Constant's pations

If it's more than 30 minutes old, it's not news. It's a blog.

Sunday, October 24, 2004

CIA IG Report: Bad news for a CEO who wants his employment contract signed before the audit committee sees the truth

The CIA Inspector General's report sits in the White House. Awaiting the election.

Bush by delaying release of the CIA IG report shows how CEO's act when they are in trouble. By hiding the audit report from the stockholders and audit committee, this CEO hopes to get his employment contract signed before the truth is known.

What's in the report is not as important as what is done to a CEO who refuses to let the audit committee report to the board and stockholders what is really going on.

Bush-as-CEO has one goal: To secure a compensation package, regardless the finding of the audit committee. Yet, Bush argues "I will only release what is in the report after you approve what is in the compensation package."

Bush bargains from a weak position, incorrectly believing the board of directors would rather obtain the report than discipline the unresponsive CEO.

Ideally, the board has the right to know what is in the audit report before making their decision. However, the board of directors doesn't need to know what is in the report for them to make an adverse decision.

Uncooperative CEOs, when they have much to hide, need not be given any consideration or favors during negotiations. With this CEO, the "terms of the contract" are not contingent upon Bush's cooperation; rather, those terms are already outlined in the Constitution.

Congress has the power under the Constitution to subpoena the President. There is no "Executive Priviledge" in the Constitution or immunity from oversight. This CEO only wants a signed contract regardless the facts. This CEO deserves nothing--once signed, all leverage over the CEO is lost.

Bush knows this. He plans to provide the report "if only" the voters will let him finish his job. This is why he promises to reveal it "maybe later." We've seen what "show me later" means with Iraq's WMD: Never.

Bush is part of the problem. Not the solution. There is a large mess to clean up. He needs to be shown the door. If the report is not forthcoming, treat Bush as any CEO in the same position would be treated: Immediately fired.

The CIA IG report may not see the light of day before the election. The truth needs to be known: There is no evidence to justify renewing his compensation package.

The CEO, in the end, loses when there is a question of integrity. The stockholders lose when they fail to act.