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Enron CEO Ken Lay and Global Crossing CEO Gary Winnick are both claiming that they knew nothing about the billion-dollar shortfalls, deceptive accounting and other problems at their companies. Experts say ignorance is a "potentially effective legal strategy," even though "you should expect chairmen to be aware of major factors affecting the business." After all, isn't that why they pay them the big bucks [6]?
Links:
[1] http://dev.prwatch.org/users/13916/sheldon-rampton
[2] http://dev.prwatch.org/topics/public-relations/crisis-management
[3] http://dev.prwatch.org/topics/corporations
[4] http://dev.prwatch.org/topics/ethics
[5] http://www.addtoany.com/share_save?linkurl=http%3A%2F%2Fdev.prwatch.org%2Fspin%2F2002%2F10%2F1472%2Fsgt-schultz-defense&linkname=The%20%22Sgt.%20Schultz%22%20Defense
[6] http://www.usatoday.com/money/companies/management/2002-09-30-cover-cms.htm
[7] http://www.sfgate.com/cgi-bin/article.cgi?f=/news/archive/2002/10/05/state0303EDT0004.DTL