By Frank Savage
BInspiring classes on enterprise and existence from Frank Savage/b Frank Savage's is an not likely luck tale. Raised in segregated Washington, DC, via his mom, a hairdresser and entrepreneur with little formal schooling, Savage's profession has taken him all over the world as a globetrotting financier. From his first banking task at Citibank to his present place as Chairman Emeritus of Howard college, iThe Savage Way/i �Read more...
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I’m on the board of Lockheed Martin, Qualcomm, and Lyondell Chemical. I have an agreement with my company that three public boards is the limit. ” I asked Spencer Stuart to identify the company, but the voice preferred not to do so, because I could not entertain the offer anyway. “Fine,” I said. “Well, you know, let’s talk six months from now. ” And that was the end of the conversation. It didn’t matter what the company was. I could not accept that board seat at that time. About six months later, Stuart did call me again about this mysterious company.
C01 29 September 2012; 9:10:39 32 THE SAVAGE WAY I set on a mission to set the record straight. People had to know what the professional, personal, and financial toll of the Enron scandal had been on me as one of its directors. For decades, I had stood proudly among the world’s most successful businesspeople in international banking, corporate finance, and global investment management. And I had stood practically alone as an African American in this international arena of megawealth and power.
C01 29 September 2012; 9:10:38 22 THE SAVAGE WAY The Enron situation was not a self-contained disaster. It went on to batter at the business world at large by, for instance, basically destroying the Arthur Andersen accounting firm. It was founded in 1913 and was one of the most respected companies in its field. ” In the early waves of the scandal, Andersen went from 28,000 employees in the United States and 85,000 overseas to around 200 based primarily in Chicago, fending off swarms of civil lawsuits and carefully dismantling itself.