In June of 2023, New York passed non-compete legislation banning almost all non-competes in the state. New York joins many other states that already have a full or partial ban on non-competes. “Only free men can negotiate. A prisoner cannot enter into contracts.” -- Nelson Mandela There I was in an important board meeting with one of the nation’s largest...
“It is impossible to live without failing at something unless you live so cautiously that you might have not have lived at all… in which case, you failed by default.” -- J.K.Rowling * * * I truly had the greatest dad ever – “Big Jim” Longnecker – four-sport, four-year letterman in college and recruited by the Cleveland Indians and Tris...
“Sometimes reality is too complex. Stories give it form.” – Jean Luc Godard I remember reading that people crave and seek out stories almost as much as food, clothing, and shelter. This is so true! I am a storyteller; always have been – always will be. It is the primary way I communicate, whether with my family, my clients, and/or...
I still remember the phone call like it was yesterday; I was 30 years old and in line to be a partner at KPMG Peat Marwick up in Dallas. The voice on the other end said: “Mr. Longnecker, Herb Kelleher, Southwest Airlines, I hear you are the best executive compensation consultant in Texas.” He paused. I thought for sure that...
Einstein once said, “What good is a reputation if not put to good use.” Years ago, my wife heard me share with several CEOs that the most important asset they had was their reputation and that my job was, as an advisor, to not just keep it intact, but do what I could to increase it. Shelly was so excited,...
I once had one of my consultants tell me that “experience was overrated”. I was shocked he said that, but probably was simply an insecurity he had since he had only been in management consulting for 10 years. The client he said this too though, was equally shocked and proceeded to explain to him what clients look for in their...
Clawbacks are the recovery of money already paid to an executive, usually due to poor performance and illegal/immoral misconduct. Typically it is a contractual provision whereby an executive must return monies already paid back to the employer. Most companies use clawback policies in executive employment contracts for short- and long-term incentive plans. It’s a way to keep every leader “honest”...
I have worked for years w/ the IRS, FBI, DOJ, and so many more companies and agencies - over 6000 - it would make most people's head spin. Probably 70+ percent of the time, it centers around the VALUE OF A CEO! And everyone has an opinion. Further, the hard fact is that only some people will ever have the...
Years ago, my long-time friend and client, Herb Kelleher (the late CEO of Southwest Airlines), shared my talents would be best received as an entrepreneur, and that having my own consultancy would be best. At the time, I had been with him for years while the National Partner at Deloitte. I was nervous, but I will be forever grateful, for...
Crazy high inflation, rising interest rates and total economic uncertainty abounds this holiday season. It’s been a long time since I have seen this type of uncertainty in the markets and in Corporate America… everything is so fluid. In my 40 years as a consultant though, one thing I have seen is HR departments wanting to adapt as quickly and...
An interesting SEC fact: The first Commissioner of the SEC was Joseph Kennedy (the father of Jack, Bobby, and Ted). FDR tapped him since he knew how to manipulate markets, and FDR wanted him to take that knowledge and figure out how to protect the U.S. markets after the Great Depression. The ’33 and ’34 Acts, which are the foundations...
"It's not happy people who are grateful. It's grateful people who are happy." This is so true. Research has proven that gratitude is essential for true happiness. However, today is so rampant with entitlement that gratitude has regressed into just a mere feeling versus a virtue that leads to action. Ungratefulness is the failure to acknowledge a favor and feel...
