Comments on: Jamie Dimon needs a boss http://blogs.reuters.com/felix-salmon/2013/05/17/jamie-dimon-needs-a-boss/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: JCMCapital http://blogs.reuters.com/felix-salmon/2013/05/17/jamie-dimon-needs-a-boss/comment-page-1/#comment-48384 Thu, 17 Oct 2013 00:38:42 +0000 http://blogs.reuters.com/felix-salmon/?p=21782#comment-48384 I sold JPM in 2002 when I left at $56. It has been “dead money” since”
He should have been fired when he offered to sell Bank One for “Par”!
But Jim Crown interfered with that!!
jcm

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By: Christofurio http://blogs.reuters.com/felix-salmon/2013/05/17/jamie-dimon-needs-a-boss/comment-page-1/#comment-47068 Tue, 21 May 2013 14:07:31 +0000 http://blogs.reuters.com/felix-salmon/?p=21782#comment-47068 mfw13: stockholders shouldn’t be expected to sell every time there’s an issue. They should be able to address that issue as owners. If I hire a contractor to fix my house, and he isn’t doing the job I want — I don’t have to sell the house to him or a third party who likes him and move away. I can fire his butt and get another contractor. Or even require him to deal with a subcontractor. Why? because it’s my house.

Nothing to be “amazed” about here.

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By: mfw13 http://blogs.reuters.com/felix-salmon/2013/05/17/jamie-dimon-needs-a-boss/comment-page-1/#comment-47063 Tue, 21 May 2013 01:50:13 +0000 http://blogs.reuters.com/felix-salmon/?p=21782#comment-47063 I am amazed by how many people continue to own the stock of companies whose governance they feel is poor.

If you don’t think Jamie Dimon should be chairman and CEO of JP Morgan, then sell the stock.

If enough people do that to send the stock price down, I’m pretty sure he’ll get the message.

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By: JSRNYC http://blogs.reuters.com/felix-salmon/2013/05/17/jamie-dimon-needs-a-boss/comment-page-1/#comment-47051 Mon, 20 May 2013 17:05:04 +0000 http://blogs.reuters.com/felix-salmon/?p=21782#comment-47051 “But the fact is that Dimon should not be chairman of JP Morgan”? This statement may be many things but it is certainly not a fact. It is an opinion. We have plenty of evidence that he’s a good chairman, in that the bank was so well managed in the run-up to the financial crisis that it did not require a bailout. Would Dimon having a boss have definitively prevented the “whale” incident that led to this whole discussion? Here’s another opinion: probably not.

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By: Sechel http://blogs.reuters.com/felix-salmon/2013/05/17/jamie-dimon-needs-a-boss/comment-page-1/#comment-47037 Sat, 18 May 2013 19:38:33 +0000 http://blogs.reuters.com/felix-salmon/?p=21782#comment-47037 Frankly separating the role of CEO & Chairman of the Board is just good governance. With the exception of smaller publicly traded firms, I can’t understand why shareholders would not insist upon it. It seems where companies get into trouble is where the board is not able to exercise good over-sight. A CEO who holds both titles would seem to go against an effective board.

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By: QuietThinker http://blogs.reuters.com/felix-salmon/2013/05/17/jamie-dimon-needs-a-boss/comment-page-1/#comment-47036 Sat, 18 May 2013 18:11:35 +0000 http://blogs.reuters.com/felix-salmon/?p=21782#comment-47036 @y2kurtus thinks that the too big to fail banks serve a purpose. If the purpose is to take insured deposits which could be loaned to small businesses to London, Hong Kong, etc and gamble those funds in currency speculations and derivatives, then Jamie Dimon is your man.

The cult of the CEO is a disaster. Every company big enough to be listed on the stock exchange needs a board chairman to oversee the company president and to represent the owner-shareholders.

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By: y2kurtus http://blogs.reuters.com/felix-salmon/2013/05/17/jamie-dimon-needs-a-boss/comment-page-1/#comment-47033 Sat, 18 May 2013 04:10:35 +0000 http://blogs.reuters.com/felix-salmon/?p=21782#comment-47033 Whine as many will about the too big to fail banks they do serve a purpose. National businesses can use one firm coast to coast. Customers who travel frequently between large cities can transact business seamlessly. Truly massive web and systems platform spending can be spread across businesses in the thousands and customers in the millions.

Capital is the only issue to decide. If a bank is to big to unwind in an orderly fashion than by all means require more capital. The Canadian model (basically 5 large national banks vs +5,000 in the US) works just fine.

If people don’t want to work with a large bank run by a 20,000,000 CEO they can always bank at one of the +1,000 customer owned mutual banks like mine or the +6,000 credit unions like Felix’s.

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