Monday, August 5, 2002

A 'Feckless' Administration This Time article is a must-read. It's a long article, but if you want to understand what led up to the events of 9/11, you have to read it. (Clinton's National Security Adviser) Berger attended only one of the briefings (Early January 2001) --the session that dealt with the threat posed to the U.S. by international terrorism, and especially by al-Qaeda. "I'm coming to this briefing," he says he told Rice, "to underscore how important I think this subject is." Later, alone in his office with Rice, Berger says he told her, "I believe that the Bush Administration will spend more time on terrorism generally, and on al-Qaeda specifically, than any other subject." The bottom-line is that this administration; due to it's hatred of Clinton, ignored advice and plans that laid out an attack on al-Qaeda. A plan that was disclosed to the incoming adminstration in January 2001, nine months before the 9/11 attack. The Bush team dropped the ball, and lost the chance to do anything. All because they were too worried about missle-shields; and making Clinton look bad, to implement a plan developed in Clinton's administration....mj Feckless adj Not fit to assume responsibility Generally incompetent and ineffectual; "feckless attempts to repair the plumbing"; "inept handling of the account" So which adminsitration is the Feckless one? 2:01:31 PM

Senator proposes stock option reforms A bill introduced in the Senate on Thursday proposes reforms in stock option programs. Such programs, popular in the technology industry for employee compensation, have fallen under attack in the wake of recent corporate accounting scandals. The Rank and File Stock Options Act, introduced by Sen. Joseph Lieberman, D-Conn., encourages companies to distribute options more equitably among executives and rank-and-file workers. It also urges regulations that would forbid executives from selling their shares while still employed by their company and would require shareholder approval of stock option plans. [ZDNet] Reforms like this are long overdue. After watching the founders of my previous employer selling their own shares and pocketing money, while the emplyees went unpaid...enough is enough. This might not have stopped that, but it does admit that companies have lost sight of reality with all the focus on options. My friend Bill and I were talking about options recently and he had a wonderful observation. His idea was that we have seen a shift in corporate focus during the past 20 years. I have a little different spin that owes its origin to Bill's comments. I would say that in the past 20 years we have moved from 'The Customer Is Always Right', to 'The Shareholders Are Always Right', and recently to 'Whatever Pads My Options Is Right!'...mj 10:08:24 AM

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