For almost two years, I have been writing a regular column for the North Bay Business Journal, a publication of the New York Times, a weekly business newspaper which covers the North Bay area of San Francisco – from the Golden Gate bridge north, including the Wine Country of Sonoma and Napa counties.

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Article References

• Estimate of TARP’s cost to Taxpayers Increases
• $296 Billion in Overruns in U.S. Weapons Programs
• Executives Took, but the Directors Gave … corporate governance issues
• Even Rick Wagoner’s Firing Got Lousy Mileage … another POV
• Wagoner didn’t deserve it … BW Featured Column
• We’re Not the Boss of A.I.G. … Carl Icahn on the realities of corporate governance

Article published – April 13, 2009

BUILDING A BUSINESS: Government’s awkward, costly intervention in economy

Only better corporate accountability, innovation can lead American industry

by Lary Kirchenbauer

I can’t help myself this week. The mounting encroachment by the federal government across the terrain of American enterprise is very troubling, so I hope you’ll join me as we take a slight detour to address a few of these issues.

I understand the outrage over the egregious pay packages, bailout bonuses and inscrutable investment products of many of the nations’ major financial institutions. I also understand the unsettling power of the lender of last resort. Yet, to ignore the federal government’s track record is like overlooking a cliff when climbing the Matterhorn. Two recent and provocative reports serve as vivid reminders of the federal government’s woeful track record and ineptitude at managing large-scale enterprises. (more…)