We should ask, though, why would anyone assume we are better off leaving an institution under the control of failing managers, dealing with the large volume of "toxic" assets they created and coping with a raft of politically imposed controls that would be placed on their operations?
His fourth acquisition was for $1 a 70% share of First Reserve, a failing investment manager that mostly lent cash to small oil and gas companies.
After failing to please Manager Lou Piniella, he was traded to Houston after the 1993 season, broke into the Astro rotation in 1995 and went 48-21 over the past three years.
In the frenzied final days of New York City Opera, when it was becoming clear that an urgent drive to raise $7 million for its very survival was failing, the general manager, George Steel, found himself scrounging for money wherever he might find it.
The referee wouldn't issue a red card – so players aren't suspended for a collective failing – but the manager of the offending (or over-defending) team would be obliged to take off one player.
The view from the stands is that the new owners loaded United up with debt and, far from investing in the future, are failing to provide manager Alex Ferguson with the money needed to rebuild the team.
In the private sector, failing organisations and managers are driven relentlessly out of business.
D&O covers the legal consequences of managers failing in their duties.
Managers failing to inform HR of starters, leavers and changes, HR failing to act on them, or timesheets not sent to payroll cause stress and distress to staff.
He said there is a precedent for grid managers failing to stop a cascading series of transmission lines, which then spread from one region to another, notably the 1996 blackout that hit most of the West Coast.
