IMB Messages

I wrote an email note to all employees on my last day at Indymac, July 11, 2008. Below you will find this email and the responses I received to it from scores of Indymac employees and others from across the Country.

I did not have the opportunity to read most of these emails until recently when I received them as part of 1.2 terabytes of discovery data from the SEC. I debated whether or not to post them to this blog, but after receiving permission, I decided to do so for two reasons: 1) They help reveal the truth about what kind of CEO, leader, and person I was, and 2) I wanted to acknowledge and thank these employees for these notes, but have no other way to contact most of them.

To ensure each individual’s privacy, all names have been eliminated and “Indymac Associate” utilized and other personal information has been redacted.

Importantly, out of the hundreds of emails and phone calls that I did receive, I only received two negative ones. One was from a small, anonymous shareholder that was so crude that it could not be posted. The other was from an 18-month Indymac salesperson, more than three years later on August 21, 2011, which I have posted along with my response to him.

I think they are fairly comprehensive and representative of how Indymac’s employees, managers, directors, and others felt about my leadership and integrity.

July 12, 2008 – FDIC Forwards M. Perry’s Email to All IndyMac Employees (Perry Document)

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  1. Mike,
    I started at Indymac when I was just 20 years old, I started my career at Countrywide when I was 18. It was my goal to make it to Indymac where I heard nothing but great things. So when finally Indymac and Countrywide split I was able to come over (with out the transfer ). I have never worked for a company since then that I could say I truly Love my Employer like I did while I was at Indymac bank. I remember all the meetings out in the court yard having a laugh working hard and enjoying all of our company around us.
    I am still friends w/many of your former employees and we all agree on one thing…No Other Company will EVER compare to this one. From 2001-2007 I had the best time of my life. I was able to learn, grow and mold with the company. Family was # 1 to you along with all the hard work we did. I won’t forget hearing “Mike Perry took a paycut” those words I’ll never forget. The somber days came and we all felt it, but it was okay because we all loved the company even through everything. Your leadership will never be forgot, your personable skills never forgetting where you came from.
    It was a family at Indymac Bank. No other company since then has made me feel as warm as Indymac did.
    I hope to work for you again sometime in the future.
    A now bofa employee who will never forget the good times and best leadership I have ever experienced.

  2. Mike:
    As an employee of Indymac for just shy of 10 years, I have to say that it was the best time that I have had in life so far. I learned more than I could imagine, accomplished more than I thought possible, and it shaped me into the person that I am today. I have very fond memories of all of the leadership at Indymac and miss the culture, the camaraderie, and the passion which we all shared to satisfy our why.

  3. 11 Years @ IndyMac

    When the end came, I was sad beyond measure. For myself. For my colleagues and friends. For the leaders who taught me so much, and for the brand that was IndyMac. And when I thought of you, Mike, I was reminded of a rather famous poem by Walt Whitman. You were our captain, and even if we were to have survived in some fashion, we knew it would be without you.

    O Captain! my Captain! our fearful trip is done;
    The ship has weathered every rack, the prize we sought is won;
    The port is near, the bells I hear, the people all exulting,
    While follow eyes the steady keel, the vessel grim and daring:

    But O heart! heart! heart!
    O the bleeding drops of red,
    Where on the deck my Captain lies,
    Fallen cold and dead.

    O Captain! my Captain! rise up and hear the bells;
    Rise up—for you the flag is flung—for you the bugle trills;
    For you bouquets and ribboned wreaths—for you the shores a-crowding;
    For you they call, the swaying mass, their eager faces turning;
    Here Captain! dear father!
    This arm beneath your head;
    It is some dream that on the deck,
    You’ve fallen cold and dead.

    My Captain does not answer, his lips are pale and still;
    My father does not feel my arm, he has no pulse nor will;
    The ship is anchored safe and sound, its voyage closed and done;
    From fearful trip, the victor ship, comes in with object won;
    Exult, O shores, and ring, O bells!
    But I, with mournful tread,
    Walk the deck my Captain lies,
    Fallen cold and dead.

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