CEO Accountability (Part 1)
Ten days ago, I wrote a rebuttal to the desirability of living in an age of government intervention rather than economics creating corporate health. The General Motors bailout discussions led me to research and develop a point-of-view about the “Detroit Three”; whether G.M. needed a government rescue and as a result, whether the American economy would be stronger. To read the analysis, visit: http://www.forbes.com/opinions/2008/11/19/gm-economy-autos-oped-cx_bm_1119mcgarvie.html. It’s been interesting to read the comments from the Forbes.com blog that agree and disagree with the analysis. EMOTIONS are driving those who disagree, not analysis of the data.
Decision-makers and Congress must make a distinction between a company’s hopeful desires and cold brutal facts in order to establish the path for financial stability. Unfortunately, the “Detroit Three” CEOs testified to Congress that they deserve a free cash infusion above and beyond the $25 billion they received last month. The CEOs of GM, Ford and Chrysler run companies that sold less than 50% of autos sold in October in the U.S., yet they act like they are running the show. Why aren’t the CEOs of Toyota, BMW and Honda asking for a handout?
My research for and writing of Shaking the Globe has led to a surprising number of inquiries, including a request from Carl Icahn to be a contracted and regular contributor to his blog (www.Icahnreport.com) to discuss CEO accountability and corporate governance. My question to the thousands of readers of the Mastering the FISO Factor newsletter is:
Should I accept Carl Icahn’s invitation to blog?
Let me know your thoughts by replying to this email. In next month’s newsletter, we will let you know the results. In fact, we will post it on Blythe’s blog on www.BlytheMcGarvie.com. We welcome and encourage you to link to this site where we discuss how we exercise our leadership responsibilities in the interconnected world. Do you want to be a Globe-Shaker or have the world shake you?
© 2008 Blythe McGarvie
1-757-345-3595
bmcgarvie@LIFgroup.com
