Wednesday, August 25, 2010

Michael's Return to the Main Event?

A high-powered CEO doesn't stay on the canvas for long:

Michael Eisner is not a man with many close friends. But John Angelo is one of the few.

Angelo is co-founder of hedge fund Angelo, Gordon & Co., one of the senior creditors in the complex Tribune Co. bankruptcy. And he's the person who approached Eisner about joining the board of a reconfigured Tribune Co.

Formidable legal obstacles must be overcome before new management can be installed at the troubled media company. But Eisner, formerly Disney chairman and CEO, is in talks to become chairman of the board, possibly with former colleague Jeff Shell, now president of the Comcast Programming Group, as his CEO. ...

It's fine to be a guy with lots and lots of money, but at the end of the playing season, it isn't about the money. Nor even the perks.

It's about exercising power and being in the center of the action, about having that corporate jet at your beck and call. About being an important, mainstream player again.

Long ago, one of the secretaries who arrived with Disney's new management team from Paramount/ Warners said to me:

"These guys can never have enough. They look at the Bass Brothers and their billions, and they are just green with envy ..."

7 comments:

Anonymous said...

God, I can't stand Eisner. The only Disney big-wheel I despise more is Iger. Why does Disney have to be run by freaking big-money boys, instead of someone with guts and a vision? I realize that Walt can never be fully replaced, but it'd be nice if someone could be found who's at least a reasonable facsimile.

Anonymous said...

Unbelievable................poor animation business.

Anonymous said...

Eisner used to be a....reasonably competent ABC executive before pretending to be Walt--And as long as he has his legal never-darken-our-doorways restriction with Disney to keep his stock holdings, who cares if he gets a paper route or elected dogcatcher?
Like when Paul Pressler got that job with the Gap: As long as he's happy where he is, let him stay happy...THERE.

arrggg! said...

It is this people who have destroyed the economy. greedy CEOs who think they are gods.

To hell with them!

Floyd Norman said...

"To hell with them?"

I'm afraid Satan would turn them away. He hates competition.

Anonymous said...

Failing upwards. Hell, bush did it--why couldn't Eisner?

Pixie Arrhh said...

"Like when Paul Pressler got that job with the Gap: As long as he's happy where he is, let him stay happy...THERE."

Pressler is no longer running the Gap...

He was fired.

He then became head of Avon.

He was fired.

Too bad Eisner didn't realize what a horrible manager before he put him in charge of the theme parks. We got a decade of really bad baggage that is still being cleaned up. Luckily, the guy there now seems to be far better than either Pressler or Rasulo.

I happen to not hate Iger like some of the people here. He's been pretty hands off so long as the divisions perform. He's not a micro-manager the way Eisner was. He realizes he's not a creative person and lets them work on it while he deals with the business side.

I don't blame him for WDAS's disappointing results since Lasseter arrived. I don't even blame Lasseter. It takes a great while to climb your way back up from being down so low and eventually it'll happen.

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