1396
Ancient IBM wisdom (from 1979) that the bosses just straight up promptly forgot
(media.piefed.social)
Apparently a page from an internal IBM training manual. Some further attempts at source it
Managers aren’t being held accountable for their management decisions either.
“Oh, I sacked our entire workforce and sold all the company assets, so the figures will look amazing this month.”
“Oh, the figures are down this month, a golden handshake!? Thank you very much.”
Most industries management fails upward. Definitely true in Pharma.
There are CEOs with a 20 year string of development failures, but they bring "vast experience".
It depends, though.
There are cases where parts of a struggling company is worth less than the sum of its parts. At that point, the fiscally prudent option is to sell it off, either in one piece or multiple pieces. There are plenty of cases in American corporate history where the best option is to cut losses and leave a market.
That being said, I'm surprised that private equity is still allowed to be a thing given the massive disparity shown in how a lot of financial disparity in how a lot of private equity companies run their companies against their fiduciary responsibilities to their companies' stockholders and bondholders.