In Defense of CEO's

[Flexmoney]

People have been asking me what I want for Christmas.  I thought an Ayn Rand book might be nice.  (I didn't know about her writtings until mentioned here in the past.)

I came across the exceprt below.  Seems to mirror some gun control issues as well.  

"Corporate America is under attack as a result of Enron, WorldCom, and various accounting

and corporate malfeasance. The hysteria surrounding these events threatens the business

community and CEOs specifically; already, this hysteria has resulted in new laws and

regulations that increasingly shackle corporate America. And more such measures may be

passed in the future.

With this special issue of Impact, ARI is launching a campaign to speak out in defense of

America’s CEOs—the vast majority of whom are not only honest and law-abiding, but

who are among America’s most productive individuals.

First, let’s place the current “crisis” in context. The only laws needed to deal with actual

corporate wrongdoing already exist—namely, laws against breach of contract and fraud.

Where such laws have been broken, violators should unquestionably be brought to justice.

But the anti-capitalists leading the assault against corporate America are not merely

demanding that existing laws be applied against individuals who may have committed

fraud. Instead, they are clamoring for government agencies to be granted even more

power to dictate to all businessmen how they must run their business. Companies will

increasingly be forced to focus on compliance with the arcane demands of

bureaucrats—rather than on innovation, production, and wealth-building.

Attacks on CEOs—demanding ever more regulation and presuming a businessman’s guilt

rather than innocence—are, first and foremost, a gross injustice, and disastrous for individual

liberties. Secondarily, they are disastrous for the nation’s economy: For example, in..."

http://www.aynrand.org/

[SiG Lady]

Ayn Rand is must-read material for responsible, open-minded sensient American beings. Have read several of these works over the years. Even re-read one a few months ago. Might well go back and re-read the others as well. Hope Santa brings you several!

[EricW]

I've read most of Rand's works and somehow the "Ayn Rand Institue" seems more like the work of "Seconhanders" than of visionaries.  Objectivism is to be lived.  It does not require further explanation by Rand's self-appointed disciples.  

Ayn did a fine job of explaining it the first time.

Furthermore, the guys that wrote those articles fundamentally do not comprehend what is going on in Corporate America, the extent of the disease, and how the modern CEO is the utter antithesis of a Dagney Taggart or a Howard Roark.  Ayn Rand spent volumes ridiculing the behavior that landed us in our current economic morass.  Such a pity.

(Sorry Flex.  I love Ayn Rand too, but I'm not sure those guys get it.)

[Flexmoney]

Eric...I was awaiting your post.

[EricW]

Flex, sorry for the Ralph Nader mode.

It all just strikes me as funny...kind of like the T.E. Lawrence society building an altar to Lawrence (of Arabia).  Hero worship just seems to preclude true understanding.  But then, maybe I never understood to begin with...

In the end, I guess that anything that furthers Objectivism is good.  I do still dream of a world where A is consistently A.

(Edited by EricW at 11:38 am on Dec. 16, 2002)

[Flexmoney]

I'm not in a position to make an informed opinion on all that.

I just found that particular article interesting.  It mirrors the arguement that is made about guncontrol...the laws are there, just not enforced.

One of my biggest dislikes is anything that stiffles innovation.  (Price controls on perscription drugs comes to mind.)

[EricW]

You're right.  Nothing but bad is going to come out of the move to the Nanny State....

[Flexmoney]

Nanny State...Ralph Nader...

   

LMAO

[SiG Lady]

Just read Ayn Rand with the same Open Mind that you shoot with, live with, observe with... and you'll gain from the literary experience.

[bonedaddy]

I've read several Rand novels. Loved them too.   The heros in Atlas Shrugged bore no resemblance what-so- ever to the real "looters" of the current age, many of Americas CEO's.   It's simple.  Rand's heros built companies because it was their purpose in life.  They did what they did becaused they loved it.  And everyone else profited by their ingenuity.   The modern day list of Atlases is pretty short.  Folks like Sam Walton, Bill Gates, Mike Dillon, and a few others.  These people took all the risks!  They mortgaged their own homes to make it happen.    By contrast, many CEO's of large corportations are outright stealing other peoples money by getting insane salaries and sweetheart stock options.  Then they totally gut the company and cook the book$ to get a temporary pop in the stock price and SHAZZAM!  Instant multi-milionare.   Friends, this little story is far, far, from over.   I wish I could tell you it's going to end nice, but it ain't.  

PS:  I guess I should tell you why it isn't going to end nice.  Economies only function on trust.  The medium of exhange doesn't matter, the base requirement is trust.

(Edited by bonedaddy at 10:31 pm on Dec. 16, 2002)

[Flexmoney]

On a brighter note...Coke announced this week that they would no longer provide short-term guidance.  Used to be that their senior managements compensation was tied to long-term performace.

Lets hope it catches on.

[bonedaddy]

Sorry for the rant everybody.  (I have a pet peeve....it's complicated, OK?)

But, Ayn Rand novels are excellent!  I've been trying to get bonemomma to read "We the Living", I know she'd dig it.

[EricW]

BD,

Don't be sorry...it's a frustrating subject, and it's not being reported on correctly or thoroughly.  I'm sorry I vented in the first place.  I sure hope Flex knows how much I like him & what he does here.

E

[bonedaddy]

Eric, thanks for the support.   And I think Flex knows;)  

I may need to go to the Hate forum and do a good soul cleansing rant on the topic of corporate malfeasance later.  

[Flexmoney]

lol...moreover...I know how much you two in particular hate "Corporate America".

If you two hadn't posted I would have been disappointed.

(I do, however, think that the label "Corporate America" paints with too broad of a brush.)

BTW, you guys all do more for the forum than me or any other individual.  Put us all together...we don't do too bad.  

[ap3]

As a CEO, and a shooter I am surprised at some of the comments.  The problem with some corporate CEO's today is not much different than in 1929. When we tell corporate America that we all want to "get rich quick" in the stock market can you really be surprised at the type of CEO's that rise to the top of publically held companies.  It is true that leadership is a responsibility, and most CEO's don't take this responsibility lightly. Just as shooters most of us don't  take gun ownership lightly. My suggested reading list for insight: 7 Habits of Highly Successful People by Covey.