The Coolest Way To Get A Job. BY FAR.

Honesty from Clay Bennett.

Check out more Clay here.

Smart Things People Do At Work - Acknowledgement.

The number one reason why people enjoy and stay at their jobs is not money. Of course you do work FOR the money, but when employees are asked about what motivates them about work - acknowledgement tops the list every time. Quick question: Do you regularly and specifically acknowledge your direct reports?

Regularly: Not once a year - a more frequent basis would suffice. Specifically: Not a generalized statement: "You're doing a great job!" But a more specific one: "The way you handled the meeting today - you've come a long way. I'm so proud of you!".

When it comes to acknowledgement, do these four things:

1. Gratitude: Show real gratitude and insert it into your acknowledgement.
2. Honesty: Be sincere. No joking. Don't be flippant.
3. Focused: Get them alone, or catch them off-guard — "I need to speak to you . . . "
4. Enthusiastic: Don't make it sound like they are being fired. Smile. Make them feel the energy!

And don't go around the table or office and acknowledge everyone at the same time — that defeats the purpose.

If you regularly and specifically acknowledge your direct reports, you'll find that you will have a more energized and determined team. And how much does it cost? NOTHING. Start doing it today.

Everyone For Themselves OR The Sinking Boat Syndrome.

Years ago (I'm talking 1970's - 80's), there was a common bond that held groups together. Things like citizenship, affiliations, or just plain ethics. Today, all I see in the media, business, and life is a habitual replaying of a sinking ship - everyone for themselves - and screw the rest.

We as a nation have to come to grips with reality - our family has been spending too much for too long - and the credit card is due. We can't flip the balance to another card - we have to begin paying down our balance or face bankruptcy, foreclosure and ruin. This is prevalent at the national, state, and local levels. Folks - there are three choices (and only three choices) when it comes to this situation:

• Increase money coming in (raise taxes).
• Decrease money going out (reduce benefits).
• Cut services (employees, depth & breadth of programs).

That's it. It's that simple. Unfortunately both political parties cannot bring themselves to make these hard changes. Why? Because they fear for their political lives AND hope that someone will come along with another credit card to help them bounce the balance.

From a business perspective, there are many managers out there that manage to save their own skin - and no one else's. They are risk-averse and toe the company line like a deer in the headlights. No innovation, no risk, no ideas - and they change direction as often as the wind blows to ensure that they maintain their bonuses and status quo. In business there are three states also:

• Growing
• Flat
• Shrinking

But I maintain that there are two - you are either growing or shrinking - up or down - because flat is not an option for long if you want a healthy company. To grow is to take risks, compete, try new things, grow successful programs . . . think different. I only see this happening in a smattering of large companies and many startups (who will probably eat the lunch of the big fish very soon  . . . Google?).

And this affects our homes, neighbors, friendships too. We are too busy, too unfocused to help one another. It's time we begin to reach out and personally help one another - that's why we are on this earth. Think about it.

I heard that many people are leaving the U.S. because they feel that the government, our states, and our cities are dysfunctional.Why not stay and try to fix it? They are more interested in saving their bank accounts so they can buy another boat.

Bottom line - stop thinking like you're on a sinking ship - because if you do - EVERYONE GOES DOWN. Trust me.

You Have To Listen - My Favorite Podcasts!

I began listening to the Radiolab Podcast about six months ago and I am riveted to every episode. RIVETED. Radiolab believes your ears are a portal to another world. Where sound illuminates ideas, and the boundaries blur between science, philosophy, and human experience. Big questions are investigated, tinkered with, and encouraged to grow. Bring your curiosity, and we'll feed it with possibility.

In late 2001, Jad Abumrad was asked to host a showcase of documentary radio. He called it Radiolab. For a few years, Jad picked pieces that he liked and played them on Sunday nights. Every so often, Jad would make his own story ... or conduct his own investigation...and include it in his show. More and more, Radiolab featured Jad's original work, and played fewer and fewer of his favorite documentaries from around the world.

