Posted by
Nathan Krekula on Friday, October 03, 2008 10:00:00 AM
In looking back at the aftermath of 911 there is one strong resounding fact: America is strong. A great nation and a great people were cut and cut deep. The trembling foundations of the trade towers resonated throughout the American and world economic structure. How is it that with this charge from an enemy bent on the destruction of American economic power that in 2003 there was 2.4% growth? (Free Republic,03).
I would have to say that the dot.com bubble, Enron hysteria, WorldCom lies, AOL lies, Tyco stealing, and the overall lack of ethical practices were far more destructive to the over economic health of the United States. (Free Republic,03). People know that they can not trust a murdering highjacker but they should have peace of mind in their retirement and their nest egg investments. The problem lies somewhere in the minds of some of the world’s most powerful executives; they lost touch with the little guy. When people lose their trust in the market due to untrustworthy CEO’s, it will not come back quickly.
I do not agree with the comment of an anemic economy. It is what we make of it and America has overcome greater than this. Moreover, while the attacks of 911 did cause the economy to weaken and people did lose trust, it was mostly due to the lack of truthfulness of top level CEO’s. I would also have to say that the CEO is looking at two buckets, one with truth and the other with puffed-up lies. There are those who chose to lie to the public about their earnings and those who told the truth. Tell the truth and loose investors, or lie really well and keep them--perhaps even add new investors. The bullish truth about the average person’s perception of CEOs today is that they are as trustworthy as politicians.
I find it hard for the economic leader to feed the human spirit when they have none of their own. The goal of honesty and loyalty to the consumer should be the basis of their strategy. Peace of mind starts with knowing the truth so that one can overcome the negative and capitalize on the positive. I agree that deeper communication is the key, but it must be the truth in order to hold the trust of the investor and the spirit of the company. “Effective leaders in tough times can actually do a great deal to impact the economy and keep our country on its feet.” (Villeneuve,01). This holds true and it is key to the economic power of this great nation. Because of this leaders should be held accountable for any actions that may cause harm to the economy. These are hard times, but I believe that it is primarily due to the greed and lack of ethical leadership of some of today’s top leadership. Most of all employees are investors in the company and they need to both trust the leadership and the economy. I fond the article of Villeneuve to be clear on one point leadership has the power to make changes good or bad.
Sources:
Free Republic. (2003). Blue Chip economists trim U.S. growth forecast. Retrieved 03/15/05 from, www.feerepublic.com/focus/f-news/908995/posts