He might be a good CEO to his old employees. But he

is bad as a leader in public. In other words, he is a good manager but a bad leader. How come?

The reason is simple: If you are a good leader, people will follow you, believe in what you said, and repeat what you did. Let's say we follow Mr. Thain's footstep and give everyone in your bank a pat on the back plus up to $1 million dollar bonus at the end of year 2008! Sounds great? Then what would be the outcome? You can fill in the blank if you have third grade maths and common sense: a disaster for the economy!

In a nutshell, his year-end bonus giving is an indication of his refusal to accept his failure as a good leader! He could not fix the problem at hand. So instead of rallying the troop by proposing a rebuilding plan, he uses the only weapon he knows - monentary reward - to keep his job and image as a good manager. His stock is going down big time!

The most wanted characteristic of a leader is his or her willingness to admit mistakes and learn therefrom, not a talent for never making any or a blind eye thereto.


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