Richard Wade Vague, a well-known former Chief Executive Officer and Co-Founder of First USA Bank, has garnered a great deal of media attention lately because of his anti-war stance, a somewhat uncommon viewpoint among top level executives within the credit card industry.
Vague built his reputation in the industry by building and then selling what was then the single largest credit card unit in the United States. He’s adamant about the effect the war has had on the overall economy. “The US economy will not start to get better until we stop spending on the war…I feel an urgency about the discussion for reasons beyond the human tragedy of soldiers and civilians dying in Iraq.”
Whether or not Vague should have been so actively involved in protesting the war is a subject of debate among executives, but he freely admits that some constituents look down upon such activism. Vague defends his position though, claiming that “certain issues are directly relevant to business and are therefore the proper domain of business activism.”
Related Posts:
- Visa Takes on New Executive Chairman - Visa has announced that it will be bringing a new executive chairman on board: Joseph Saunders. Saunders is a veteran within the...
- American Express Executive Speaks on Behalf of Consumers - It seems that Congress and consumers advocacy groups are not the only ones taking a closer look at credit card industry practices....
- Card Issuers Find Loopholes Before New Law Takes Effect - For all those individuals who have used their credit wisely and kept up with making their payments on time, you would think...
- Koss Executive Charged with Massive Credit Fraud - Sujata “Sue” Sachdeva, an executive with Koss Corporation since 1992, has been charged with massive credit fraud for an estimated $20 million...