If any of the legal players in the Rhode Island lead paint public nuisance drama will be writing a book on this landmark case it's smart to wait until the reimbursement phase is a wrap. The turmoil happening as a result of the defendants's motion for compensation of certain legal expenses could be a game-changer, at least in how the story is told.
An object lesson in the need to hold off running into print comes from the Delphi turnaround roller-coaster. As Jeffrey McCracken and John D. Stoll report in today's THE WALL STREET JOURNAL, that turnout might not happen. Instead, as they note, "Giant auto-parts maker Dephi Corp. is sliding deeper into trouble, raising doubts about its ability to survive as a stand-alone company."
Yet, last spring, with more than the usual fanfare, the controversial Chairman of Delphi Steve Miller published his book "The Turnaround Kid." Now, of course, we see that it was premature. There's more, though. In it, Miller, who should have waited to get out of Dodge, spoke negatively about those who he still needs to help with a turnaround, if such is still possible.
Why would a smart business leader - Miller was the financial brains during the Lee Iacocca-led turnaround of Chrysler - make these two significant mistakes? I discussed this syndrome of executive myopia with a number of coaches. The consensus is that most if not all folks at the top are insulated from reality by yes-people and, worse, sycophants.
But there's a way out of this gilded cage. Increasingly, outside advisers to the brass are telling them to keep asking themselves: If I had no reputation, money and no goal invested in this venture, what decisions would I be making today? Had Miller done this he might have realized it was reckless to be putting a book out there before the fat lady sings.
This weekend leaders in all professions, be it business or law, might embark on some delusion-purging. They can read "What Got You Here Won't Get You You There." It doesn't miss a trick on how decision-makers tend to make lousy calls because they see cause and effect where there is only correlation, and a faulty one at that. The eye-opener is by Marshall Goldsmith, who admits that many who claim they want to change won't. They simply won't accept that past success can impede present accomplishments.
Disclosure: I wrote speeches for Miller and other members of Iacocca's turnaround team at Chrysler.