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March 28, 2005
Small-town CEO disease
There’s been some analysis lately in Mainstream Media about the downfall of small-town, self-made CEOs such as Bernie Ebbers, Ken Lay and Richard Scrushy.
Self-made men tend to worship their creator. And the notion in MSM is that the trait is exacerbated in a small town, where the corrupt CEOs can lavish donations upon the willing denizens, who then name the local concert hall, park or expressway after their benefactors, whose egos are pumped up even more.
That theory may hold water. But I doubt it. First of all, Houston, where Ken Lay lied to employees and shareholders, is one of the five most populous cities in America.
The landscape is littered with examples of big-city CEOs who are just plain crooks: Dennis Kozlowski at Tyco, Maurice Greenberg at AIG and John Rigas at Adelphia.
The common thread, whether the CEO is from Manhattan or Mississippi is the notion that the law doesn’t apply to them. They stole. However else you describe it, they stole from their shareholders, many of whom happened to be their employees.
No need to overanalyze it. They’re thieves.
Posted Mar 28 2005 @ 06:36 AM
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