I commented in yesterday’s blog on a past U. S. Supreme Court ruling on “honest-services” obligations and its effect on business executives with responsibility for operating a public company.
A CEO has to be an optimist to prevent the corporate roof from falling in; employees and customers fleeing, and losing jobs. An executive must retain legal leeway and be given slack. A top executive who is not a cheerleader is doing a poor job.
Unfortunately, too many jurors and judges are not aware of this business fact.
The public cannot scream “fraud” at the drop of a hat every time disaster strikes a company. That is a ploy used by plaintiff lawyers doing what they do best.
And that is what probably happened at the trial of the former Enron Chief Executive, Jeffrey Skilling. And other execs convicted of similar charges. See the Earl J Weinreb NewsHole® comments.)
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