Then one day in November of 2003, Jad was having breakfast with his friend Robert Krulwich. As Jad aired more of his own work, Robert was becoming impressed with how different and wonderful the show was sounding. On this November morning, Robert and Jad were discussing the mystery of how memory works, when one of them came up with the idea of taking that conversation into the recording studio.

Whether that idea came from Jad or Robert may be lost to the still-unsolved mystery of how memory works. But they went ahead and talked to some scientists, and Jad embroidered and illustrated the resulting conversations with sounds and music. Before long, Robert and Jad decided to team up and re-launch Radiolab in its current form.

Some great episodes: The Placebo Effect - My Favorite! Numbers - For Anyone Confused or Attracted To Numbers! Limits - Testing the Limits of Human Endurance Afterlife - What happens at the moment when we slip from life...to the other side?

Radiolab is heard around the country on over 200 stations. Check it out!

I Haven't Been Sick In 6 Months.

Sounds crazy, but it's true. Let me be candid — I can't get sick. I have 25 clients that need me everyday, I do workshops all over the country, and I am in the middle of writing a new book. Combine that with running a full-tilt business — financials, taxes, marketing, miscellaneous — and you have a recipe for disaster — if I fall ill.

That's when I met Susan Nisinzweig. She turned me onto nutritional supplements that have revved up my immune system that rivals my health when I was 20 years old. I've always taken vitamins and I try to eat well - salads, grains, fruits, vegetables, etc. But she introduced a vitamin pack that makes me feel indestructable (like Superman) when I am out and about meeting people. It's a bit expensive, but weigh that against 1-5 days down with the flu. I choose my Optimal Support Packets EVERYTIME.

Look, I shake a lot of hands, meet a lot of people, I have children (who are flu petri dishes all their own) - so I frequently got sick. Now that I take her Optimal Support Packets - I don't. It's that easy.

Here's the kicker - when you take a vitamins on a daily basis - you expel them when you urinate. When I used GNC Mega Men vitamins, my pee looked like Prestone anti-freeze. Not with Mannatech vitamins - I know my body is absorbing all the nutrients.

I know this sounds like a commercial - SORRY - but it is. When I run into something that WORKS - I want to scream it from the rooftops.

So check it out, you'll thank me.

The Most Important (financial) Book You'll Buy This Year.

I read LOTS of books. And it's funny - a lot of people are amazed at the number of books I read. I don't think I read a lot - but many people I meet think I'm crazy about spending time reading books. Candidly, I feel that it's a clear sign of the 'dumbing down' of America. People are 'shamed' into not reading - you should see the faces of people when I mention I read 3-5 books at a time and finish 100-150 books a year. "Don't you have better things to do with your time?" Candidly, I don't. And you should be reading too - start with this timely and powerful tome.

You need to get Enough - True Measures of Money, Business and Life by John Bogle. Why? Let William Bernstein tell you:

"If you are wondering about the cause of the current market crisis, then you haven't been reading enough of Jack Bogle.

Because he certainly knows not only where, but why and how. For decades Jack has been communicating his disquiet in previous books, speeches, and public testimony. Years from now, when historians and investors dissect the economic and market meltdowns of 2008, they'll consult this slim, well-written volume.

In order to understand the intellectual and moral platform from which he surveys the economic wreckage, you need to know a little of his story. Bogle founded one of the world's great investment companies, the Vanguard Group. Most men in his situation would have levered such success into a multi-billion-dollar net worth; instead, he "mutualized" Vanguard, converting it, in effect, into a nonprofit organization whose only goal was to benefit its fund holders. From an ethical perspective, Vanguard is the only "investment company" worthy of that name. (As opposed to most financial firms, which are in fact "marketing companies" whose main purpose is to milk unwitting investors of fees and commissions.)

The answer to the conundrum of 2008 lies in the book’s title, "Enough," which is the punch line from a delightful Kurt Vonnegut/Joseph Heller story. Simply put, our nation has been suffering from decades of unchecked financial excess, for which we are now paying the piper: excess in investment company fees; excess in financial speculation masquerading as diversification and innovation; excess in the salaries of top executives; excess in salesmanship; and most importantly, excess in the role played by the financial industry in our national economy and national life."

