Jack wrote:

You don't get a second chance to watch somebody else's money when
bags
of it disappear while you are out flying, running ropes, and shaking
hands. It doesn't matter how nice a guy you are.


I disagree with your sentiments, Jack. In fact, count me with Paul
Remde and others: I also have regrets about Dennis Wright leaving,
though it may be for the best.

I didn't agree with everything Dennis did but he impressed me with his
ability to take charge, organize, and make things happen. He did a lot
of good things for SSA and I will miss his presence, too.

I agree that based on what we have been told, he bears some
responsibility for not informing the Board sooner of the part of the
problem he'd learned. What makes me uncomfortable is that it seems
others must share that responsibility (e.g., SSA FinComm and the
Board). It's probably a necessary "housecleaning" step to change top
management when something like this happens. But those who come down
harshly on him, saying it's not enough to mean well and be dedicated,
should be just as demanding of the others who share responsibility for
this. Dennis may have been the ED but until recently (mid 2005, well
after the alleged financial irregularities began) it wasn't his job to
"watch somebody else's money." According to ExComm, that was Alan
Gleason's job...and Alan--the man everyone is pointing a finger
at--reported directly to the Board.

I'm not advocating punishment (unless Alan is proven guilty, that is).
The current and past directors involved are/were just as dedicated and
I know some have taken this failure very personally. I just want us all
to be intellectually honest. This problem was apparently caused by one
bad apple. But it was allowed to happen because of a flawed system in
which more than one person made mistakes. Replacing Dennis Wright
doesn't address this. We need to acknowledge the problem, analyze it,
and fix it.

Chip Bearden