In some financial circles, Rupert Murdoch is looking like he lacks proper respect for the bottom line. And that's no image to have if your job is to be persuasive to constituencies ranging from analysts and shareholders to a board of directors and internal executive leadership.
BUSINESS INSIDER gleefully connects the dots on his purchase of Dow Jones five years ago for about $5 billion. Today, as the News Corp board approves the spinoff of publishing from entertainment, it's still worth about $5 billion. That's a high price to pay for prestige. I look at this come-down for Murdoch for the financial information company Motley Fool. Here you can review my thinking.
The same ego which drives professionals like Murdoch and many brilliant law students and lawyers to achieve can also derail them when they chase prestige. Those newbie JDs who don't get jobs in elite law firms and the associates who are let go from brandnames like Skadden often frame that as career collapse. Some don't recover. Instead of learning from what to them was a professional tragedy, they chase after another prestigious position.