Tuesday, October 14, 2008

Defining Worth II

Last week I posted some thoughts which for lack of something more clever I labeled Defining Worth. The point I was trying to make was that for every executive whose DNA is made up totally of greed, there remains the vast majority of others whose approach to life is actually based on value systems that most would admire.

That said, along come $400,000 boondoggles for the "heroes" of a company which clearly should have spent that amount and lots more on management education programs with an emphasis on risk management was just one other piece of news that kept me thinking about this subject.

At the same time I was still digesting the fact that my 401(k) was finishing up the week gasping for air when as you might expect through the wonders of modern telecommunications comes another post from What Would Dad Say called “The Greatest Fraud in American History”: Uncovered Last Week in Minneapolis.

The story by itself comes under the heading of "you can't make this stuff up" and is told as only can tell it. It is one of those stories about a crook that defies belief. Were it not for the mother of all market meltdowns plus an election, as the piece reports, we all would likely have heard much more about it.

Be all that as it may, when I read it, "Dad's" closing comment struck me yet once again with the thought of "Boy I wish I had said that because it really says a lot of what I was trying to say when I posted Defining Worth in the first place.

"...Nearly every top executive I have ever met sets unbelievably high standards for themselves, maybe just because they know down deep that if it is fuzzy in the pulpit it is foggy in the pews. Plus they just know right from wrong. I believe customers as well as employees can tell if a company is being built on the right ’stuff.’"
Wishful thinking?

1 comment:

Anonymous said...

Good post and I was surprised you referenced my post at the end of it, thanks for that.
The impact here locally of Petters is amazing in all sorts of ways...people are not giving as much to United Way because some of the non profits 'invested' in his ponzi scheme...one of the bad things that happened as a result. Plus countless others. I heard one guy, himself a noted entrepreneur who was always a bit on the edge anyway, is on suicide watch. I hope they throw the key away on this guy. And I am usually the first to forgive.