Nuts: With the conviction of WorldCom's CEO Bernard Ebbers, analysts are trumpeting the defeat of the "aw shucks" defense -- this is where the CEO claims ignorance of everything that went on during his watch.
Other CEOs of Fortune 500 disasters, including Ken Lay at Enron, are preparing to make the same defense. Hopefully, they'll meet the same failure.
You never hear a CEO plead ignorance when everything is going well. And if a CEO is willing to take credit for all the good stuff, then he has to take the fall when things go horribly, horribly wrong.
Thursday, March 17, 2005
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