转自: Business Week 全文: http://images.businessweek.com/ss/09/05/0522_mba_gone_bad/1.htm
MBAs Gone Bad
1. George W. Bush
Who He Is: Former U.S. President
MBA: Harvard
A 1975 graduate of Harvard Business School, Bush left a record managing foreign wars, the federal budget deficit, and the economy that made him the least popular President in modern history. B-school critic Henry Mintzberg thinks that's no coincidence. He points to the case study method that has dominated the HBS curriculum for nearly a century, and suggests that Bush's management style is the result.
"Good managers are decisive, and so good management students must take a stand," Mintzberg writes. "That is the key premise behind the case study method…the student reads a 20-page case one day and declares on the next what the company should do. Refuse to do so with the claim that this is a superficial exercise and you are shown the door. George W. Bush was not shown the door. So it may not be coincidental that his decision making about Iraq has resembled a case study. Certainly no one has accused [Bush] of lacking decisiveness."
2. Christopher Cox
Who He Is: Former SEC Chief
MBA: Harvard
The chairman of the Securities & Exchange Commission under Bush, Cox has been criticized for missing the signs that Wall Street was poised for a meltdown, for his long-standing support of deregulated markets, and for ignoring multiple warnings about the Bernie Madoff scandal. Cox, like Bush, is a graduate of Harvard B-School, where the ability of free markets to self-regulate is, as is in most business schools, an article of faith.
3. Richard Fuld
Who He Is: Former Lehman Brothers CEO
MBA: NYU, Stern School of Business
A 1973 graduate of New York University B-School, Fuld took over Lehman Brothers when it was spun off from American Express in 1994 and held the position until Lehman's collapse in 2008. Ignoring warning signs, Fuld took on outsize risk from subprime mortgages that ultimately destroyed the company.
4. Andy Hornby
Who He Is: Former CEO of HBOS
MBA: Harvard
Hornby led HBOS, one of Britain's largest banks, to the brink of collapse before his resignation in January. The bank, which suffered massive losses in 2008, was ultimately taken over by Lloyds TSB.
5. Jeff Immelt
Who He Is: General Electric CEO
MBA: Harvard
Once the golden boy tapped to succeed the legendary Jack Welch, this Harvard graduate has fallen on hard times. With troubles mounting at General Electric's finance arm, GE's stock has been battered, with $300 billion in market cap disappearing since late 2007.
6. Kerry Killinger
Who He Is: Former CEO of Washington Mutual
MBA: Iowa, Tippie School of Business
For 18 years, Killinger led Washington Mutual, building it into a retail banking behemoth. But by last year its shaky foundations were becoming apparent. With losses from subprime mortgages mounting, this 1971 Iowa MBA graduate was fired as CEO on Sept. 8. A few weeks later, WaMu was siezed by the FDIC and its assets sold off to JPMorgan Chase
7. Edward Liddy
Who He Is: CEO of American International Group
MBA: George Washington University
Liddy, a 1972 MBA graduate of George Washington University, doesn't get the blame for AIG's near-demise and the collapse of the economic house of cards that followed. (That goes to his predecessors, Martin Sullivan and Hank Greenberg, who don't sport a B-school credential.) Liddy's flaw: defending a $440,000 corporate retreat for AIG executives at the posh St. Regis Resort in Monarch Beach, Calif., that took place after the U.S. saved the company from insolvency with $84 billion in loans. To his credit, Liddy has urged executives who received $165 billion in bonuses to return the cash.
8. Stan O'Neal
Who He Is: Former CEO of Merrill Lynch
MBA: Harvard
As its CEO for five years, O'Neal transformed Merrill Lynch into an overleveraged firm awash in toxic assets that was eventually forced into a shotgun marriage with Bank of America. Under O'Neal, who received his MBA from Harvard B-School in 1978, Merrill Lynch became one of the biggest underwriters of mortgage-backed securities on Wall Street. When those bets went sour with the end of the housing boom, so did O'Neal's career. He called it quits in October 2007.