Go out today and get it - it will change how you think about business, your career, money and your life.

Stupid Things People Do At The Office – You Speak & Don't Listen.

This is a fast one - so keep up with me . . . Most bosses speak more than they listen. They think they know everything. They push their views onto their staff any chance they get. And that's STUPID.

1. Shut up.
2. If you must speak, ask questions.
3. Then LISTEN.
4. Ask more questions. LISTEN.
5. Then ask your people, "What do you think you should do?"
6. That's it. They don't want to hear your stories. They don't want you to tell them what to do.
7. They want you to guide them.
8. That means that you ask questions (to get them to think about the options), LISTEN (to give them time to weigh the options verbally), and then ask them what they should do (giving them the ability to guide their own work and empowering them).

When you do this - you are actually motivating your team - allowing them to take charge of their work. This also allows you to be part of the process - to gently guide them when they might go off course or pick them up when they fall down.

So next time you have an opportunity to pontificate - Shut Up, Ask Questions, and LISTEN. You'll thank me.

Stupid Things People Do At The Office - You Micromanage Your Staff.

Everyone hates micromanagers. Then why do we keep running into them? Why are they our bosses? It's like a bad stomach virus. If you are a manager, odds are that you micromanage someone, or some project, or some group. Why do you do that?

One word: INSECURITY.

You are probably insecure about something, someone, or some process that is either uncomfortable or out of your knowledge zone. And because it is, you spend more time than you need on it. Much more time.

How do you let go of that bicycle seat and let that person, project, or team ride off into the sunset? It's easy - you need to feel comfortable, not them. So do this:

• If it's a Person - there is probably something about them that you don't trust (because micromanagement comes from not trusting someone). Once you figure that out - let's say it's their attention to detail - work with them on this. Bring it to the forefront and discuss it with them. Give them more and more difficult  tasks that stretch their abilities. If they succeed, you can pull back. If they fail, you're there to pick them up (get that? let them fall!).
• If it's a Team - there is probably something about you that you don't trust. You need to see a coach and figure that out. Candidly, I've coached a lot of upper management types and when they suffer from micromanaging their team (feedback from a 360 assessment), they usually have deep trust issues (from being severely burnt in the past) and have to slowly reliquish control.

But that's easy. Start with your stars and give up control slowly. You'll see that you will have more time for the more complex parts of your job.

Enjoy the journey!

Stupid Things People Do At The Office - You're Always Late.

I know you're busy. We all are. Does it seem that you never get ahead of the curve? That you are always late for almost every meeting, appointment and even getting to work?

Let's look at why it happens in the first place:

1. You think you're special. You're not. You are just like everyone else. Start treating people with respect.
2. You're on a long-term ego trip. Even CEO's show up on time to meetings with the lowest employees on the corporate totem pole.
3. You want to look important. It doesn't make you look like "executive material" (i.e., no time for the peons). It makes you look like an ass.
4. You forget about the time. Sorry, that's not an option. You are an adult — start acting like one.

Get it through your head — you hate it when people are late for  you — don't do it to them. Being on time or early shows respect. AND - it allows the meeting to possibly end early.

Here are some quick tips to stop that from happening:

1. Set all clocks that you monitor 5-10 minutes ahead. I know that it's stupid - but it works.
2. Buffer time around meetings. If you bump one up against another, you won't have time to get to it. And you will then have time to hit the bathroom.
3. If you're too busy, try to cut out some lower priority meetings. See this post.
4. Get up earlier if you are always late to work. You miss the later traffic AND you get more work done before normal work hours begin.

Being late isn't a personality defect, most of the time, you just don't care. Start caring.

Stupid Things People Do At The Office – Work Overtime.

