The Bailout Czar
If the Troubled Asset Relief Program goes down as the government’s most pivotal piece of business legislation since Sarbanes-Oxley, then Herb Allison, its chief administrator, also deserves a place in the history books. Allison, who was selected by President Barack Obama to oversee the bailout, comes off of a brief stint as CEO of Fannie Mae. His past positions include six years at TIAA-CREF, as well as 28 years with Merrill Lynch. Though Allison’s resume is impressive, his latest appointment will likely be the biggest test of his career, with TARP drawing criticism for its lack of transparency regarding the destination and use of its funds. It will be up to Allison to turn that image around.
Hate Twitter? Blame this Man
Evan Williams, the CEO and co-incubator of runaway microblog service Twitter has had a brief, but formidable, career, having laid the groundwork for a new breed of web communication tools. Williams co-founded Internet product company Obvious— parent of podcast service Odeo as well as Twitter— just two years ago, and has already become a central figure in the new Internet scene, what observers have dubbed “Web 2.0.” Though Twitter has drawn significant financial backing, with $35 million raised in its recent round of funding, critics point to the fledgling company’s as-yet lack of revenue- raising capabilities. Williams is confident he can mine gold from the “it” site of the minute. How confident? He turned down a $500 million acquisition offer from social networking site Facebook last year.