Front Page Failure vs. Inside Page Success

In Friday’s Wall Street Journal two leaders were featured. Across the top of the front-page headlines, American Express CEO John Thain's ousted from Bank of America was emblazoned. On page B3 lower left hand corner, Howard Schultz, CEO of Starbucks, was forgoing the annual bonus along with other executives. What a contrast with Thain’s recent demand for $10 million bonus and spending $1.22 million for his office renovation. Schultz not only did not earn a bonus based on recent performance, he has not had a salary increase in five years. Certainly, Schultz is well paid. However, his pay incentives are based on his ability to perform. Why wasn’t the news of Schultz’s accountability emblazoned across the front of the Wall Street Journal? Accountability and responsibility are character traits that Americans want to see.

If we want to change our thinking and attitudes, the positive character traits and ethical behaviors of CEOs, Members of Congress, and other leaders need to be hailed. I know, bad news and personal moral shortcomings make news and sell papers. However, there appears to be a sense of aurora of fame, glamour for being unethical and demonstrating hubris. Thain has demonstrated no shame in asking for what he perceived he deserved for failure of ethical leadership and critical thinking.

Where is the sacrifice? Where is accountability? Abuse of power and of the people’s money isn’t only in corporate America. A lack of sacrifice is pervasive in small towns, small businesses, and non-profits. The small private Beaufort Academy, Beaufort, South Carolina is laying off teachers based on personalities and keeping the top heavy administration in tact without any salary reductions while simultaneously telling parents that their children’s education will be better than ever. Not only was administration drinking the Kool-Aid, they were trying to dispense it to the parents. Why is it that administration, executive management, and other leadership positions do not take care of those for whom they are responsible? These people are more concerned about their image and short-term personal ambitions than the long-term progress of Beaufort Academy's vision and the needs of students, parents, and teachers. The moral objective should focus on what we can do to save as many jobs as possible, personal sacrifices included. Where is authentic leadership? Why not hail leaders who do what is right?