• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

2

'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032

3

Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there

1

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

2

'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032

3

Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there

Some advice for Mr. Gorman

By
Stanley Bing
Stanley Bing
Down Arrow Button Icon
By
Stanley Bing
Stanley Bing
Down Arrow Button Icon
September 11, 2009, 1:02 PM ET

James GormanHello, sir. I know you don’t start until January, and I’m sure there are a lot of people giving you guidance today, but I thought I’d offer a few tips as you prepare to ascend to the top slot at Morgan Stanley.

1. Say hi to people: Many guys suddenly get a big head on them when they become CEO, and forget all the little people who were their colleagues on the way up.  Don’t be one of those. A nice “Hi, Bob!” in the elevator can make an executive vice president’s day.

2. Don’t make any sudden moves: Everybody’s going to be watching you very carefully as you try to steer Morgan Stanley out of whatever incipient mess your predecessor created with all the help of his good advisors, yourself included. Don’t satisfy your urge to shake things up right away.  Listen to people. Then you can chop their ears off.

3. Eat a good breakfast: Breakfast is the most important meal of the day. Too many busy CEOs gobble a muffin before their 5:30 AM conference call and wash it down with a pot of scalding coffee. That’s no way to set up a successful 16-hour day!

4. Get a new wardrobe: True, you were already a co-President of the operation before this bump to ultimate power. But Presidential suits are not appropriate for a CEO. When you enter a room, the first thing people should say is, “Whoa. Nice suit.” I’m pretty sure they don’t say that now, because you had a boss who probably wanted that distinction for himself. That’s you now, sir!

5. DON’T give any interviews: Too many guys come in and start bloviating about what they intend to do. Then they have to do it. That’s most unfortunate, because people in business seldom do what they think they’re going to do even in the best of circumstances, and we’re not in those. Be quiet. If you must talk, talk to your hometown newspaper about your love of hamsters and go-carts.

6. Be inclusive: At the start of your term, people are going to be wondering who your “inner circle” is going to be. Don’t tip your hand. Of course, you’ll eventually execute a fair chunk of the remora who hung off the pelt of Mr. Mack. But you don’t want people to be too sure of where you stand for a while. This will make the entire executive team perky and nervous, which is a good thing during any transition.

7.  Don’t say anything bad about the prior Administration: This may be difficult, since you’ve probably been seething one level below for two years, waiting for your opportunity to do something different. But people hate to see their leader questioning the actions of the guy who use to be in his chair. It makes them nervous about the whole lines of authority thing, and doubt the solidity of their reporting structure.

8. Don’t say anything GOOD about the prior Administration, either: Beyond everyday lip service. You’ve been put in there because it was time for a change. So stately recognition of the greatness of the past is fine. Enthusiastic embracing of the days of yore (i.e. last week) is not.

9. Be kind to small life forms: They may take a thorn out of your paw one day.

10. Have fun! It will all be over before you know it, you know. Make the most of it while it lasts. And stay away from those risky financial instruments! I mean it!

To follow Stanley Bing on Twitter, go to twitter.com/thebingblog

About the Author
By Stanley Bing
See full bioRight Arrow Button Icon

Latest in blogging

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Most Popular

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
Asia
Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
By Kate O'Keeffe and BloombergJune 8, 2026
1 day ago
'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032
Economy
'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032
By Nick LichtenbergJune 9, 2026
15 hours ago
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
Success
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
By Preston ForeJune 8, 2026
2 days ago
Trump, who has repeatedly called climate change fake, is now threatening Brazil with tariffs over the deforestation of the Amazon
Environment
Trump, who has repeatedly called climate change fake, is now threatening Brazil with tariffs over the deforestation of the Amazon
By Sasha RogelbergJune 8, 2026
1 day ago
Current price of oil as of June 8, 2026
Personal Finance
Current price of oil as of June 8, 2026
By Joseph HostetlerJune 8, 2026
2 days ago
Current price of oil as of June 9, 2026
Personal Finance
Current price of oil as of June 9, 2026
By Joseph HostetlerJune 9, 2026
18 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.