diet coke for breakfast

Thursday, July 10, 2003

Posted by Tanstaafl
Why the CEO in Chief Needs an Audit

Richard Cohen does a number on President Bush in this column.
A couple of objections jumped out at me right away.

1) When a corporation restates earnings, usually someone is held accountable. The shareholders will punish the company by selling the stock. Furthermore, very often, the people who screwed up will be fired. I wonder if Mr. Cohen has ever done anything besides journalism.

2) Osama Bin Laden wasn't captured because of a botched operation in Tora Bora? Does Mr. Cohen know he was there? If so, did he know then? Why didn't he tell anyone? If not, then wow, his hindsight is 20/20. I would also question his military expertise. I think the routing of the Taliban shows better performance than "an appalling level of incompetence."

3) "...this failure will be restated as not being all that important. You learn this sort of thing in business school." Has Mr. Cohen also been to business school? I would imagine that good business schools teach management styles, marketing, finance, and other useful skills. Not how to restate plans. I would say that restating the importance of something, or spin, is learned in Washington DC, not in business school.


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