Wednesday, July 7, 2010

A True Life Soap Opera – Galleon Revisited

Public figures – celebrities, politicians, and others who put themselves in the public eye, are fair game for the media to talk about. But I doubt that Bob Moffat ever expected his life would be an open book when he started working for IBM 30 years ago as a programmer.

Generally we know very little about the private lives of corporate executives, including those at the top.

Now, thanks to a career-fatal indiscretion, a guilty plea in the Galleon Insider Trading Scandal, and this Fortune article, I know far more about Robert Moffat, Jr. than I ever wanted to know.

Moffat is due to be sentenced at the end of July.


Greg said...

Talk about hubris!. It will be interesting to see if his family sticks with him. I suppose in one sense it is gratifying to see the mighty get caught out in a public display of stupidity. I live in hope of a Chiesi hitting on me for insider info - which of course I would refuse.

Kenneth H. Lee said...

I saw the article early this morning on the Facebook Wall of an IBMer I used to work with... Before I saw your blog posting.

One of the people who commented on his wall posting was my hiring manager into Advantis/IBM. She said that he was her hiring manager into IBM.

Everyone has their own opinion and image for people. She commented that he is a great guy..

Definitely more than I ever wanted to know about his personal life. I definitely do not feel sorry for him. When one plays with fire, one must be prepared to get burned.

Colette said...

Greg, it appears from the article that at least his wife is "standing by him".

Kenneth, yes, there were a lot of people who admired him -- and many who saw him simply as the "hatchet man".

Greg said...

I met him once. Like a lot of execs he was competent, confident, intelligent and very hard working. His achilles heel like many before him was (IMHO) he had a large ego.

Colette said...

Greg, it's interesting -- you almost HAVE to have a large ego to get those top jobs.

Kenneth H. Lee said...

It is interesting to see who and what gets defended. For the most part people who worked for him tended to say that he was a great person and that it is sad what happened to him. On the other people who were impacted by the actions he took on behalf of the company were outraged with him.

The same people who support him tend to think that IBM is still a great company to work for, while the ones who do not support him have little nice to say about the company.

I've always found it interesting that someone I know whose late father worked for IBM and mother still works for IBM still thinks of IBM as a great company to work for even though she has seen many of her friends get booted out of the company due to RAs. Her problem is that all she has really known is IBM since both of her parents worked for IBM and she has worked for IBM for most of her working life.

Getting off topic... Time to carefully get off my soapbox before I fall off.

Colette said...

Kenneth, what a great observation! I also noticed that there were a lot of people defending Moffat.

I will admit that I am still a staunch supported of IBM myself despite the fact that it's not the same company I joined.

Kenneth H. Lee said...

One could almost call it Stockholm syndrome.

I've also run across many IBM retirees in my online communities who are disgusted with the path IBM has taken. They "are happy that they are no longer with IBM", are sad to see "that the IBM they know no longer exists" and are pained to see what the current employees have to endure.

To them the Moffat incident is just another example of how badly IBM has gone off-track from its original core values.