Friday, July 11, 2003

Politics Why the CEO in Chief Needs an Audit

The Bush White House is run on a business model. The president is the CEO. He delegates to others, including the vice president, who was once a CEO himself. It therefore should come as no surprise that George W. Bush, a Harvard MBA after all, is doing what other CEOs do when they get into trouble. In his case, he's "restated" his reasons for going to war.
Corporations do this all the time. If a profit of, say, $2.8 billion turns out to be a loss of a similar amount on account of unanticipated developments (corruption, greed, the demands of mistresses), the figure merely gets "restated." Usually no one is held responsible for this, because a billion here or a billion there can, as we know, fall through the cracks. In fact, the CEO -- having been given a bonus for such a banner year -- is then given another one for managing his company through difficult times.

· Times of CEO [The Washington Post Company]