Guess what! After all these years, Jack Welch now believes that the quarter on quarter results frennzy that he promoted over most part of his carefully branded carrer is not the right method for organizations to progress. He has now realized that “Growth” happens over a longer period of time and the q on q statistical manipulation of financial numbers has got nothing to do with it.
Voila! That realization is yet to catch up on the corporate captains or on walll street. Trading picked up on the announcements of Citigroup and others registering a profitable quarter after a long time. And why wouldn’t they, when they have suspended most of their SG & A spending; some of them as atrocius as buying a corporate jet to cart a select few who do nothing but fart around the world.
AIG’s disbursal of bonuses is truly an internal matter except that it is done snatching it from poor American Tax Payers some of whom have lost their homes, lives and dignity. And we have the media warning that government executive and judiciary must not interfere with corporate governance. However, no one is still talking about firing these honchos who the leadership fears of losing; who brought AIG to the unenviable position it is in; bringing the financial world to its knees. Is our modern society better off with a justice system that punishes the triers and rewards / prototects the uninvolved. There could not be another explanation to accepting the Madoff plea bargain! I am sure there will be protests that it was not a plea bargain! And yeah, I am not your neighbourhood spiderman!!!