You understand, don’t you, that this kind of thing has happened before? Different players, different amounts, different circumstances. But we've been there.
When times are good and all of us are buying fancy $5 coffee, no one much cares…or notices. Good fortune covers a lot, like a rising tide that covers a littered beach.
But these days, when the tide is going out….we notice it all.
What to do now: Punish the wrong-doers fast and hard. No out-on-bond deals. I can be as forgiving as the next guy, but today the message must be: You do wrong, and you get to make small rocks out of big ones. Visit Jeffrey Skilling (Enron crook) in prison here in southern Minnesota and ask him, “How’s life inside, Jeff?”
What to do next? You know the issues, you tell me.
G.L. Hoffman is a serial entrepreneur and venture investor/operator/incubator/mentor. Two of his companies have traveled the entire success path from the garage to IPO. Currently, he is chairman of JobDig. His blog can be found at WhatWouldDadSay.com or at JobDig.com.