If you were John Mack, CEO of Morgan Stanley, and Arthur Sulzberger phoned you to say he was planning on moving his family’s assets from you bank, how would you respond?
Managers must have the moral courage to stand up to threats, even those that can be costly to the firm. In this case, John Mack, the CEO of Morgan Stanley, should support his employee and use his position as banker of the Ochs-Sulzberger family assets to lobby for corporate governance reforms at the New York Times Company. He should not cave in to the threat from Arthur Sulzberger.
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