It’s that time of the year. And by that time we mean the beginning. But also the time of year when the lack of business news means the business media turns to lists to generate stories. The top 7 business stories of 2007. Best 8 investment ideas of 2008. The worst 20 things on Wall Street.
We’re hardly above this type of artificial story generation. Indeed, we’re busy as, well, bees at the height of honey season (whenever that is) putting together our list of top stories from the last year. (Send your nominations to tips@dealbreaker.com with the subject line: “Top Stories.”) We’re also going to put together a couple other special features to make up for the lack of stories other than “oil is, like, totally close to $100 a barrel.”
But in the meantime, we’re keeping our eyes on everyone else’s lists and other “of the year” features. Let’s start with Business Week’s “Business Person of the Year.”
After the jump, we reveal BW’s winner and why we think Jamie Dimon was totally robbed.
The envelope please. And the winner is…cue drumroll (for readers who haven’t yet looked at Business Week, and, really, who among you has)…Mark Hurd, the chief executive of Hewlett-Packard. Hurd wins for being a “low-key executive” who “doesn’t chase the limelight,” a “no-nonsense operator” who is helping turn around H-P’s “struggling business.” Oh, and he’s got “laser focus” just like a laser printer. In other words, he wins for being totally boring but still making money. And probably for not spying on H-P board members and journalists.
Okay. We’ll give it up to Hurd for crushing Dell, and refocusing H-P on what it does best—concentrating on PCs and printers. The company shed its digital camera operations, and a few of its acquisitions—web printer Tabblo comes to mind—were in line with its focus. But VoodooPC? Is H-P really going to conquer the “gaming market?” Do serious gamers even use PCs anymore? Wii have no idea but it strikes us as unlikely.
Jamie Dimon was named as a runner up but he might want to demand a recount. Where many banks have stumbled in the credit markets, JP Morgan Chase has merely slowed. The company wrote down only $1.3 billion of its leverage-loan portfolio in the third quarter, which is chump change in the modern world of double digit write-downs. And his investment banking business is exploding. What’s more, he’s a lot less boring. They say Dimon has a “payback” list in his breast pocket—some say the list is of people who owe him favors, some say its more of an enemies list. If it’s the latter, he might consider adding the BW editors to it for this slight.
BW's Businessperson of the Year [Business Week]






Posted by nm , Jan 03, 2008 11:09AM
that post was, like, totally written by Levin
Posted by , Jan 03, 2008 11:19AM
Did Ron Paul make the list?
Posted by Anonymous , Jan 03, 2008 11:27AM
This doesn't bring me no joy..
Seriously it doesn't..
But it was foretold.
ps: thats just to make us all feel better..
Posted by , Jan 03, 2008 11:35AM
Why does Dimon deserve the prize? Maybe cause we live in NY and are overly focused on financial services? Plus tech is not the force it used to be in the headlines. Bottom line though is that there's a big industrial economy out there too, which, though not as glamorous or well paying as finance and media, is run by many competent people.
Posted by , Jan 03, 2008 11:50AM
should've gone to Anthony von Mandl, founder of Mike's Hard Lemonade Co.
Posted by tiger , Jan 03, 2008 12:18PM
my vote is for seth tobias...
someone elses list of top 2007 biz stories
http://blogs.bnet.com/intercom/?p=1464
saves you the trouble
Posted by inIT4the$ , Jan 03, 2008 12:34PM
BW is possibly the worst business mag out there (yes a little hyperbole is in order)!
Posted by , Jan 03, 2008 12:50PM
11:35 dimon because he did a good job in the toughest business sector of the year, as opposed to hurd who while good is also the ceo of a company in a very relatively easy market right now, i think is what john is getting at.
Posted by Anonymous , Jan 03, 2008 1:04PM
OG, I think I wore all my clothes in reverse today..
either I will have to reread everything twice or I need to another shot...
ciao..
Posted by Mr. Accretive , Jan 03, 2008 1:45PM
Hurd is the guy who told Congress he wasn't aware that there might be a problem with looking at other people's phone bills.
Posted by anon , Jan 03, 2008 1:59PM
Giving it to the head of a tech firm like HP is silly. But it shows how BW is way out of the loop.
I'd say maybe John Thain for setting up the risk management system there that helped GS to avert a lot of the damage encountered elsewhere in the sector. But Dimon is a great guy, and I think Bookstaber (from "A Demon of our own Design") would concur. I'd even give the award to Bookstaber himself, the book is that interesting/insightful.