What To Look For Tomorrow On Duke Street:
 |
| Now stay focused..!! |
NCUA's proverbial "Kodak Moment" may occur sometime around 10:30 am on Thursday morning in Alexandria - January 15, 2015.
That K-Moment may well mark "the beginning of the end..." for the independent federal credit union agency. One can always hope for a last minute reprieve or for more reasonable minds to prevail; but with the current "Duke Street Bungling Blues Ensemble" on deck, everything appears to be a crap shoot, with their fate determined, perhaps, by a simple mis-roll of the thrice... "pride goeth before the fall".
But before we discuss the upcoming Kodakalypse , guess we should take a second or two to review what a "Kodak Moment" means. As most of you know, not too long ago Kodak completely dominated the world market for photographic film for cameras. Kodak was a globally recognized brand name on a top-tier par with the likes of Coca-Cola, Ford, or McDonald's. Highly profitable, world class company, reputation par excellence !
But in the 1970's Kodak literally made a fatal strategic mistake, which destroyed the company. Errors in judgement of such magnificent proportion are now known as a "Kodak Moment" - a fall from the top to the bottom at a frightening velocity; a plunge into a "black hole"vortex; a one-way death spiral, no return address needed.
 |
| Get the picture ? |
President Nixon, Democratic presidential candidate John Edwards, the country music group "The Dixie Chicks", golfer Tiger Woods have all experienced a professional "Kodak Moment" !!
Do you know how Kodak blundered....?
.... their leadership had become dangerously isolated from the "real world", complacent, inbred, had all the "right answers", and no longer tolerated opposing opinions.
Kodak, while it completely dominated the world market for camera film, also owned the initial patent/licensing rights for a "new digital technology" for creating photographic images electronically. The leadership at Kodak decided to "robustly" pursue the past, rather than listen to "a different idea". Folks who worked at Kodak still argue endlessly as to whether the Board and management missed the "digital camera revolution" as the result of arrogance, or as the result of incompetence, or both; but no one denies that they "missed the boat" and sank the Company.
 |
| Regulatory "K"-ervorkians? |
.... and what strategic error could NCUA make on Thursday that could have such a devastating impact on credit unions?
Well here's a hint...
 |
| Watch the "Spin Cycle" over at the Laudromatz on Thursday!!! (See if they come clean...) (It's gonna be all about attitude - theirs!) |
9 comments:
RBC KODAK MOMENTS WE WOULD LOVE TO SEE:
Matz announces withdrawal of RBC rule.
Metsger,with the strings cut, votes no.
McWatters again survives verbal assault to standing ovation.
CUNA and NAFCU join together to file federal lawsuit challenging NCUA's alleged RBC authority.
Congress schedules hearings on NCUA abuse of authority. Jim Blaine called as first witness.
Amazing comments from the Vice Lapdog in CU Times (see below)! Chutzpah is another way of saying Kodak Moment. Metsger's spin stating that thoughtful comments were incorporated into the regulation is proof positive that he is nothing but Matz's (B whoops!) lapdog. His quote in the article is arrogant, insolent, imprudent and improvident. The "...results of some of the thoughtful comment" is a window to the soul of political hack. They dismiss the comments that they do not agree with. This blindness contrary opinions leads to the "Kodak Moment".
Kodak's board only listened to what they wanted to hear. Willing to bet someone advised against selling the patent rights on digital technology.
Matz's has her mirror on the wall and a Lapdog vote. The stage is set for a "Kodak Moment".
What will actually surprise credit union people is that Metsger actually shows up at the board meeting a does meaningful for the industry.
http://www.cutimes.com/2015/01/13/ncua-schedules-rbc-webinar
Hey Lapdog!
Hopefully you take to heart two comments about RBC: First, RBC is unnecessary! Second, RBC is uncalled for!
When Metsger arrived at NCUA he was summoned to the woodshed where he was instructed what he role was to be, what he could say and how he would vote. As a good soldier he listened and followed orders. As a result he received a coveted title. And all he needed to do was sell his soul,forget whatever principles he may have had and follow the script he is given. Let's hope the League that sponsored him and the the leaders in the industry that praised his appointment are happy.
Well! Haven't personally ever met Mr. Metsger (nor Mr. McWatters for that matter... the invitations to visit NCUA have become, shall we say, infrequent!), but it is an interesting thought that each individual Board member is not an independent thinker, an independent voice.
Believe Mr. Metsger's first vote in approving RBC #1 might be forgiven for his newness to the job at the time. No slack given on this vote however since the controversy has raged for almost a full year, with no other issue having priority in terms of importance.
As to Mr. McWatters, he clearly does his homework and appears to be a voice of reason, regardless of the politics.
Chair Matz, of course, sets the agenda, the tone, and the acceptance level of discussion. RBC - one way or the other - will be her legacy as a leader. Perhaps the Chair will step up to save her name from RBC #1; let's hope so!
Then there is the staff... think you might have fun playing last year's video of Mr. Fazio's 2014 unquestioning defense of the empirical correctness of RBC #1.... right before you listen to his 2015 explanation of the wonderfulness of RBC #2 at the NCUA webinar on Jan. 31.
Watching them both should make you feel like Salvador Dali... very, very surreal! Might even get an unusual opportunity to watch folks speak out of both sides of their mouth at the same time!
Can hardly wait. How about you?
Surly your lack of an invitation is an oversight!
Check you inbox frequently! Surly the invitation will show up any day now.
Holding your breath is not recommended.
Suspect if I do get an invitation at this point it will be "surly"... for surely some folks do fail to see the humor in our collective RBC dilemma.
With tomorrow's NCUA Kodak moment, expect a lot of negatives.
NCUA is populated by a bunch of bi-polaroids, just take a look at the Board.
Post a Comment