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March 07, 2004

Eisner, Stewart Pay For Their Sins Commentary by Jon Friedman - The American people will accept as a fact of life that people make mistakes and that they'll do and say stupid things. But they won't accept a cover-up. The American people feel snookered when a powerful person tries to pull a fast one on them. When someone makes us feel like patsies, we want blood. We hate it when powerful people act arrogantly toward us. That's why President Nixon was forced to leave office in 1974 and why President Clinton was caught in a cauldron of controversies during his administration. Even with the public's strong negative feelings toward Eisner and Stewart, America, being a forgiving nation, might ultimately have felt less resentment if the wrongdoers admitted their errors. If Eisner had acknowledged that he made (numerous) bad decisions during the latter portion of his 20-year reign at the Magic Kingdom, his shareholders might have given him the benefit of the doubt when it came to Disney's problems with the theme parks - particularly after 9/11 - and the ABC network. If Stewart had told federal investigators that she panicked when she sold the stock, they might have concluded that her humility was... well, a good thing.

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