Sunday, November 21, 2004

A capitalist bow

It is a remarkable photograph: Chuck Prince, the CEO of Citigroup, and one of the most powerful corporate executives in the world, bowing in apology at a news conference in Tokyo. To those who think this was a mere show of contrition, read this excellent interview in Fortune by Carol Loomis, where Prince is refreshingly forthright about the failings of his company over the last years, and what he’s doing to put things right.

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