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...have sort of become a nation of whiners.' PHIL GRAMM, economic adviser to John McCain, describing the country's "mental recession...
...This sort of thinking is already familiar to much of corporate America. For globalized companies, risk comes from all directions--contaminated products from China, terrorist attacks on facilities in the Middle East, Katrina- and Ike-size weather events at home--which has led to the rise of what the consultants call enterprise risk management. The level of risk a company is willing to take is articulated by the board of directors, and then measures of risk taken are gathered and fed up to the highest levels of management...
That is exactly the sort of top-down control financial firms now say they want. Citigroup CEO Vikram Pandit vows to be a "hands-on participant" in risk management. In August, UBS chairman Peter Kurer broke the firm into three separate units partly because the old structure, he said, encouraged "the blurring of the true risk-reward profile of individual businesses." In July, the Institute of International Finance, which counts large banks and insurance companies among its members, put out a 174-page report detailing best practices in the wake of the financial crisis. Among them: developing a corporate culture...
...your characters have real life counterparts? GM: The character Shell, by the time I got to “Son of a Witch,” is sort of a pastiche of President George W. Bush...
...These obstacles, Schwartz said, may prevent him from being an “achiever” president and may force him into the role of a “preparer” president. “Whatever he does, it’s a starting point to being some sort of change,” she said. Schwartz said that she thinks the inspirational tone of Obama’s campaign will carry over into his presidency. But she added that Obama will “have to spend a lot of time explaining to the American people how hard...