October 30th, 2007

Stan ONeal forced out, 157 Million will help in transition, what about you?

Stan O’Neal was forced out as CEO of Merrill Lynch. I have wondered about black CEO’s of white firms, how they can possibly survive in a racist business world. I have lived in a corporate world and had jobs previously reserved for white only. I have learned no matter the position or your track record, if you are black and in charge there will be white folks that want to bring you down.
Mr. O’Neal is a super star in the world of high finance and could not have gotten to the top job at Merrill Lynch unless he was aggressive and extremely talented. He has never failed at anything but now he is out. Get Serious!! Don’t you think the stereotypes of race may have contributed to Mr. O’Neal perception of being a poor leader? He is being dragged through the mud and it appears a mini revolt was about to take place. Have you ever heard of this happening to a white CEO?
Do not feel sorry for Mr. O’Neal, he made in the hood of 42 million last year and has a severance of 157 million. He will survive quite nicely.
What about you, us, all black workers in an environment where racial haters and conservative politics make all black workers vulnerable.
There is a point during Baptist funerals where the preacher will say, do not worry or feel sorry for the departed, they are in a safe place, it is now time to get your own house in order, and accept Jesus as your personal savior.
Black in business people, it is time to get your affairs in order, most of us do not have the equity Mr. O’Neal enjoys in his firm. Make sure you have plans for the day when Mr. Charlie may knock on your door and question your effectiveness. Please do not think you are beyond this happening. I can assure you, if any white person has an axe to grind with you, you are vulnerable. People below you with less experience and accomplishments can have more credibility because of skin color.
Let’s look at Colin Powell, he wanted to go into Iraq to get Sadamn during the first Gulf war and was not listened to. He wanted a diplomatic solution to the issues that lead to the current war and was not listened to. He was forced to lie to the UN regarding our reasons to go to war, eventuality he was forced out.
All the white folks will have to want you in your high ranking job in order to stay in. There is very little talk of affirmative action today and we have many conservative Appellate judges appointed by Presidents, Reagan and Bush and now son of a Bush.
Black workers we are in trouble. Do not give up but keep your eyes open and develop options for yourself. I am very interested to your thoughts on Mr. O’Neal firing and the tone of this post. Keep Hope Alive.

7 Responses

  1. Michele Says:

    What about Richard Parsons also being pressured to leave his position as CEO at Time Warner, talk about some racist BS! I’m pissed but I hope they take their talent and money and put it to good use. More African Americans should look into entrepreneurship instead of working 60+ hours a week to make someone else rich…slavery is over!

  2. AroundHarlem.com Says:

    If only I had read your advice a year ago, I’d be much better off today.

  3. Jim Walton Says:

    Michele, I heard about Parsons as well, he and Stan are loaded and it will be of interest to see what direction they go in.

  4. Jim Walton Says:

    April, you have it going on, I want to post about your site and vision!Thanks for stopping by

  5. AroundHarlem.com Says:

    Thanks for taking time out to view the site.

    We’re still in our early stages so stay tuned for great things. :-)

  6. kevjohn Says:

    I was a supporter of O’Neal’s until now. I simply don’t believe in blindly supporting people, no matter what happens. I know all the problems at M-L weren’t his fault, but a lot of them were. Did you actually read the article that you linked to? Some of the language seeme d a bit… condescending, but I believe the facts to be accurate. I’d hope that any CEO who led their company the way M-L has been run recently would get the boot. Unfortunately that doesn’t usually happen.

    I’m glad he’s out. But I’m also glad he got the standard, ridiculously high buyout too. :)

  7. Jim Walton Says:

    I do not think a smart CEO would make business moves with out the support of the board, I did read the article and it seemed like one side of the story. My concern is not of O”Neal, it is the people that often get pushed out and are not ready. I agree we cannot blindly support O’Neal or anyone,except OJ, joking, but there is a history of unfair treatment in the work place and my hope is for us black people to prepare for the worst.
    Thanks for your thought proving comment

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