![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Friday, February 02, 2007 5:08:11 AM
I am one of those who strongly opposes corporate "incest." I don't have the same feeling about privately held businesses--even very large ones--for a couple of reasons: I have no vested interest in the action so it's none of my business; and the deciding executive or owner has every right to apply any selection criterion he desires.
In the case of a large, publicly held corporation--let me randomly select Q--the preselection of Paul has to have happened years ago to permit him to be cycled through the appropriate internship. There might even have been a "competition" for the job between Paul and his brother, even though neither might have been aware of it. I understand that the board approved IJ's choice of Paul, and I will mention the term "rubber stamped" only in passing.
No matter how Paul's ascension was ordained, the probability that Qualcomm selected and named the very best candidate for the job is almost infinitely small. The selectors can have confidence that they have chosen the very best only after they have had the opportunity to evaluate the resumes of and interview applicants from the self-selected universe of minimally quallified candidtaes.
Even at levels below a full, open announcement of the recruitment, let us suppose that the board had competitively selected 3 to 5 potential successors to the post of CEO. All of the candidates selected would have undergone the same intersnhip as Paul, whatever that was. Would Paul have emerged from the competition as the top performer? Could be. Wanna bet?
As I see it, Paul would likely have had a 1:3 or 1:5 chance of being the "best." Those are not good odds for any enterprise. It was preselection--nepotism--at its worst and virtually guaranteed that Qualcomm could not get the best person for the job. Adequate? Probably. Best? Unilkely.
My objection is not based on emotion; I suppose envy would be the word I should use in the context of the sentence I quoted to open this sermon.
My objection is based on established principles of effective personnel selection and management. To follow any other set of guidelines or principles is to commit a corporation to being led by less than the best.
IMO, of course.
Recent QCOM News
- U.S. Index Futures Mixed Following Tech Sell-Off, WTI and Brent Crude Dip Slightly • IH Market News • 06/25/2024 10:37:15 AM
- Trump Media Resells Stocks and Warrants; KB Home Exceeds Q2 Expectations, and More News • IH Market News • 06/20/2024 10:55:11 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 08:07:43 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 08:07:25 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/03/2024 09:27:46 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/03/2024 08:14:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 09:38:33 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/22/2024 09:19:58 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/21/2024 11:34:48 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/21/2024 08:22:32 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/21/2024 04:03:50 PM
- CalPERS to Oppose Exxon Mobil Directors; Microsoft Unveils Copilot+ PCs with AI Focus, and More News • IH Market News • 05/21/2024 11:18:35 AM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 05/17/2024 08:04:13 PM
- OpenAI’s Reddit Partnership Boosts Shares by 14%, Microsoft Embraces AMD Chips for AI, and More News • IH Market News • 05/17/2024 11:36:28 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/16/2024 09:19:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/13/2024 08:53:27 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 08:29:42 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 08:29:27 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/10/2024 05:28:50 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/09/2024 08:38:03 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/09/2024 07:58:26 PM
- Bain Capital in Talks to Acquire PowerSchool; Blackstone Emerges Victorious in Hipgnosis Bidding War, and More News • IH Market News • 05/09/2024 11:53:19 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/09/2024 11:35:48 AM
- Meta Platforms Expands AI Ads, Apple Boosts iPhone Shipments, and More Highlights • IH Market News • 05/08/2024 12:27:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/06/2024 08:24:33 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California • NBRI • Jun 27, 2024 9:00 AM
Branded Legacy, Inc. and Hemp Emu Announce Strategic Partnership to Enhance CBD Product Manufacturing • BLEG • Jun 27, 2024 8:30 AM
POET Wins "Best Optical AI Solution" in 2024 AI Breakthrough Awards Program • POET • Jun 26, 2024 10:09 AM
HealthLynked Promotes Bill Crupi to Chief Operating Officer • HLYK • Jun 26, 2024 8:00 AM