Société Générale’s Jérôme Kerviel First Interview About EUR 4.9 bn Trading Losses

February 9, 2009

Interview with Jerome Kerviel on TF1

Interview with Jerome Kerviel on TF1

We have been eager for a long time to hear the other side of last year’s mega losses at Société Générale (SCGLF), where a lone trader allegedly gambled away EUR 4.9 billion without anyone realizing it. Having worked at a French bank for a while ourselves, we have always felt that Kerviel’s losses were possible only due to the acquiescence of his superiors, who chose not to look too closely at his stellar track record. The beauty of that strategy, which we have witnessed on a smaller scale in the enterprise we worked at, is that everyone is happy while things go well. But if there is a turn of events to the worse, you can blame it on a rogue trader. Read the rest of this entry »


Executive Compensation 2.0: Porsche Leads By Example

December 19, 2007

Porsche (ticker: PSEPF) CEO Wendlin Wiedeking In a year where Home Depot (ticker: HD) Bob Nardelli’s $210 million golden parachute set a new record for pay without performance, Porsche (ticker: PSEPF) CEO Wendlin Wiedeking’s €68 million ($100.2 million) compensation contrasts as a precedent for good compensation and the alignment of shareholder and executive interests.

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