Any experienced investor could give a dissertation on the utmost importance of good senior management toward the success of any enterprise. This seems to be lost on the Boards of Directors of both Citigroup Inc. (NYSE: C) and the New York Knickerbockers NBA franchise.

Last week the Knicks suffered another embarrassing moment during the reign of Isaiah Thomas as General Manager and Coach of the team. A jury awarded a plaintiff $11,600,000 in a sexual harassment case against Thomas and the Knicks. Thomas has squirmed around in the executive suite for a long time, and after numerous bad trades and draft picks, he let a great coach go only to decide to pace the hardwood himself. After all the wheeling and dealing, it is long overdue for a change at the top of the Knicks organization. My comment comes at the end of a long list of people that have been saying the same thing for years -- but now the feeling is almost unanimous throughout the sports world.

Continue reading Sunday Funnies: The Knicks & Citigroup (C) need a major overhaul

Sunday Funnies: The Knicks & Citigroup (C) need a major overhaul originally appeared on BloggingStocks on Sun, 14 Oct 2007 17:10:00 EST. Please see our terms for use of feeds.