Statistics show that 75-80% of the corporate workforce works late 1-3 nights a week. Don't get me wrong here bucko — there are times during the year when you do need to work late — emergencies or a deadline deliverable to a client. Most of the time — working late is due to one of three reasons:

1. Poor Planning - On your part or your bosses. Remember the phrase: "Poor planning on your part does not constitute an emergency on mine?"
2. Time Management and/or Procrastination - You spend work time on unimportant activities and push the more important stuff to later in the day.
3. Showoff - The need to portray to management, the board, your clients, your peers, your staff, or even your family that you are a "hard worker".

Which one are you? Are you a composite of two or even three of these? I was. And it took me YEARS to realize this.

If you can't fit your position into a 40-50 hour window (that's working from 7 AM to 5 PM each day), you need to change a few things. So here goes (in no special order):

• You need to SDR - Streamline, Delegate, or Retire - You probably do too much. Leverage your staff and others to pick up the simple stuff. (check out my post)
• You go to too many meetings (see this post from last week on meetings).
• You haven't set specific boundaries with your boss. You need to train them just like a dog. I'm not kidding - if they try to catch you at 5:30 for an 'important talk' every night, you need to let them know that they can talk to you in the morning.
• Stop goofing around at work. No surfing, no personal phone calls, no wandering the office for casual conversation. Do your work! Check this out.
• Stop procrastinating. Work on the hard stuff first. Break it up into manageable chunks and get it done. Check this out.
• Leave at a reasonable hour. 5 or 6 PM is fine. I know people will notice. But at the end of the day, leaving work to get home for more important activities is critical to your long-term happiness. Work is important — but life springs eternal!

Stupid Things People Do At The Office – Eat At Their Desk.

Do you eat at your desk often? I know you do it. All the time. When 12 Noon rolls around, you think, "I can run down to the cafeteria, grab some lunch on a tray, and run it back up to my desk so I can catch up on email."

That's Stupid.

Candidly, you really need an extra 30-45 minutes to cover email? Email where 60-70% of it is unimportant? (read my previous post on email behaviors)

Here's an idea — go out to lunch. Meet someone outside of the company. Why?

• It gets you out of the building. Anything that changes your location changes your perspective.
• It gets you connecting with colleagues OUTSIDE of the company that you currently work for. You never know - you might meet someone that might offer you a better job. Or you might meet the perfect person to hire for that new project.
• You meet new people. New ideas, new viewpoints, new humor, new stories.
• You get to eat great food - the worst restaurant is usually better than the best cafeteria. Yum!
• You get to see the sun. Vitamin D - here I come!
• You breathe FRESH air. You get exercise outdoors. You might get a better parking spot when you return!

Bottom line — get out, connect with new people and you will see your career blossom. Stay indoors, cocoon in your cubicle, and you will see your career atrophy. Trust me.

It's Sunday — Get Philosophical — Get Reflective.

What's your Sunday going to be like this week? Running around shopping? Shuttling the kids to baseball, soccer, ballet, playdates? I'd like you to stop for a minute . . . Why do you think Sunday is called "the day of rest"?

Our lives are too busy today. Why? We tend to cram too much into our week AND we spend our leisure time on stupid pastimes like TV and surfing (the web).

How would you view your Sunday if you did this:

• Spent the day hiking up a trail and reaching the top. Sitting down and taking in the view for one hour.
• Sat out back on your deck and read a good book. Not a trashy novel, business book, or biography, but one that has deep philosophical meaning (and it doesn't need to be religious, but it certainly can).
• Taking your family where past relatives are resting in peace or going through a box of old photographs and telling them stories about their lives from memory.
• Attend a service - church, synagogue, meeting house, mosque . . . whatever. It will broaden your view of the world by experiencing different forms of philosophy.
• Just sitting on a park bench, taking in this spring weather, and marveling at the beauty of nature.
• Listening to music all-day long. Get out your old amp and turntable and play all those old albums.
• Working in your yard - gardening - getting your hands dirty with soil.

