Kenneth J. Bacon
Title: Executive Vice President, Multifamily Mortgage Business
Education: BA, Stanford University; MS, London School of Economics; MBA, Harvard Business School
What I’m Reading: Steve Jobs, by Walter Isaacson
Interests: Golfing, hunting, wine, education
What is the worst mistake a leader can make?
The worst mistake a leader can make is remaining in a single position of power for too long and having a certain level of comfort. It is paramount that all of us, including those who lead, understand progression is necessary for continued growth, for ourselves and for our future leaders.
What was the best advice you ever received?
My mother once told me that I was too old and too black to expect life to be fair. While it was difficult to comprehend initially, as I matured I understood that regardless of our best efforts, there are some things that will not go as we expect, and that some of these things will not seem to be just or rational.
What advice would you give the next generation of African-American business?
It is important to learn from large enterprises and obtain a level of expertise. From there, our next generation has to be more
Company: Fannie Mae
Headquarters: Washington, D.C.
Business: Financial Services
Ken Bacon, Congratulations ! Please raise the cut off from 4 units, being considered commercial, i.e. extra interest and fees changes. Here in the 20th century, this Mom and Pop business, thinks it should be raised to at least 8 or 10 to be considered Commercial.