December 29th, 2001, 4:40 am
>I keep thinking about Enron....>dog eat dog....>"AAAAAFLAAAAAC"Anyways, some of the juicy gossip, masquerading as serious journalism, is starting to leak out via Fortune magazine about Enron. Seems that a certain executive, ex of McKinsey [aka God's consulting firm when he has a tough problem] instituted a 20% weed out rotation policy. ie rank the workforce and fire the bottom 20%.As background for all non-capitalists reading this, many fine firms have built large market capitalizations using this method. Oracle was ruthless in ranking and firing bottom performing sales people every quarter. Xerox put such pressure on their sales people that a best seller purported that sales people would throw up into wastebaskets beside their desks in between phone calls from the intense pressure to perform. Sort of like the movie GlenGarry Glenn Ross but without all the tender moments.So, this caused me to thinking. If a former bloodthirsty consultant invades your particular investment bank and institutes a similar policy but cranks up the percentage to say 50% or more, do you think that the pressure would get so intense that people would start eating each other?I don't either, but just think of the fun rumours that you can start.