9. Vikram Pandit
Who He Is: CEO of Citigroup
MBA: Columbia
Under Pandit's watch since December 2007, heavy exposure to collateralized debt obligations inherited from his predecessor crippled Citigroup, forcing it to make tens of thousands of job cuts and accept a $25 billion federal bailout. Since mid-2007, Citigroup lost more than 90% of its market cap. Pandit got his MBA from Columbia in 1980.
10.Hank Paulson
Who He Is: Former Treasury Secretary
MBA: Harvard
As the Bush Administration's point man on the financial crisis since 2006, the former head of Goldman Sachs pushed through the federal takeover of Fannie Mae and Freddie Mac, and saved AIG from collapse with an $85 billion loan. But his rescue plan was hopelessly inadequate, and the decision to let Lehman fail made a bad situation worse. He received his MBA in 1970.
11.Marion Sandler
Who She Is: Co-CEO of Golden West Financial
MBA: NYU, Stern School of Business
With her husband, Herbert, this MBA graduate of New York University B-School for many years ran Golden West Financial, once the nation's second-largest savings and loan. Golden West's World Savings Bank pioneered the use of the option ARM mortgage with low teaser rates. The couple sold World Savings to Wachovia at the peak of the housing boom in 2006, and when many of those loans went south with housing market, they took Wachovia with it.
12. Myron Scholes
Who He Is: Stanford Professor
MBA: Chicago, Booth School of Business
The Nobel Prize winner in economics, who with Fischer Black and Robert Merton created the Black-Scholes formula for valuing stock options, was a co-founder of Long Term Capital Management. That hedge fund blew up in 1998 in the wake of the Russian financial crisis and required a massive bailout by major banks. Since the Black-Scholes formula provides the underpinning for modern derivative markets, Scholes also has been called the "intellectual godfather" of credit default swaps, the complex derivative contracts that led to AIG's downfall. Scholes received an MBA from Chicago in 1964.
13. John Thain
Who He Is: Former CEO of Merrill Lynch
MBA: Harvard
Merrill Lynch's problems began long before Thain took the helm from predecessor and fellow Harvard grad Stan O'Neal. But Thain certainly didn't help on the PR front. Thain approved early bonuses of nearly $4 billion to Merrill employees following a $15 billion fourth-quarter loss and shortly before the firm's distressed sale to Bank of America—it's unclear if federal bailout funds were used. That, combined with a $1.2 million office renovation that included a $1,400 wastebasket (all costs subsequently covered by Thain) portray Thain as a tone-deaf leader. Bank of America CEO Ken Lewis gave Thain his walking papers in January.
14.Ken Thompson
Who He Is: Former CEO of Wachovia
MBA: Wake Forest, Babcock Graduate School of Management
Thompson, who holds an MBA from Wake Forest, was ousted as CEO of Wachovia last year after the bank reported steep mortgage-related losses. In one sense, Thompson was not to blame: Many of the losses stemmed from the subprime loan portfolio Wachovia took over as part of the company's $25 billion acquisition of Golden West Financial in 2006. In another, however, it was: After all, it was Thompson's deal. After Thompson's departure in July, Wachovia was ultimately sold to Wells Fargo.
15. Rick Wagoner
Who He Is: Former CEO of General Motors
MBA: Harvard
A GM lifer since 1977, the year he received his MBA from Harvard, Wagoner has been CEO since 2000. On his watch, GM's market share has slipped from 28% to 18.6%. And, despite the elimination of nearly 70,000 jobs since 2005, the company has been operating in the red for the past four years—losing $31.5 billion in 2008 alone.
Wagoner failed to restructure GM and change its culture fast enough to prepare it for the swift downturn of last year that pushed the automaker toward bankruptcy. He killed Oldsmobile, but also engineered the purchase of Hummer, which hasn't worked out. And he hung on to moribund Swedish brand Saab past its sell-by date.
