Word: weill
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...that he had a choice. Former Citigroup chief Sandy Weill, who created the financial colossus by merging his Travelers Group with Citicorp in 1998, had traveled to Saudi Arabia to tell Citi's biggest individual shareholder, Prince Alwaleed bin Talal, that the other Prince had to go. Alwaleed reportedly wanted Weill to return to the helm, but there was little appetite for that on Citi's board...
Instead, former Treasury Secretary Robert Rubin became chairman, and German-born, London-based Sir Win Bischoff was named acting CEO. A search party of board members is looking for a new boss while, six blocks south of Citi's Manhattan headquarters, the man whom Weill once saw as his obvious successor but booted in 1998, Jamie Dimon, was leading archrival JPMorgan Chase through the credit market's troubles with far less drama...
Such an insight was supposed to be a great strength of Citigroup, which combined a venerable global bank (founded as the City Bank of New York in 1812) with the upstart financial supermarket that Weill, the Brooklyn-born son of Polish immigrants, put together in the second act of his remarkable career...
...companies that most dramatically bucked the trend were Goldman Sachs and JPMorgan Chase. The latter's success got the most attention because its CEO, Jamie Dimon, was once in line to succeed Sandy Weill at Citigroup. According to Monica Langley's book Tearing Down the Walls, Dimon, a notoriously tough manager, got the boot after losing his temper with a fellow executive who had been rude to a colleague's wife at a 1998 corporate retreat. Prince, Weill's legal adviser, inherited the top job in his place...
...when your life has come to ruin as a result of disability, you're concerned less with such philosophical questions than with simply feeling better. Trickier are the cases of brain-damaged patients on whom the operation is, by definition, performed without consent. Dr. Joseph Fins, medical ethicist at Weill Cornell and a principal researcher on the recent study, is untroubled by that, arguing that the very condition that eliminates the ability to consent is the one the surgery seeks to correct. His position is hard to challenge. A patient for whom the neural lights go on for the first...