Advice From A Failed CEO On Tort Reform

Uniformly and incessantly CEO’s urge tort reform as a cure for all problems. Even the CEO of Delphi Corp. which has just declared itself bankrupt is spouting the memorized mantra from the deck of his sinking ship. Precisely when his skills as a corporate executive are revealed as less than were required he urges Americans to accept less than what simple justice requires. Nice try, Mr. Failed CEO.

Every CEO in the country must have attended the same seminar. Uniformly and incessantly they urge tort reform as a cure for all problems. Even the CEO of Delphi Corp. which has just declared itself bankrupt is spouting the memorized mantra from the deck of his sinking ship. Precisely when his skills as a corporate executive are revealed as less than were required he urges Americans to accept less than what simple justice requires. Nice try, Mr. Failed CEO.

The following are excerpts from remarks made by Chairman and CEO Robert “Steve” Miller to reporters in Washington, D.C., on Friday:

October has been a watershed month for the key automotive sector, with Delphi’s bankruptcy and GM’s historic rollback of retiree health-care benefits.

First, I’d like to share my perspective, starting specifically with Delphi and then, since this is Washington, I’d also like to talk about public policy implications….

We are reaping the harvest of years of putting more and more of our country’s social costs on the backs of private employers. We lament the loss of jobs to foreign entities that sell goods to our consumers without those burdens. How long are we going to put up with it? Why do you think the next big Toyota assembly plant in North America is being built in Canada? The calculus of health-care costs might have been a major factor.

We could spend a month talking about all the things that could be done to reduce the cost of health care. It’s an important debate. Tort reform, prescription drugs, information technology, and health savings accounts all need to be part of the mix. Clearly it’s time to consider some bold proposals. I expect to join in the discussions as we search for answers. It won’t be easy…

I would say it was’t easy to migrate all the way from explaining your bankruptcy to pushing tort reform. You did it seamlessly. Are you able to do it in any other languages?