Balancing The Role of Management in Extreme Financial
Turbulence
London, UK - 22 August 2007, 09:10 GMT
Dear ATCA Colleagues
[Please note that the views presented by individual contributors are not
necessarily representative of the views of ATCA, which is neutral. ATCA conducts
collective Socratic dialogue on global opportunities and threats.]
We are grateful to:
. The Hon Al McDonald, Chairman and CEO, Avenir Group, from Michigan, USA,
for "Balancing The Role of Management in Extreme Financial Turbulence."
Dear DK and Colleagues
Re: Balancing The Role of Management in Extreme Financial Turbulence
The recent ATCA exchanges concerning the present credit and stock market turbulence
have been highly enlightening and very thoughtful as usual. I have particularly
appreciated the in depth technical reviews of the current credit problems
by the ATCA Editorial Team, the mi2g Intelligence Unit and Dr Malmgren, whom
I greatly admire. At the same time it was refreshing to get the somewhat more
moderate response of Bill Emmott and his view that the extreme concerns expressed
may be "somewhat overwrought." I share his view and may even
be slightly more optimistic about the medium term, global economic outlook
and even prospects in the US.
[CONTINUES] [ATCA
Membership]
All the best
Al McDonald
The Honourable Alonzo McDonald is a former: US Ambassador, Chief US trade
negotiator, acting member of Cabinet, Assistant to the US President and White
House Staff Director. Alonzo McDonald has enjoyed a distinguished career in
business, government, and academia including being the Chief Executive of
McKinsey and Company worldwide. He is the Founding Chairman of The Trinity
Forum. Mr McDonald joined the faculty of the Harvard Business School in 1981,
and from 1983 until 1987 he served as a Senior Counsellor to the Dean, developing
and co-moderating their quarterly seminar for CEOs. He is also the First Becton
Fellow of The Yale School of Management. He is presently the Chairman and
CEO of Avenir Group, which is involved in development banking, investing and
acting as counsellors. Former directorships include The American Stock Exchange;
Bendix Corporation (Vice Chairman); CAE (Canada); Chicago Pacific Corporation;
Dannon Company (US); Diamond Bathurst; General Biscuits Company; Group Danone
(France) International Advisory Board; IBJ Schroder Bank and Trust Company;
Lafarge Corporation; McKinsey & Company (Chairman - Worldwide); and Scientific
Atlanta.
[ENDS]
We are grateful to:
. The Hon Al McDonald, Chairman and CEO, Avenir Group, from Michigan, USA,
for "Balancing The Role of Management in Extreme Financial Turbulence."
. The ATCA Editorial Team based in Canary Wharf, London, UK, for "Subprime
Crisis Spreads Across Regions and Financial Sectors;"
. Hervé de Carmoy, European Vice-Chairman, Trilateral Commission,
based in Paris, France, for "Role of Large
Financial Institutions in Fuelling Crisis;"
. Dr Jim Walker, Chief Economist, CLSA, based in Hong Kong for "China
Chaos and Subprime Butterfly;"
. Ashutosh Sheshabalaya, CEO, India-Advisory, based in Brussels, EU, and
Bassilly, Belgium, for "India turns History
Upside Down;"
. John Elkington, Chief Entrepreneur, SustainAbility, based in London, UK,
and returning from India, for "Mother Convulsion
- India's Third Liberation;"
. Stephen Lendman, based in Chicago, Illinois, USA, for "Slow
Motion Train Wreck" via Ashok Khosla, Chairman, Development
Alternatives, New Delhi, India;
. The ATCA Editorial Team based in Canary Wharf, London, UK, for "Market
Convulsions;"
. Dr Harald Malmgren, CEO, Malmgren Global, based in Washington, DC, USA
for "Federal Reserve's Changed Focus;"
. Bill Emmott, Director, UK-Japan 21st Century Group, based in London and
Somerset, UK, for "Japan's Strong Yen;"
. Dr Harald Malmgren, CEO, Malmgren Global, based in Washington, DC, USA
for "The Asymmetric Loss of Trust and Chain
