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The Potty Mouth of a Student Lender’s CEO
Albert Lord, the CEO of student-loan giant Sallie Mae has reason to be frustrated. A deal to buy the company fell apart. The stock is down by more than half from the price a group of buyers had originally agreed to pay for the company. He sold almost all of his own shares recently, which didn’t look like much of a vote of confidence at a time that he’s supposed to be rescuing the company. Investors are howling.
But then, at the end of a call with analysts yesterday, during which he noted that there will be metal detectors at the next investor meeting (presumably to keep people from shooting him and his executive team for screwing things up so badly), he signed off with the following:
“There are no more questions. Let’s get the fuck out of here.”
Our man Mr. Lord really thinks he’s king, doesn’t he? Investors put him in his place among the rest of us serfs right quick; the stock fell 21% yesterday. Incredible, given how much the thing has already tanked in recent months.
May we suggest that someone who talks to his investors this way (you know, the people he reports to) isn’t the sort of person you want as your lender? And that if this is how he feels about his investors, he probably has even less regard for customers calling on the phone to ask about the confusing world of student loans?
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Wow…Talk about Hubris. Sometimes it really amazes me the ego some of these CEO’s have.
Perhaps it’s a genius move to have people focus on his language, not his major screw-ups
A fiendish move indeed!
My understanding is that he was simply trying to maintain decorum, and that his message was directed only to two individuals that were fornicating in the back of the room rather than respecting his postion at the podium.
Run as fast as you can away from student loans. Unfortunately, many thousands of lives have already been ruined by Mr. Lord and his ilk, while politicians are still pushing education and student loans.
