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To: george76
CEO of Hertz Stephen Scherr has been booted out due to a vast purchase of an EV fleet that consumers didn’t even want to rent.

I've met so many business managers and CEOs who, like game-show hucksters, are ready to spend investors and owners' money simply "following the latest thing." In a low-growth, competitive industry like car-rentals, how else does one make a name for oneself or potentially earn $tens of millions in bonuses, unless one places ridiculous bets?

A CEO candidate who simply said, I'm going to focus on cost-control, key employee retention, and operational efficiency to grow our market share and profit a few % points, would be called "boring" and and "lacking vision."

2 posted on 03/23/2024 9:17:06 AM PDT by PGR88
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To: PGR88

The ability of a seasoned executive or manager to accept mandated nonsense with enthusiasm while slow-walking it into oblivion is a beautiful thing to watch. It takes a very smart person to let something dumb ferment knee deep in group-think until it’s no longer popular.


22 posted on 03/23/2024 9:41:46 AM PDT by blackdog ((Z28.310) Be careful what you say. Your refrigerator may be listening & reporting you.)
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To: PGR88

Scherr’s salary was $182 million, 3rd highest for a CEO in the US at the time. I could have happily screwed up the company at least that badly for half that amount.


41 posted on 03/23/2024 9:57:20 AM PDT by Stosh
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To: PGR88

Managers that manage are seen as losers. You are correct without exception.


42 posted on 03/23/2024 10:00:35 AM PDT by Sequoyah101 (Procrastination is just a form of defiance)
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To: PGR88; george76
I've met so many business managers and CEOs who, like game-show hucksters, are ready to spend investors and owners' money simply "following the latest thing." In a low-growth, competitive industry like car-rentals, how else does one make a name for oneself or potentially earn $tens of millions in bonuses, unless one places ridiculous bets?

When I was much younger, I worked at a corporate chain of restaurants that would roll out the "new dish of the month" that would be a sensation for a month or two, and then settle into irrelevance. But the restaurant staff would still have to deal with the one or two orders a month, which was a giant pain in the keester.

I called it "another yuppie gets his condo", in reference to the up-and-coming management hotshot that was making a name for himself or herself.

51 posted on 03/23/2024 10:16:20 AM PDT by kiryandil (what Odessa doink?)
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To: PGR88

Where’s Gomer expressing “Surprise!” when you need him?


60 posted on 03/23/2024 11:00:02 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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