David Gergen is a very accomplished individual serving four of our presidents very successfully. He is now a professor and political analyst for CNN. Very accomplished indeed, but a review of his resume does not show a time when he has ever lost sleep over making payroll. He has never had to consider the impact of government regulation on his business, never brought a product to market or worried about a discrimination suit from a fired employee.
In his May 11th Viewpoint in Fortune magazine he offers advice for American Business leaders. He references other scholars, professors and authors in his article. He concludes with the bold statement that “Our worst business leaders did indeed play a role in creating this mess.”
I’m not sure why he gets a voice on this issue, but absent from his brief history of the past several years is Barney Frank’s roll in forcing banks and lending companies to provide loans to lower income people with suspect credit history. Also skipped was the impact of the unchecked Trial Lawyers Association ability to bring frivolous legal action against Corporate America or the growing regulation on small business owners or the annually growing and confusing tax code.
Mr Gergen has made a significant contribution with his political career, assuming that automatically extends to the business world is a classic mistake business owners have suffered for years.
Does this bother you as much as it does me?