I’m always fascinated at the ratio of what they make to the avg person.

Josh, you should see how Enterprise Rentacar promotes from within. Almost no one in that company didn’t start at the bottom. They reward loyalty and experience.

]]> By: Josh http://weakonomics.com/2009/05/26/whos-on-the-board-at-big-banks-not-bankers/comment-page-1/#comment-2286 Josh Tue, 26 May 2009 23:39:53 +0000 http://weakonomics.com/?p=2058#comment-2286 I'm really surprised by what you wrote, it's absurd that a majority of the members of the board of these huge financial institutions has no real world finance/banking training or education! I know that managers of supermarkets usually start at the lower rungs of the business, get experience working in different departments, then usually manage a single department before taking on management of a single supermarket outlet. Why should the banking industry be any different? Real world experience counts for ALOT. Little wonder why things are such a mess..... I’m really surprised by what you wrote, it’s absurd that a majority of the members of the board of these huge financial institutions has no real world finance/banking training or education!

I know that managers of supermarkets usually start at the lower rungs of the business, get experience working in different departments, then usually manage a single department before taking on management of a single supermarket outlet.

Why should the banking industry be any different? Real world experience counts for ALOT.

Little wonder why things are such a mess…..

]]> By: My Journey http://weakonomics.com/2009/05/26/whos-on-the-board-at-big-banks-not-bankers/comment-page-1/#comment-2285 My Journey Tue, 26 May 2009 18:12:54 +0000 http://weakonomics.com/?p=2058#comment-2285 Excellent post! I think this is overlooked all the time. One thing I would add, is that it is the Board that is choosing the compensation for most executives. So not only is Anne involved in a COMPLEX business model she is likely to know nothing about, she is voting on the CEO's compensation. So next time you get angry that you get angry that CitiGroup's CEO made $38,000,000 in compensation in 2008 - blame the board! List of CEO compensations: http://www.aflcio.org/corporatewatch/paywatch/ceou/database.cfm?tkr=C&pg=1 <abbr><em>My Journey’s last blog post..<a href="http://www.myjourneytomillions.com/articles/an-introduction-to-trusts/" rel="nofollow">An Introduction to Trusts</a></abbr></em> Excellent post! I think this is overlooked all the time. One thing I would add, is that it is the Board that is choosing the compensation for most executives. So not only is Anne involved in a COMPLEX business model she is likely to know nothing about, she is voting on the CEO’s compensation.

So next time you get angry that you get angry that CitiGroup’s CEO made $38,000,000 in compensation in 2008 – blame the board!

List of CEO compensations:
http://www.aflcio.org/corporatewatch/paywatch/ceou/database.cfm?tkr=C&pg=1

My Journey’s last blog post..An Introduction to Trusts

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