Management and the Financial Crisis (We have met the enemy and he is us …)

The financial crisis of 2008-9 has revealed that our broad model of corporate governance is broken, independent of the shortcomings in the regulatory system. Managers and boards of directors in scores of systemically important firms failed to protect employees, customers, or shareholders, and placed the global financial system at risk. I assert that the root cause of the crisis can be found in five related systems: incentives; risk management and control; accounting; human capital; and culture. The worst firms had lethal combinations of strong incentives, weak control and risk management, flawed internal and external accounting, low skill and/or low integrity people, and corrosive cultures. Piecemeal attempts to fix elements of corporate governance will fail. The problem, to illustrate, is not just the structure of compensation. Nor will increasing required capital prevent problems at companies with strong incentives and weak controls. I believe that we may need a new kind of external agency for systemically risky firms that would take a holistic look at the five systems to identify weaknesses, make recommendations to managers and boards, and set regulatory policies, including assessing charges for insuring against losses. Without such a comprehensive assessment and improvement plan, boards cannot do their jobs, and the system will remain as subject to calamitous events as it was before the crisis.

What\u27s Wrong with Economics? It Ignores the Pogo Principle: We Have Met the Enemy and He is Us

The piece begins with the proposition that the economic perspective on human activity must reflect the fact that human beings transact in a world defined for the actors by social norms. An analysis of the crisis of 2008 is offered as a demonstration of the value of adopting such a broader perspective. Part two offers a historical model based on Adam Smith’s Moral Philosophy of such a broader analysis. The piece closes with the case that the history of ideas offers alternative perspectives on the questions we explore in economics today and thus can serve as a valuable resource for constructive skepticism of the current discourse

My Sinful Self: The Self as Enemy

“We have met the enemy, and he is us,” said Pogo. The “us” is our sinful self, which can be disposed of only by dying to faith in our own power to believe and rising to faith as the daily gift of Christ. For this, we need a preacher, the bringer of an external word to which we can clin

Critique [of Fascism: A Review of Its History and Its Present Cultural Reality in the Americas]

To quote the cartoon character Pogo: We have met the enemy and he is us. The key strength in Forbes\u27 analysis of fascism is his wide-ranging historical sweep and the way he shows that many elements in American character, such as prejudice against immigrants and eagerness for the spread of American ideas overseas, are related to fascistic tendencies throughout American history

The Role Of The Innate Immune System In Infl ammatory Bowel Disease: We have met the enemy and he is us

The human intestine contains about 1014 micro-organisms that critically contribute to tissue homeostasis, host metabolism and other benefi cial processes. Despite a continuous microbial exposure within in the intestine, the mucosal immune system is able to maintain a state of tolerance to the microbiota. An aberrant immune response of the intestinal immune system results in a defective tolerance in the intestine, which leads to a breakdown of intestinal homeostasis. This in turn, can lead to chronic intestinal infl ammation or inflammatory bowel disease (IBD). From an immunological perspective, exaggerated responses by mucosal T and B cells (the adaptive immune system) have traditionally been regarded as the key contributors to the pathogenesis of IBD. However, discoveries of innate defects that are associated with IBD have refocused the attention to this arm of the immune system. In this thesis we try to answer some of the open questions concerning the pathogenesis of IBD and defects in the innate immune system

Bending the Chain: The Surprising Challenge of Integrating Purchasing and Logistics

Over the last several decades, supply chain (SC) professionals have focused on performance issues that have emerged from a lack of commercial/business alignment with supply chain operations. Significant improvements have been made, and systemic processes (IBP—integrated business planning—and S&OP—sales and operations planning) have been developed to drive a fully integrated business. As business integration has continued to improve, the biggest SC opportunities have shifted. Every year, the University of Tennessee’s Global Supply Chain Institute networks with hundreds of companies, requesting information on emerging supply chain issues. Our recent research shows that one of the greatest business integration opportunities is found within the traditional supply chain functions themselves. (“We have met the enemy and he is us!”). Specifically, we believe a major strategic integration opportunity exists between purchasing and logistics, and failing to capitalize on this opportunity is very clearly causing many firms to miss important opportunities to create value

Les rêves de la raison

« We have met the Enemy and He is Us. »Pogo Possum L’ouvrage que j’ai le plaisir de préfacer réussit le tour de force de présenter, de façon bien plus subtile que tout ce qui a été fait à ce jour, les raisons et les implications du principe de précaution, tout en le remettant à sa juste place, qui est loin d’être aussi grande que tout le bruit médiatique qui l’accompagne le donnerait à penser. En France, les partisans du principe n’auront de cesse qu’il ne figure dans le préambule de la Const..

“The Battle of Moyland Wood”: The Regina Rifle Regiment, 16–19 February 1945

Although I have written accounts about the D-Day Landings in Normandy and several costly battles from the beaches to Falaise, I have always been reluctant to write about the tragic events at Moyland Wood in Germany. My reluctance stems from the fact that this operation was the most traumatic for me personally and, I think, for our commanding officer, Lieutenant-Colonel Allan Gregory, DSO, during the fighting in Western Europe. I take no pride in telling this story because my own performance in battle was inadequate. Further, I don’t wish to offend anyone by resurrecting memories that might better be forgotten, or to reveal information that does not reflect favourably on anyone. However, battle conditions place intolerable pressures on people, with unpredictable results. A hero today can fail tomorrow. A great leader last week can suffer from battle exhaustion this week. Fortunately, the Regina Rifles still had many heroes at Moyland Wood. Unfortunately, most of them were either killed or wounded. That’s why this story must be told