My charge: For one day a week, forget about the 'to-do's' and take time to get philosophical. It makes your whole existence more important and more powerful. And it gets you thinking about your role in the world and how you can help others. (That's the secret my friend!)

Stupid Things People Do At The Office – Take Work Home Over The Weekend.

Friday just flew by. And now you packed up your briefcase with folders and ran out the door at 7 PM. You're planning to do some work this weekend to catch up before Monday rolls around and you're behind the eight ball. First — Do you really need to bring the work home? Or do you need to be 'superhumanly' productive to succeed at work? Do you find that you ALWAYS bring work home? Make the hard choice - what would happen if you left those folders at work? Try it - you'll like it. Bottom line - you don't HAVE to bring them home EVERY weekend.

Second — Can you attack the work first thing Saturday morning? Get up at 6 AM and work until 9 AM - a three full hours. Then you have the rest of the weekend to relax and enjoy yourself. If you are like most people, you bring the work home and let it sit until Sunday evening and worry about it all weekend. Don't do that - attack it first thing and then have fun.

Third — Can you streamline your work down to a manageable hour? Instead of just diving into your work and watching the hours tick by - what is the most important thing that needs to be done and can it be finished within one hour? When we have an unspecified amount of time to work, we tend to meander and waste a lot of time. Give yourself a set amount of time (1-2 hours) and see how much you really can get done under a strict deadline.

Stupid Things People Do At The Office – Meetings.

What's the worst thing that could happen to you at work other than being fired? That's right going to MEETINGS. Just think of sitting today (on a Friday) cooped up in a windowless conference room at 3:30 PM for another hour. Lights dimmed, watching slide #65 with 15 bullet points? Droning voice? Closed door - really hot - the person next to you getting ripe? Is that what you dreamed about when you graduated from college?

Meetings. They suck the lifeblood right out of your body. Here's a little tip — don't go.

That's right. Flee . . . run away. You have better things to do with your time.

If you are an attendee to a meeting:

• Try to decline. You probably don't need to attend 25-50% of the meetings you go to. Why? Because most meetings are either superfluous or your attendance will not add any value to the discussion.
• Arrive late — Leave early. Don't just do this, it's impolite. Let the organizer and some key people know that you will be doing this. Then you still get the gist of the proceedings AND cut your meeting time by 25-50%.
• See if you can change the meeting into a short one-to-one discussion. 75% of meetings are too formal, go on much too long, and allow the more mentally challenged executives to run their mouth for hours. Edit it down. If all else fails:
• Keep the meeting on point. If the meeting organizer is not organized, you take the lead and keep people on point. They will love you for it.

If you are running the meeting:

• Cancel it. Do you really need to have this meeting? Can it just be a short conversation between 2-3 people?
• Shorten it. My experience in corporate (20 years) tells me that most if not all meetings are always too long. If you've scheduled an hour, make it 20 minutes. 30 minutes? Make it 15. Any more than an hour, shame on you!
• Get rid of the chairs. Make everyone stand around a whiteboard. Act like a sports coach - ask questions - make decisions. With no chairs, people will want to get out of there ASAP.

Smart executives regularly turn down at least 50% of the meetings they are invited to. That's how they have time to do all the cool things they want to do AND get their work done.

Love to hear your thoughts – comment below or email me anytime! – Rich

I Just Saw An Accident This Morning.

I commute every day on I-95, the most travelled highway in Connecticut. I was in the middle lane, trundling along at 60-65 mph, and the traffic ahead reduced their speed due to congestion (right around Westport). I hit my brakes and slowed my car down to a crawl. In my peripheral vision, I could see the other cars to my left (in the passing lane) do the same thing. Suddenly, an executive (he was wearing a suit) in a black Mercedes sedan moving 25-30 mph slams into the first of the cars on my left and begins a domino effect with four other cars.

It was like watching a movie.

No one was hurt — just shaken up. But it occurred to me that the Mercedes never hit their brakes — so they didn't see or anticipate hitting the car in front of them. The real question is: What were they doing instead of driving?

