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BusinessWeek MBA Hall of Shame

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riverripper
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BusinessWeek MBA Hall of Shame [#permalink] New post   21 May 2009, 16:05
BusinessWeek MBA Hall of Shame
https://images.businessweek.com/ss/09/05/0522_mba_gone_bad/index.htm

George W. Bush (President USA): HBS ‘75
Christopher Cox (Former SEC Chief): HBS ‘77
Richard Fuld (Former Lehman Brothers CEO): NYU ‘73
Andy Hornby (Former CEO of HBOS): HBS
Jeff Immelt (General Electric CEO): HBS ‘82
Kerry Killinger (Former CEO of Washington Mutual): Iowa, Tippie ‘71
Edward Liddy (CEO of American International Group) : George Washington University ‘72
Stan O'Neal( Former CEO of Merrill Lynch): HBS ‘78
Vikram Pandit (CEO of Citigroup): Columbia ‘77
Hank Paulson (Former Treasury Secretary): HBS ‘70
Marion Sandler (Co-CEO of Golden West Financial): NYU ‘58
Myron Scholes (Stanford Professor): Chicago, Booth ‘64
John Thain (Former CEO of Merrill Lynch): HBS ‘79
Ken Thompson (Former CEO of Wachovia): Wake Forest, Babcock ‘76
Rick Wagoner (Former CEO of General Motors): HBS ‘77
Andrew Fastow (Former Enron CFO/Prisoner): Northwestern, Kellogg (part-time) ’87
John Meriwether (Founder Long-Term Capital Management): Chicago, Booth ‘73
Michael Milken (Former "Junk Bond King" at Drexel Burnham Lambert): Wharton ‘70
Joseph Nacchio (Former CEO of Qwest Communications): NYU & MIT (Sloan Fellow)
Frank Quattrone (former investment banker at Credit Suisse First Boston): Stanford ‘81
Jeff Skilling (Former CEO of Enron): HBS ‘79

HBS leading the way, NYU with a surprisingly strong showing. HBS '77 through '79 banner period of producing terrible MBA's.

Fastow was a PT person at Kellogg and is mentioned routinely by professors as an example of what you should never do.
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Raabend
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Re: BusinessWeek MBA Hall of Shame [#permalink] New post   21 May 2009, 17:20
No Cornell.....hmmmmm, I hope I will be the first Cornellian on the Hall of Shame! **currently thinking of ways to swindle my way to glory**
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Jerz
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Re: BusinessWeek MBA Hall of Shame [#permalink] New post   22 May 2009, 03:41
I'm not sure I understand what Immelt did to get on the list. I mean, sure, on his watch GE's share price has gone into the gutter (who's hasn't these days?), but I'm not sure that warrants comparison to criminals like Fastow, Skilling and Quattrone, or the guys who let the credit situation get out of control on their watch.
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Re: BusinessWeek MBA Hall of Shame [#permalink] New post   22 May 2009, 04:34
Jerz wrote:
I'm not sure I understand what Immelt did to get on the list. I mean, sure, on his watch GE's share price has gone into the gutter (who's hasn't these days?), but I'm not sure that warrants comparison to criminals like Fastow, Skilling and Quattrone, or the guys who let the credit situation get out of control on their watch.


I have to agree. He's still respected within the company and externally. He is a part of Obama's Economic Recovery Advisory Board, along with some of the other corporate/public sector/academic titans of the U.S. (that's him sitting to the left of Obama in this pic: https://www.zimbio.com/pictures/qrwXmESX ... rey+Immelt). Note that the meeting happened 2 days ago, so this is very much an ongoing thing.

GE's finance businesses are still making money (granted, not as much as they used to, but still profitable), and most of its industrial businesses have never posted better numbers than they did in 2008. I think Immelt's growth strategies for the next decade are sound, and I believe that he has a good vision for the company. GE will bounce back, and Immelt's reputation will as well.
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Re: BusinessWeek MBA Hall of Shame [#permalink] New post   22 May 2009, 11:41
Seems Booth and Wharton did fairly well even though they are regarded as finance schools. However, pointing the finger to one individual at the top of the totem pole for something that took groups of individuals to alter is pretty pointless. :lol:
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Re: BusinessWeek MBA Hall of Shame [#permalink] New post   22 May 2009, 12:21
I'm surprised they didn't list Phil Purcell (Chicago). He nearly destroyed Morgan Stanley from 2001-2005.
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Re: BusinessWeek MBA Hall of Shame [#permalink] New post   22 May 2009, 15:01
I think Immelt made it because of how far GE's stock has dropped relative to lots of companies and the fact they lost their AAA financial rating. It doesnt help that he is following one of the most legendary CEO's of all time. That said Immelt vs Nardelli shows that GE made the right decision. But I am sure BW wants the wow factor with Immelt's HBS vs Nardelli's University of Louisville.

So I will add the following:
Robert Nardelli (former CEO Home Depot...soon to be former CEO of Chrysler): University of Louisville '75
Leon Black (founder of Apollo Management..Linens & Things, Harrahs, Realogy, Claire's): HBS '75
Kerry Killinger (former CEO Washington Mutual): University of Iowa '71
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Re: BusinessWeek MBA Hall of Shame [#permalink] New post   23 May 2009, 21:17
Including Edward Liddy seems like a really cheap shot. He had nothing to do with AIG's collapse and took a thankless job for no pay (or $1 or something). BW's point is that he allowed a $440,000 executive retreat to go on after the bailout. Well,
he would have to cancel almost half a million such retreats to pay back $185 Billion. Hopefully he was working on bigger problems.
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riverripper
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Re: BusinessWeek MBA Hall of Shame [#permalink] New post   24 May 2009, 06:57
You definitely can come up with just as impressive if not more impressive list of CEO failures without MBA's...probably could do one with JDs.
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Jerz
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Re: BusinessWeek MBA Hall of Shame [#permalink] New post   25 May 2009, 04:07
riverripper wrote:
You definitely can come up with just as impressive if not more impressive list of CEO failures without MBA's...probably could do one with JDs.


JD failures is way too easy. You could top 500 without even leaving DC.
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Re: BusinessWeek MBA Hall of Shame [#permalink] New post   25 May 2009, 18:59
As much as I would love to bash HBS I think people at the top tend to be corrupt, and people at the top tend to go to HBS. So hard for HBS to screen that from a 25 year old bad-ass, unless they obviously lie or have a criminal record.
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Re: BusinessWeek MBA Hall of Shame [#permalink]
25 May 2009, 18:59

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