Reaction;"
. The ATCA Editorial Team, based in Canary Wharf, London, UK, for "Public
Inquisition of Credit Rating Agencies may Accelerate Downturn;"
. Dr George Feiger, President and CEO, Contango Capital Advisors, based
in Berkeley, California, USA, for "Watch
out for Dramatic Winners;"
. The ATCA Editorial Team, based in Canary Wharf, London, UK, for "Systemic
Risk & Sectoral Meltdown: Heightened Correlation and Deleveraging;"
. Rudi Bogni, Chairman, Medinvest, and Director, Old Mutual, from Basel,
Switzerland, for, "Non-Stop Central Banks'
Intervention;"
. Dr Ravi Batra, Professor of Economics, Southern Methodist University,
Dallas, Texas, USA, for, "Towards a Global
Economic Crisis?;"
. Aurora Carlson, Founder, Open One Center, based on the West Coast, Sweden,
for "The Coming Storm of Change;"
. The ATCA Editorial Team, based in Canary Wharf, London, UK, for "Large
Quake hits Quants as Computer-Driven Quantitative Hedge Funds Short-Circuit;"
. Dr Harald Malmgren, CEO, Malmgren Global, based in Washington, DC, USA
for "Prolonged Credit Market Correction Ahead;"
. Prof Dr Norbert Walter, Chief Economist, Deutsche Bank Group, based in
Frankfurt, Germany, for "Economic Consequences
of The Sub-Prime Crisis;"
. Anthony Whitehouse based in Coppet and Geneva, Switzerland, for "Regulators,
Hedge Fund Lending and Cross-Selling;"
. The ATCA Editorial Team, based in Canary Wharf, London, UK, for "Perfect
Storm: Credit Freeze and Distress Selling by Hedge Funds;"
. Dr George Feiger, based in Berkeley, California, USA, for "Two
Faces of the Same Coin;"
. The ATCA Editorial Team, based in Canary Wharf, London, for "Contagion
and Systemic Risk? ECB Injects Record Euro 95bn post Major Disturbance;"
. The ATCA Editorial Team, for "Flight to Quality
as Markets finally Appreciate Risk;"
. Robert McNally, Chairman, London Chamber of Commerce Property and Construction
Group, for "Erosion of Commercial Real Estate
as a Solid Asset Class;"
. Alexander Hoare, CEO, C Hoare and Co, Private Bankers, based in the City
of London, for "Destructive
Creativity, Leverage and The Derivatives Market;" and
. Dr Harald Malmgren, CEO, Malmgren Global, based in Washington, DC, for
"The Fear of Central Bankers -- Flight from
Illiquidity, Derivatives and Heightened Risk of Contagion;"
in response to, "Are the Currency Markets Warning
that there is Trouble Ahead? The Precipitous Decline of the US Dollar and
its Impact on the World."
We look forward to your further thoughts, observations and views. Thank
you.
Best wishes
For and on behalf of DK Matai, Chairman, Asymmetric Threats Contingency
Alliance (ATCA)
ATCA: The Asymmetric Threats Contingency
Alliance is a philanthropic expert initiative founded in 2001
to resolve complex global challenges through collective Socratic
dialogue and joint executive action to build a wisdom based global
economy. Adhering to the doctrine of non-violence, ATCA addresses
asymmetric threats and social opportunities arising from climate
chaos and the environment; radical poverty and microfinance; geo-politics
and energy; organised crime & extremism; advanced technologies
-- bio, info, nano, robo & AI; demographic skews and resource
shortages; pandemics; financial systems and systemic risk; as
well as transhumanism and ethics. Present membership of ATCA is
by invitation only and has over 5,000 distinguished members from
over 120 countries: including 1,000 Parliamentarians; 1,500 Chairmen
and CEOs of corporations; 1,000 Heads of NGOs; 750 Directors at
Academic Centres of Excellence; 500 Inventors and Original thinkers;
as well as 250 Editors-in-Chief of major media.
The views presented by individual contributors are not necessarily
representative of the views of ATCA, which is neutral. Please
do not forward or use the material circulated without permission
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