Wednesday, October 25, 2006

Why Do We Decry Excellence?

Here is a great article that gives you a flavor of what is behind Exxon's putatively "obscene" profits. Bill O'Reilly will be dismayed to learn that it is neither rapacious gouging of consumers nor sinister influence within the US government that drives Exxon's great returns. The keys are 1) they take risks, 2) they use the best technology and 3) are just so damn good at the details. It boils down to excellence plain and simple. Excellence is and ought to be rewarded, and that is why the stock goes up and Exxon executives earn the fattest salaries. Bill should be directing his ire at guys like John Browne who yearn to be heroes to the environmental crowd while scrimping on maintanence costs that ultimately causes environmental damage and, much more seriously, employee deaths.

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