Penn Alum Shouted Out By Obama

In Obama's "not-the-State-of-the-Union" State of the Union, he name-dropped Wharton alum Leonard Abess (father of Matt Abess, C '08) as an example of a selfless and responsible member of the finance industry. Abess distributed bonuses to past and current employees of Miami's City National Bank based on years of service to the company.  Some received up to $100,000. You may have caught a glimpse of Abess last night, seated with First Lady Michelle Obama in her private box. Quothbama:

"I think about Leonard Abess, the bank president from Miami who reportedly cashed out of his company, took a $60 million bonus, and gave it out to all 399 people who worked for him, plus another 72 who used to work for him. He didn't tell anyone, but when the local newspaper found out, he simply said, ''I knew some of these people since I was 7 years old. I didn't feel right getting the money myself.'"

Right on!  Whartonites, there still is hope for your souls.