Texting? Changing the radio station? Talking on their phone? Reading the newspaper (I've seen this before)? Worrying about work? Worrying about his family? Marriage? He certainly was not concentrating on his driving. And that ruined at least five people's Tuesday.

We tend to get distracted often — based on inconsequential things. Nothing was more important at that moment than that driver operating his car. NOTHING.

How many times do you get distracted by the inconsequential? Pay attention — you'll go places. And not to the body shop.

Gratitude Should Be YOUR Attitude.

Most executives believe that their hard work — and only their hard work — got them to the position that they now sit. All the hours, all the meetings, the handshaking, the brainstorming, the late-night dinners brought them to the exact spot that they are in at this moment. Sorry to burst your bubble. But there's more.

Your colleagues. Many people that have worked under you, the peers beside you, and yes, the many bosses above you that helped you get to the spot you're presently in.

Time to begin thanking them. Take the next 30 days and each day, reach out to one of them with a 5 minute phone call and let them know how important they are to you. That's leadership.

5 minutes - it will make someone's day.

The Marketplace Is Changing - Are You Ready?

Over the past 3-4 years I've been watching massive changes take place in the marketplace. Some people see them, some people don't. Unfortunately, many people still act as if these institutions will go on forever. They actually disagree with me (even though they admit that the institutions are in severe decline) and come up with fanciful scenarios that somehow resurrect their position. So without further ado, here are my predictions that will change YOUR LIFE. (this is a long one - be patient!)

Music Stores

Let's start out with an easy one first. Ever since the first iPod, the writing has been on the wall with these stores. They originally handled the move from records to CD's back in the 80's easily, but now with the advent of much cheaper and faster access to music, their time is running out. As each new generational year becomes avid music listeners and purchasers, they turn more to digital and less to more expensive, less selection, and location-based stores.

The last store I went to (Cutler's in New Haven - a wonderful example of a great music store) had cut their real estate and selection in half. In addition, they had increased their inventory of DVD movies, small gifts, and iPod merchandise.

Prediction: I give this industry five years or less.

Movie Purchases & Rentals

This includes location based stores like Blockbuster and mailed-based companies like Netflix. Let's be honest — Blockbuster is toast. They have been making missteps for years now. And Netflix has been jabbing a shiv in their side to do it. Compare outrageous late fees versus renting the movie for as long as you like? It's not even fair.

Now Netflix is harder. They have a great service, incredible selection, and a broad business model. Ultimately though, the idea of mailing and receiving DVD's will become cumbersome in the light of digital transfer over the web (like they have started to do already). It's just a matter of time when they mail less and less and less.

Finally — DVD sales — it's already started. I was in Walmart the other day and saw that they cut down their DVD sales area and increased their "digital appliances" area. Most of their DVD's are at $5, in alignment with Blockbuster who is selling 5 for $20. These are the death-throes for DVD's. I don't think Blu-Ray will make a huge dent either - people are staying on the sidelines for that one too (I am).

Prediction: 2 years (Blockbuster, rentals) and Netflix mail delivery (4 years). DVD's as a format should take no more than 5-7 years to disappear.

Newspapers & Magazines & Books

This is an easy one - they are dying as we speak. If you can't get a magazine subscription for less than $10, you haven't looked very far. Newspapers are so small — advertisers are running away in droves - classifieds are gone (that was 30-50% of their revenue). The whole idea of printing, distributing, and selling paper when I have an iPhone, iPad, and MacBook - it's crazy. It's yesterday's news (catch this great Daily Show spot) that is being quickly supplanted by digital and video counterparts.

Think of students carrying the iPad - not lugging around all those textbooks. Businesspeople on planes and trains. Vacationers by the pool (whoops - maybe they'll have a waterproof one!).

Kindle. Ubook. iPad. Books . . . buh-bye! Which leads us to Bookstores . . . buh-bye! Which leads us to Publishers . . . buh-bye!  What? Publishers too?

