Subscribe: RSS Feed | Twitter | Facebook | Email
Home | Contact Us

Posts Tagged ‘Tiger Woods’

As for Tiger Woods . . . Who Cares?

Posted by Larry Doyle on February 19th, 2010 9:00 AM |

Image is everything, especially when the reality of a situation is vastly different than the image itself. Regrettably, our nation all too often is far more caught up with image than reality.

As long as the market is up, does it really matter what the underlying fundamentals might be? As long as my team is winning, does it really matter what may be going on behind the scenes? As long as companies generate revenue, does it really matter how the register is being rung?

While I have limited interest in judging people’s personal behaviors, I have no interest in being inundated with images of perfection and serenity when the reality belies this image. (more…)

Sense on Cents 2009 Halls of Fame and Shame

Posted by Larry Doyle on January 4th, 2010 9:47 AM |

For those who missed last evening’s No Quarter Radio’s Sense on Cents with Larry Doyle Hall of Fame and Shame Induction, I am compelled to provide a recap and listing of all those honored or dishonored — depending on one’s perspective. What was the measuring stick to make these assessments? Very simply, the pursuit and promotion of truth, transparency and integrity as we navigate the economic landscape.

Some names you will immediately recognize, others you may not. Additional information about these individuals can be found via the search window (located above the right sidebar) at Sense on Cents. The names appear in no specific order of priority or importance. With no further adieu . . .

Sense on Cents 2009 Hall of Shame Inductees

1. Bernie Madoff
2. Nicholas Cosmo: ran financial scam at Agape World
3. Tim Geithner: tax cheat amongst other things
4. Larry Summers: arrogant, condescending, and sleep deprived
5. Auction-Rate Securities dealers and managers, especially Oppenheimer Holdings, E-Trade, Schwab, Pimco, Van-Kampen, Blackrock
6. The Wall Street Journal
7. George Soros
8. Chris Dodd (D-CT): reasons too numerous to mention
9. The Board of FINRA
10. Franklin Raines and Leland Brendsel: former CEOs of Fannie and Freddie
11. Wall Street management, especially Lloyd Blankfein of Goldman Sachs
12. Frank Dipascali: a special place in hell for Madoff’s CFO
13. Rahm Emanuel
14. Jimmy Cayne: CEO of Bear Stearns
15. Dick Fuld: CEO of Lehman Bros.
16. Congress collectively
17. Barney Frank (D-MA): reasons too numerous to mention, but start with “I want to roll the dice…”
18. Bank Stress Tests: a total sham
19. Allen Stanford
20. Steven Rattner: car czar
21. Bruce Malkenhorst: receiving a 500k pension from Vernon, CA
22. Barack Obama: just another politician (more…)

Tiger Woods and The Greatest Risk

Posted by Larry Doyle on December 18th, 2009 3:07 PM |

What do the dalliances and sexploits of Tiger Woods have to do with Sense on Cents? Everything.

Uh-oh. Are you thinking, “Don’t tell me, LD, that you are going to turn a staid and fairly conservative business blog into a place for social stargazing and barroom gossip.”

No, don’t worry about that. While there are some obvious personal lessons involved in the Tiger Woods saga, there is a very real business lesson as well. I initially addressed this lesson when writing about Bear Stearns a year ago. My piece, “The Greatest Risk,” addresses reputation.  I wrote then:

For those who have read my pieces, you have heard me stress how important it is to understand risk. On Wall Street,as in any business, there are all types of risk. For example, there is market risk, credit risk, interest rate risk, prepayment risk, and counter-party risk amongst others. For anybody involved in the markets, all of these risks are facts of everyday life, but they pale in the face of what many feel is the greatest risk of all, and that is “in never taking risk.” For without risk, there is no reward.

However, in my opinion, there is a greater risk that lurks everyday and for my money is massively mispriced, and that is reputation risk. When I say mispriced, I mean there is no premium high enough to jeopardize one’s personal and professional reputation.

Again, there are many who would say Tiger Woods, or any individual for that matter, is entitled to his personal privacy and should not be publicly judged by his private actions. I would respond that Tiger Woods is not strictly a private person, but he is also very much a public brand, and effectively an industry unto himself. The power of the Tiger brand was enormous. As with any brand, the marquee value is maintained only by continually burnishing and polishing the image.

Say what you want, but the Tiger image is forever changed and with it the Tiger brand. Can Tiger redeem himself? Of course. The power of redemption is a remarkable force. I hope for his personal sake that he addresses his issues and does redeem himself.  That said, the Tiger brand is forever changed.

The lesson for all of us, and especially those starting out in the professional world, is one I address with every individual whom I mentor. As I highlight in my Career Planning link here at Sense on Cents:

While I am fully supportive of taking prudent risks in a career, the one risk for which there is no premium high enough is the risk of a tarnished reputation. With word of mouth being the most powerful form of advertisement, you never want to run the risk that your product is viewed as impaired by a questionable reputation.

Tiger Woods’ personal transgressions put his professional brand at this greatest risk. He has lost more than he would have ever imagined.

Tiger is perhaps the greatest golfer to ever play the game. As in any business, though, the risk of jeopardizing one’s reputation goes far beyond any golf course, trading floor, or boardroom.

That is the Tiger lesson for all of us.


Recent Posts