What are its components? Extreme politics? Nepotism?
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I’ll paraphrase Terry Murray, “why pay for A level service when B is good enough”
Green Grass at Fleet Albany!!
I am a former fleet employee still with the Bank. My platform is a fleet Bank. They are cheap! That is the fleet platform. In the past my team would go to Christmas lunch, and we all paid for ourselves. Enough said!
“Fleet Culture”-synonym for 0 culture
0 integrity
0 loyalty
0 accountability for anyone in 'upper' management
0 competency
say whatever you need to whether it's true or not
su-k the company dry of money and resources and move on to the next host
Top Execs = Fake It Until You Make It.
Middle Mngt = Kiss azz, suk up, don't challenge authority, keep your people in check.
Minions = Do as you're told. No excuses.
Execs who know nuthin' about the businesses they "lead", but paid a sh!t ton and don't pay us.
You want to know what the Fleet Culture is? I’ll tell you. It’s no different than the Wachovia, Washington Mutual, National City, Enron, etc… culture. It’s the “tell them it’s fine, regardless” culture. Want proof? BM on CNBC saying that BoA sees the consumer as remaining strong and confident. Yet, almost weekly, national retail chains file bankruptcy, Michigan Consumer Confidence index is extremely low, economists (regardless of political party) saying rough seas, and even the President of the United States saying we’re going to have some disruptions and pain points. Yet, the CEO of Bank of America goes on TV and sings a rosy picture that goes against all of it. THAT is the Fleet culture, right up to the very end when they’re in front of Congress again for overheating and reckless financial behaviors in the corporate debt market, which is exactly what has been occurring for the last few years. Even the WSJ picked up on it not too long ago.
Lack of true leadership.
Mandated blind obedience disguised as "loyalty". No questioning authority.
Pay for performance is long gone. Just pay the CEO and his cronies.
The rest of us are just cattle now.
While Brian has done a good job navigating the company out of the Financial Crisis --following Ken Lewis' greedy misguided (and disastrous) acquisition of Countrywide right before the subprime real estate meltdown -- Brian has a blind spot for the people he chooses to surround himself with.
His former Fleet DRs -- and many of their Favorites -- are completely incompetent. They only get by on the backs of their teams, who somehow keep things running despite lack of leadership. If BTMs m0r0ns worked at any other institution (who would even hire these imbeci!es?), they would completely fail.
They are mean, dark souls who have diva tantrums (looking at you, D.A., K.K. etc.) and scream when they become frustrated by their own incompetence in not knowing how to actually manage or understanding the LOBs they are asked to "lead".
They treat their people horribly. Truly demeaning environment. It's that heaviness that pervades all our jobs every day. Think about it, that dread, you know what I mean. That's the culture -- it starts at the Top.
It is a culture of pure Favoritism to those who suk up to the leadership team. Forget getting ahead by working hard and being good at what you do. Not a meritocracy at all.
These former Fleet leaders' mean, belittling behavior is then paid forward by the senior management, who treat middle mngt that way, and then they treat the rest of us badly.
The minute BTM is out, they will either be unmasked by their incompetence or cannabalize each other. They can't stand each other. The only thing they have in common is their loyalty to their Golden Goose (Brian), their ambition and their greed.
Hopefully, one of the non-Fleet -- like AB -- are promoted to steer the helm next round. THAT would be meaningful progress. Stock price would soar.
Long ago, my wife's aunt was Admin on the top floor at Fleet Center, and one Sunday she took us up to have see the fantastic view, plus the furnishings and carpets reminiscent of Louis XIV. Very nice. Expensive.