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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 75.41

+1.4%

10:05 AM EST

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To: RetiredNow who wrote (57774)	2/21/2002 10:08:02 AM
From: Stock Farmer	Read Replies (2) of 77400

Dangerous distinction. A top official had better not have his personal hand enriched at the expense of the company. Let's take, for example, those folks who made the decision to purchase Monterey and thereby evaporate a half a billion dollars in shareholder capital. If they so much as benefited by a dime in that decision then they were in conflict of interest. That dime came from the shareholders to whom they have a fiduciary duty. Period. Now, as to your distinction. Defenses that did not work at Nuremburg: I'm not guilty 'cause we were all doing it together. I was told to do it. It was my job. So we're supposed to tolerate "Even though it is explicitly not my job, we all did it together anyway"? Bull$hit. We should not give tacit permission for "everyone" to continue. If we don't like it then we can't legitimize the Nuremburg defense, or any weaker varient. We have a responsibility to blow the whistle when we see an infraction and demand propriety. If John Chambers is involved then it's a John Chambers problem and John Chambers should face the music. No ifs, ands or buts. The directors and officers who let such activity slide by are avoiding their fiduciary duty to shareholders. IMHO. Whether or not it's also a somebody else problem. Somebody else gets to face the music too. One somebody at a time. He (and any other captain of industry) gets paid the enriching big bucks to set aside all other interests. And to keep their freakin' hands out of the cookie jar. And we have a right to demand our icons behave like icons. Jointly and severally. And hold them jointly and severally liable. Period.

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