Thursday, September 21, 2006

Wanted: Some Good Spin

I almost feel sorry for whomever is in charge of "crisis management" at Hewlett-Packard. Today's Washington Post story portrayed an almost comically Nixonian executive suite, with the CEO (allegedly) countenancing a "sting" operation directed at a reporter.

This kind of thing requires a higher than ordinary degree of spin.

My suggestion is that the company follow the example of Salomon Brothers after its bond trading scandal in 1991. Replace the CEO or chairman with a godlike character like Warren Buffett, and then hire an ex-SEC chairman to conduct an "internal investigation" for a couple of dozen-million bucks.

Above all, stop the leaks! The WaPo story was based on a leak, and that is simply no good. Why not hire a detective and see who's behind it?

© 2006 Gary Weiss. All rights reserved.


Wall Street Versus America was published by Penguin USA on April 6.
Click here for its listing and here for more information on the book, from my web site.

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