http://news.moneycentral.msn.com/breaking/breakingnewsarticle.asp?feed=OBR&Date=20050515&ID=4450029
Education and wisdom with age are valuable assets as Greenspan points out here:
Greenspan reminded students -- and anyone else paying attention -- that his resume is likely to be a lot longer than theirs.
``I could offer all kinds of advice to today's graduates from my nearly six decades in private business and government,'' he said
More interesting is the power shift that is happening because of technology and disclosure. Less and less are boards and CEOs able to run companies close to the chest. The private boys club wields less and less power as information workers and shareholders become privy to company data.
Not only can CEO performance be measured better, but so too can company insiders be better informed to lead the company and challenge the CEO.
Greenspan told graduates that modern technology makes company information more widely available and that corporate captains face diminished power and closer scrutiny as a result.
``With information systems now accessible to broader ranges of managers and other employees, the monopoly power that proprietary information affords has been significantly reduced,'' he said.