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Subject:  Re: Bank One Article Date:  5/24/2002  11:50 AM
Author:  JeffInChicago Number:  17078 of 24357

Worst of all: CEOs of companies like Bank One are gluttonously overpaid and do NOT practice the Harry Truman doctrine, "The Buck Stops Here". They don't accept responsibility for the actions of their organizations, it's always a "pass-the-buck" game of pushing responsibility for problems back down the chain of command, and using legalistic excuses to ultimately evade responsibility for their actions.

I always enjoy reading SeattleNative's posts, which are usually very well thought out. I must say, however, that anyone who would write this knows absolutely nothing whatsoever about Jamie Dimon, Bank One's CEO. In the interests of fair disclosure, I am a Bank One employee. Let me tell you that Jamie is the kind of CEO that more organizations need. He accepts responsibility for everything in the organization. He holds managers accountable, and I am quite certain that the managers involved in this case will have to answer to Jamie. He is thoughtful, aggressive, and, unlike most CEOs of financial services firms, he truly cares about customer service. He believes in cutting buraucracy and red tape. I'm not saying that Bank One is perfect. We still have a long way to go. But significant improvements have been made in the two years that Jamie has been CEO.

As for Jamie being "gluttonously overpaid," I wonder if SeattleNative and the other Bank One bashers on the board are aware that for fiscal year 2000, because Bank One did not show a profit, Jamie forfeitted his bonus and asked other senior executives to do the same. He bought 2,000,000 shares of ONE with his own money, saying that corporate executives should have to "eat their own home cooking." In short, Jamie is a model CEO for a financial services firm.

All that being said, I still keep my checking account at FirstIB. Can't beat the interest rate and free bill pay!
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