FAH-Q Rupert Murdoch

FAH-Q = For All to Hear & Question. ; )

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http://www.bloomberg.com/news/2011-07-20/murdoch-s-refusal-to-take-responsibility-may-undermine-credibility-as-ceo.html

EXCERPTS:

“Deflecting Blame

The blame for the phone-hacking scandal lies with employees, Murdoch told U.K. lawmakers.

‘Do you accept that ultimately you are responsible for this whole fiasco?’ lawmaker Jim Sheridan asked.

‘No,’ Murdoch answered.

‘You’re not responsible? Who is responsible?’ Sheridan said, according to a Roll Call transcript.

‘The people that I trusted to run [the tabloid], and then maybe the people that they trusted.’

When Murdoch was asked if he was guilty of ‘willful blindness’ or ignoring ‘knowledge that you could have had and should have had,’ he said: ‘We were not ever guilty of that.’

Murdoch’s testimony cast doubts about his leadership abilities and judgment, said Finkelstein, the Dartmouth professor.

‘You can’t just say you’re humbled,’ Finkelstein said. ‘There’s no world-class company around that doesn’t want a CEO who demands to hear about these types of things in real time. Rupert didn’t seem the least bit concerned about that.’

Investors reacted positively to the testimony, which produced no new headlines that were immediately damaging to the company. News Corp. Class A shares rose 83 cents, or 5.5 percent, to $15.79 yesterday in Nasdaq Stock Market trading. In Australia, they rose 4.7 percent to A$15.18 at 2:53 p.m. Sydney time….

Rupert Murdoch’s refusal to take responsibility for the hacking scandal that has slashed $5.89 billion from the market value of News Corp. (NWSA) may undermine his credibility as chief executive officer.”

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