At the end, the company was surviving on government loans. With President Obama threatening to withhold additional cash unless Wagoner left, he did just that in March
16. Andrew Fastow
Who He Is: Former Enron CFO
MBA: Northwestern, Kellogg School of Management
Hall of Shame Claim to Fame:
Indicted by a federal grand jury in Texas in 2002 for his role in the Enron collapse, the company's former CFO was charged with 78 counts including fraud, money laundering, and conspiracy. In 2004, he pleaded guilty to two counts of wire and securities fraud, agreeing to serve a 10-year prison sentence. In exchange for his cooperation with federal authorities investigating other former Enron executives, his sentence was reduced to six years. His wife, Lea Weingarten, who served a one-year prison term following her guilty plea to a misdemeanor tax charge stemming from the Enron scandal, also has an MBA from Kellogg.
17. John Meriwether
Who He Is: Founder Long-Term Capital Management
MBA: Chicago, Booth School of Business
Hall of Shame Claim to Fame:
A pioneer in fixed-income arbitrage while at Solomon Brothers in the 1980s, Meriwether founded Long-Term Capital Management in 1994. The hedge fund's collapse four years later, on the heels of the Russian financial crisis, threatened to destabilize the global economy. The Federal Reserve Bank of New York organized a $3.6 billion bailout by LTCM's major creditors, avoiding a wider collapse of financial markets.
18. Michael Milken
Who He Is: Former "Junk Bond King" at Drexel Burnham Lambert
MBA: Wharton
Hall of Shame Claim to Fame:
In 1989, following a lengthy investigation into Milken's trading activities during the 1980s buyout boom, a federal grand jury indicted him on 98 counts of racketeering and fraud, including insider trading, tax evasion, and other charges. The following year, he pleaded guilty to six felonies, agreed to pay $200 million in fines, and accepted a lifetime ban from the securities industry. He ultimately served 22 months in prison.
19.Joseph Nacchio
Who He Is: Former CEO of Qwest Communications
MBA: NYU, Stern School of Business
Hall of Shame Claim to Fame:
CEO of Qwest from 1997 to 2002, Nacchio was convicted of 19 counts of insider trading in Qwest stock in 2007. He was ordered to pay more than $70 million in fines and other penalties and was sentenced to six years in federal prison. An appeals court overturned the conviction in 2008 and ordered a new trial. In addition to his MBA from New York University, Nacchio has an MS in management from Massachussets Institute of Technology's Sloan School of Management.
20.Frank Quattrone
Who He Is: A former investment banker at Credit Suisse First Boston
MBA: Stanford
Hall of Shame Claim to Fame:
Quattrone was prosecuted for allegedly interfering with the government's probe into the allocation of hot IPOs at Credit Suisse, where he helped take dozens of companies public during the 1990s tech boom, including Netscape, Cisco, and Amazon.com. His May 2004 conviction was overturned on appeal. As part of a 2006 deferred prosecution deal, Quattrone will not be retried.
21. Jeff Skilling
Who He Is: Former CEO of Enron
MBA: Harvard
Hall of Shame Claim to Fame:
After graduating near the top of his class at Harvard, Skilling went on to work for McKinsey, where Enron was a client. Hired by Ken Lay in 1990, he became CEO in 2001. Five years later he was convicted of multiple felony counts in connection with Enron's financial collapse. He is currently serving a 24-year, 4-month term at a federal prison in Colorado.
Statistics
Harvard: 9 (Harvard has trained the largest number of CEOs)
NYU Stern: 3
Chicago Booth: 2
Stanford: 1
Wharton: 1
Columbia: 1
Kellogg: 1
Wake Forest: 1
Iowa: 1
George Washington: 1
Total: 21
小布什可是耶鲁本科+哈佛mba，看来在美国混还是得有个好爸爸啊
我不由得想起了瓜瓜同学。。。
这些人好歹也是商界叱刹风云的人物, 你管他是流芳百世还是遗臭万年. 不过可怜的是每年数万计的 MBA 毕业生, 真正的 LEADER 也就出了为数不多的几个. 当然你可以说还有很多人虽然不是那样的 LEADER 但是MD, VP 之类也在自己的岗位上做的有声有色, 还有就是五百强就那么几个 CEO 都是 MBA......
看看.
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