One Former CEO Tells The Mining CEO How He Blew It

[originaly posted Sat., March 10, at 10:24 p.m.] Another interesting piece from the business blog of John Torinus.

As a former CEO, I have a somewhat different take on the political melt-down over the ferrous mining bill for Wisconsin. Top executives are paid to get results, and the negative vote in the state senate and decision by Gogeobic Taconite President Bill Williams to pull out of Wisconsin was anything but a positive result for the company.

President Williams needs to take a look in the mirror before doling out a lot of blame. The chorus of job champions on the right, most of who have never created a job or made a payroll, have turned their recrimination machines on Dale Schultz, a former GOP majority leader in the senate, and on the 16 senate Democrats who voted “no.” It was all their fault.

Yet any seasoned CEO would take a step back after such a flop of a major initiative and ask where he or she went wrong. Ditto for the Republican leaders in the legislature.

Williams decided on a unilateral strategy of teaming up with the Republican majorities to pass a law that that would streamline the mining permitting process. Democrats had no voice in the process. Environmental groups were also excluded. Is it any wonder, then, that they refused to support the one-sided bill that was presented?

He issued what amounted to be ultimatums, which is risky negotiating tactic seldom employed by seasoned CEOs. Ultimatums have a way of blowing up in your face.

More about the bill and some analysis of Williams' corporate strategy, here.