Roylat.com » Management http://roylat.com Commentary on a Mixed Up and Sometimes Backward World Mon, 29 Aug 2011 12:37:19 +0000 en hourly 1 http://wordpress.org/?v= A Different Approach to Financial Management – Leonard Abess http://roylat.com/2009/05/a-different-approach-to-financial-management-leonard-abess/ http://roylat.com/2009/05/a-different-approach-to-financial-management-leonard-abess/#comments Fri, 01 May 2009 22:26:33 +0000 roylat http://roylat.com/2009/05/a-different-approach-to-financial-management-leonard-abess/ buy cheapest viagra online vardenafil size=”2″>President Obama lasix online directed attention to the man who gave $60 million to his employees, but there is a lot more to the man than emerged in quick mainstream viagra Buy Cialis Online Viagra buy online female Silagra media. buy cialis cialis Here is an in-depth interview (thanks to Nancy Banker) that everyone who kamagra manages a business – and buy cialis pills those who would like to understand what responsible management means — should read. Here is the beginning, viagra online price with a link to the full interview.

I highly recommend it.

Sharing buy amoxicillin online Kamagra generic levaquin the Wealth: Leonard Abess and the $60 Million Gift to His Employees

Published: April 29, generic amoxil 2009 in Knowledge@Wharton
 

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When cheapest nolvadex Leonard Abess sold a majority viagra cost buy Cialis for sale cialis tablets stake in Miami-based City National Cialis buy amoxil Online Viagra Shops buy amoxicillin online diflucan Bank last fall, he did something very unusual. He took $60 million of that money and gave it out as bonuses to 399 current cialis Order Generic Female Viagra Online without Prescription buy online bank employees and 72 former employees.

He did it without calling in a public relations firm or the media. He didn’t blog about it.

Cialis And while he was mentioned in President Obama’s inauguration speech and was ABC News Person of the Week, these things were not done at his instigation. In fact, he wasn’t even on site when the money was given out.

He decided buying propecia to share the wealth, he said, as a way to reward the people who had helped make the bank

successful. Knowledge@Wharton asked Leonard Abess, who remains chairman and CEO buyviagra of the bank,

to talk about the motivation behind his gift, leadership and the current economic crisis.

…

Knowledge@Wharton: To begin with, can you explain in a little more depth exactly why you decided to distribute $60 million to diet pills without a prescription your employees, when you could just as easily have given that money to a charity of your choice or some other nonprofit group?

Abess: levitra on line It wasn’t so much that I just suddenly decided to do it. I knew I was going to do it for a very long time … for probably more than purchase viagra online 20 years. I had confided it to my wife and to a [company] president who had been with us and to a chief operating ampicillin online href=”http://ampicillinpills.net”>cheap ampicilllin officer. I just never thought that I was solely responsible online buy cialis daily pharmacy for the success of

the bank. I owned the bank. I enjoyed the profits, the dividends.

And I always realized that while there were 400-plus people doing the work, making it successful, the profits were going in one direction.

We certainly compensated very well. We were in the top 25 banks in the country in compensation buy merck propecia per employee. But we were also in the top 15 in the country buy generic cytotec in revenue per employee.

I felt, particularly Brand Cialis based on longevity, that these people were owners.

They acted buy real viagra without prescription like owners. They worked like owners…. I wanted to acknowledge that. We had excellent compensation. Unlike many companies, we didn’t just pay it out in huge ways to the top people.

But I had a formula based on how long people had been there. No one really knows that formula but me. The longer buy cheap drugs you were there, the more money you got. In many companies, the people who stay the longest are closer to the bottom of the compensation scale. People near the top tend online Buy Accutane Online Pharmacy No Prescription Needed amoxil to move around a lot more.

So it felt right.

And I was concerned that [some employees] had not built up adequate pensions. Some of them had invested their 401(k)s in the stock market. I knew it had been difficult over the years to save. And I thought they were entitled to the same kind of security that I would get. People near levitra brand online the bottom of the company in compensation, but with longevity, got as much as nine years of

compensation. And then people at the top didn’t get so many years.

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Full buy levitra cheap online Interview

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