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Saturday, August 25, 2012

ajc: Bobby Cox using baseball savvy in banking world

Well, when he first started out in baseball…that office was in equally ugly shape.

At 71, Bobby Cox just signed up for a challenge that may be more daunting than managing the Braves from worst to first. Cox is the new chairman of Adairsville-based NorthSide Bank, which has performance numbers way below what he would have tolerated from any of his former players.
Bobby Cox

The small community bank, with $129 million in assets and three branches, has been a victim of the real estate crash, struggling with serious losses and a lack of capital to cover them. It’s been under a regulatory order for more than three years to improve its condition, highlighted by losses of $3.2 million in 2008, $4.7 million in 2009, $1.2 million in 2010 and $501,000 last year.

Cox never thought he’d be dealing with such numbers when he became one of the original investors and board members in 2005. In his new role as chairman, he thinks he can help attract the capital to give the bank more breathing room as it tries to turn around. Cox said the bank is close to raising $2.3 million in capital and expects to post a profit of between $600,000 and $700,000 this year. He talks about what he learned in baseball that can translate to the business world.

Q: It’s not easy to be successful year after year. The Braves won an unprecedented 14 straight division titles while you were the manager. What’s the lesson for business leaders?

A: You’re right. It is difficult. When you set the bar really, really high, it’s hard to maintain it.

You can’t let complacency set in. I used to tell our guys in spring training that we can’t live off of last year. We have to keep on going as hard as we can. The people at the top have to keep tweaking the business or the ball club — adding because other businesses or clubs are adding.

I know people in the business world who run their businesses sort of like a baseball team. You have your lead-off guy and the guy who can knock the ball out of the park — different roles. I kept it as simple as I could so people could understand it.

Also, we built a solid foundation [of talent] for the long-term. And we got lucky. All plans are not successful.

 

Repoz Posted: August 25, 2012 at 03:44 PM | 14 comment(s) Login to Bookmark
  Tags: braves

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   1. Jarrod HypnerotomachiaPoliphili(Teddy F. Ballgame) Posted: August 25, 2012 at 03:57 PM (#4218090)
All plans are not successful.


Really? All of them? Then why do people keep making so many of them?
   2. Jose Molina wants a nickname like "A-Rod" Posted: August 25, 2012 at 05:19 PM (#4218124)
edit: symbols didn't come through
   3. DA Baracus Posted: August 25, 2012 at 05:34 PM (#4218135)
Bobby Cox using baseball savvy in banking world


That's what they said about Lenny Dykstra.
   4. The Clarence Thomas of BBTF (scott) Posted: August 25, 2012 at 05:50 PM (#4218145)
####. In 10 years we're going to find Bobby Cox homeless and broke.
   5. God Posted: August 25, 2012 at 06:14 PM (#4218167)
Yeah, I can't believe anyone is using a headline like that In the post-Lenny Dykstra world. Look, people, it may be a cute storyline, but there are no baseball skills -- none -- that apply to banking or the financial world. I wouldn't hire a ballplayer to manage my money any more than I'd hire a movie actor to fix my car.
   6. greenback calls it soccer Posted: August 25, 2012 at 06:55 PM (#4218201)
During the Braves-Giants game last night Miller and (I think) Krukow discussed the September 1999 series between the Braves and Giants where Chipper hit his 40th homer. They mentioned something Chipper said about that series, that Cox surprised everybody by yelling "epithets" after some Barry Bonds event. There's an obvious reading of "epithet" here, but it was odd that Chipper would relay the event to the Giants crew, and then the Giants crew would mention it on-air.
   7. Sweatpants Posted: August 25, 2012 at 07:24 PM (#4218222)
That story was in the AJC's Braves blog. The Barry Bonds event was from a 2003 series, not from the 1999 one. The Braves gave up two walk-off homers to Bonds that series, and it's pretty clear that what was meant was that Cox cursed up a storm in the clubhouse afterward.

Gary Sheffield was on that team. If Cox had been throwing around racial slurs, we'd probably know about it.
   8. Dale H. Posted: August 25, 2012 at 07:32 PM (#4218229)
Really? All of them? Then why do people keep making so many of them?
God needs the yukks.
   9. Colin Posted: August 25, 2012 at 07:47 PM (#4218235)
Adairsville is a small town, and Cox is surely its most (only) notable resident. It says Cox invested in 2005, just about the top of the mortgage and finance bubble; so, he's likely lost a lot of money. My guess is he's been brought in not for specific skills but as a figurehead to try to schmooze some cash out of local carpet industry millionaires in a last-ditch effort to save the bank before it goes under.
   10. MM1f Posted: August 25, 2012 at 11:34 PM (#4218350)
Adairsville is a small town, and Cox is surely its most (only) notable resident. It says Cox invested in 2005, just about the top of the mortgage and finance bubble; so, he's likely lost a lot of money. My guess is he's been brought in not for specific skills but as a figurehead to try to schmooze some cash out of local carpet industry millionaires in a last-ditch effort to save the bank before it goes under.


So Cox is supposed to get Wolfman from Carpets of Dalton to sink some cash into the bank?
   11. silhouetted by the sea Posted: August 25, 2012 at 11:36 PM (#4218352)
I may have missed another blog post, but the one I saw with Chipper telling the story did not say that Cox was yelling about Bonds. My guess is he was fairly mad at his pitchers.
   12. JE (Jason) Posted: August 26, 2012 at 12:35 AM (#4218381)
Look, people, it may be a cute storyline, but there are no baseball skills -- none -- that apply to banking or the financial world.

Nonsense. According to Brian De Palma, Al Capone handled a bat as well as anyone in the big leagues.
   13. 6 - 4 - 3 Posted: August 26, 2012 at 01:37 AM (#4218400)
So what's the banking equivalent of a LOOGY? An underwriter who only does townhouses?
   14. Bring Me the Head of Alfredo Griffin (Vlad) Posted: August 26, 2012 at 08:58 AM (#4218438)
Look, people, it may be a cute storyline, but there are no baseball skills -- none -- that apply to banking or the financial world.


If nothing else, I'd think that lying would serve you well in both areas.

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