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As former GE CEO Jack Welsh said on Morning Joe today, the President should have formed an oil industry task force early on, set them up in the Executive Office Bldg. in continuous meetings with his govt. staff to solve the Gulf problems. Joe Scarborough suggested that the White House made a political calculation early on not to “own” the issue, and judging by the continuing focus on BP’s bumbling, they might have been right politically. But it’s not helping solve the Gulf problem, and a unified command is still needed. Meanwhile, the BP CEO is seen yachting and the President golfing, while “Rome burns”. The actions are wrong, the optics are wrong, and the problem remains unsolved.

According to Booz and Co, in their study of the 2500 largest global companies, the CEO turnover rate last year was 14.3%, although the percentage of CEOs forced out was lower, at just over 3%. The former % seems high, and the later low, in these times, though I suspect the real percentage forced out is higher than indicated. From: The Economist, online.

May 2022
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