New paradigm - authors hire editors to edit their book. The better the editor, the more expensive the service. No publishers. By the way - the idea that publishers actually 'market' the book - don't make me laugh. They only marketed it in bookstores — and oh yes, they are going away. Authors can build a bully pulpit on social media. Just like Abbey Ryan has done for her paintings on eBay. Check her out.

Prediction: Newspapers - 3 years; Magazines - 5 years; Books & Publishers - 10-12 years

Video Games (sold in stores on disc)

Akin to CD's and DVD's - their time is also short. My family are already downloading games on our iPhones (Madden football) - hopefully the iPad will accelerate the whole process. They've always been overpriced - and companies like GameStop are marketplace rip-off artists who take advantage of kids and willing parents. Hope to see them go ASAP.

Prediction: 5 years

Libraries

This is a tough one to write — but I will anyway (I'm going to hell for this one).

Have you been to a library lately? I rest my case. All kidding aside — libraries are wonderful centers of knowledge — but isn't our home or office computer a center of knowledge too? How many times have you gone to the library to find a book and it's just not there? You can place a hold on it, the person doesn't bring it back for decades, and when it finally does come back and they alert you — and your interest has waned. Libraries have tried to keep up — they've added videos and music and events and cappuccino and still these institutions are desolate (okay - there are some that do pull in the kids - but then they've turned into child care centers). You'll only find the errant senior citizen, transient, or unemployed worker. That's it.

And they cost a pretty penny to build, renovate, staff and run. MILLIONS of dollars. Add that most towns have multiple libraries coupled with every school having a separate library too and you are talking serious adult dollars here.

What would happen if everyone had an iPad? And the town digitized all books for "rental"? You can watch movies and music and do research (most good research today is also digital). Maybe the town invested in free wi-fi broadband for the entire town?

Prediction: 10-15 years tops

I know some of these predictions and assumptions might be way off - and there will be stragglers - but it's fun to put it out there and start a dialogue. So please let me know how you feel!

Time For Wall Street CEOs To 'Earn Back' America's Trust.

Bailout watchdog and Middle Class advocate Elizabeth Warren has accused Wall Street CEOs of abusing consumer trust and challenged them to step up and support financial reform — for the nation's benefit as well as their own. In an opinion piece to be published in Tuesday's Wall Street Journal, Warren writes:

For years, Wall Street CEOs have thrown away customer trust like so much worthless trash.

Banks and brokers have sold deceptive mortgages for more than a decade. Financial wizards made billions by packaging and repackaging those loans into securities. And federal regulators played the role of lookout at a bank robbery, holding back anyone who tried to stop the massive looting from middle-class families. When they weren't selling deceptive mortgages, Wall Street invented new credit card tricks and clever overdraft fees.

The Harvard Law professor and TARP overseer added that the bankers "squandered what little trust was left" when they took taxpayer bailouts.

The piece, titled "Wall Street's Race to the Bottom," explains how bankers can reclaim that trust. An important piece — read it.

The CEO Revolving Door Keeps Spinning . . .

From the "WOW - That didn't take long" department: "Former Merrill Lynch CEO John Thain is taking over as chairman and CEO of CIT Group as the commercial lender continues to restructure its business following a brief stay in bankruptcy protection last year.

As chairman and CEO of Merrill Lynch, Thain came under fire for having paid out $3.6 billion in bonuses to Merrill employees just before a BOA deal closed, and for spending more than $1 million to redecorate his office at Merrill, despite its massive losses.

CIT Group Inc., one of the nation's largest lenders to small and mid-sized businesses, said Thain will take the helm immediately. The 54-year-old replaces acting interim CEO Peter J. Tobin, who will remain on CIT's board. Tobin had stepped in while CIT searched for a permanent replacement for Jeffrey Peek, who retired as chairman and CEO on Jan. 15. President and Chief Operating Officer Alexander T. Mason, 58, is leaving the company Feb. 26. Chief Financial Officer Joseph Leone has said he plans to retire in April."

Looks like the rats are jumping ship and one huge rat is coming aboard.

How do they do it? Would love your comments . . .