Failed Lehman CEO's Campaign Contributions
Submitted by Allen Gwinn on Tue, 10/07/2008 - 21:16.
Well, we're going to take a quick foray into National politics.
By now, most of us have heard the name Richard Fuld. Fuld was the CEO of Lehman Brothers that filed for bankruptcy in mid-September.
Fuld received "concern" that he may have bonused himself up to $480 million dollars as the company was going under (that could have bought DISD out of debt, eh?).
There has been much speculation that Fuld was spared the harshest treatment on Capitol Hill thanks, in part, to his generous campaign contributions.
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.5Billion
http://www.nytimes.com/2008/10/07/business/economy/07lehman.html?scp=3&s...
Fuld
“I wake up every single night wondering what I could have done differently,” he said. “This is a pain that will stay with me the rest of my life.”
Of course, the half-billion dollars may make the pain a little more bearable! I know. I'm a cynic sometimes!
Bass Performance Hall in Fort Worth, courtesy of the Bass
family of Texas shows that there are keen CEO's and BILLIONS made which saved the downtown area of Fort Worth from a streak of crime and Disney basically from bankruptcy back in the early 80's so hundreds of thousands of kids could continue enjoying Disney. The Bass family of Fort Worth brought former Warner executive Frank Wells in, who brilliantly in turn hired Eisner to team with. Yes, Eisner and the late, Frank Wells, a unique businessman I got to know personally as a friend and business man from being on his Seven Summits adventure, really saved this American icon from bankruptcy and made hundreds of millions for his effort. The Bass family has invested many millions of dollars into Fort Worth with their profits from making good business investments into a wonderful downtown area by investing ten's of millions into making a more beautiful downtown area and safer to visit than the Dallas downtown area is today. Eisner and Well's did deserve their pay and just as we have a "dud" as a DISD Superintendent, there are other major cities thriving with reliable SUP's. So this works on both sides of the coin.
Let's concentrate on measures that need to be installed to not repeat this mistake of hiring people who are overwhelmed with the task of running DISD. I thank goodness for having this website, Dallas.org to read and inform others that we all need to be involved in this current failure of what has happened as we voted the Trustee's on the board to choose our present Superintendent. This is not the failure of one man in charge, but for all of us for not seeing the cracks form early in the process, and now there is "Blood In The Streets" for Dallas taxpayers again. I accept my fault for not being more vocal earlier on Hinajosa, who I felt from the beginning could not achieve the national rankings he was wanting to do, as the foundations were never in place to complete such a task. This process is no different than taking control of the stocks we invest into, just we all need to accept responsibilty and capture strength to move forward, the students and children deserve this from us.
Read the reports of each of the 100 biggest spender's of DISD, many were area school level positions which is sad that they showed such laxed efforts in judgement and record keeping as well. I know I want to be more involved in how my taxpayer dollar is spent in my local schools and will be strong in advocating for parents to be more involved into the decision making go in a better direction.
Sharks
There is a difference between cynicism, which is a type of defeated attitude about life in general, and recognizing sharks when they appear.
I'm sure you saw execs from AIG on the news yesterday as they appeared before Congress. After the taxpayer bailout, they celebrated by taking a $400K spa trip.
Those of us who have worked with these millionaire boys and girls have a keen sense of both their smell and the fact that they don't change.
That might be the reason some of us caught a whiff of Hiney even when he was so sincerely emoting about changing education in Dallas.
Now we have Scovell and Ware circling DISD because the bond money is being held up.
Where were these two scoundrels when it became apparent that teachers would be put out in the streets? Did we see sharks suddenly crying shark tears, or did we see no response?
One of the many reasons not to adopt the CEO model for education. Education is for our children; the CEO model is made for sharks.