Goldman Sachs -Not so fast!

Will Rogers was fond of saying, “Buy low, sell high … and if it doesn’t go up, don’t buy it!”

That’s a whimsical sentiment, but I wonder what’s in the air when I read about the alleged fraud by Goldman Sachs described in the civil complaint filed by the SEC, referenced in the recent article here. I wouldn’t jump to conclusions too quickly. In too many ways, this episode is reminiscent of earlier 1980s  battles with Michael Milken. Notwithstanding Milken’s misdeeds, my vivid memory is that there were accredited investors and savvy buyers on both sides of those transactions perfectly capable of making independent decisions. Some of them were wrong and they lost money, but in virtually every case, they were well-equipped to make sound decisions … if they did their homework.

These challenges typically arise when people lose money … and there’s no question a lot has been lost. But, to assume that people who lose on one side of a transaction, are incapable of making prudent independent decisions and were sold a bill of goods , is the flawed argument that often pervade these matters. (more…)

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Read more about the article Vol. 60: Creating a Responsible Culture

Vol. 60: Creating a Responsible Culture

Build a Responsible CultureLast time, we discussed how to create a responsible culture where each individual accepts accountability for their actions and decisions.

In our discussion of this subject, we’ve ranged from the baseline of personal accountability to a broader organizational culture, to the battle-tested power of after action reviews.

So, if the power of an accountable organization is so obvious, why aren’t we all doing it?

Victimization has a stranglehold on American business

In “The Oz Principle,” a book by Craig Hickman (recently reissued in a revised and updated edition 10 years after its original publication), the overgrown roots of a victimization mentality is chronicled as one of the most corrosive forces in American business.

[pullquote]The man who complains about the way the ball bounces is likely to be the one who dropped it.~ Lou Holtz[/pullquote]

Mr. Hickman pulls no punches in deriding the plight of victimization that he believes has a stranglehold on American industry.

How many of these lines have you heard during your business career?

* “That’s the way we’ve always done it.”
* “That’s not my department.”
* “Someone should have told me not to do that.”
* “Why didn’t you ask me?”
* “Nobody’s followed up on this. It can’t be that important.”

[pullquote]Victimization is a corrosive force in American business[/pullquote]

It’s fodder for a Saturday Night Live skit, isn’t it? (more…)

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Read more about the article The Value of Checklists

The Value of Checklists

Checklists? Those lists I prepare each day and don’t help me get everything done – don’t really need to know more about them … or do you mean those checklists that airline pilots use to keep me from getting killed? Now, those I like.

Some of you will remember an earlier post in the GTD context about the value of checklists. Now comes the book, The Checklist Manifesto, inspired by issues found in operating rooms but expanded to the many areas where simple checklists are invaluable.

Checklists couldn’t be simpler. (more…)

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