March 28, 2002 09:46 AM

In a masterful PR move, Joe Berardino, CEO of Arthur Andersen, resigned.

If you are to believe his PR machine, Berardino, in an effort to show the world that Andersen can change, put a bullet in his own head, sacrificing his job for the sake of his company and employees. Ostensibly this was a result of witnessing the demonstrations of Andersen employees.

Bullshit.

Berardino quit because he realized it was hopeless. The only thing worse than being associated with the huge debacle that Andersen has become, is to continually be associated with it as the company spirals into oblivion. By spinning his resignation as an altruistic move to save the company, he gets to go out with at least a little dignity. He'll lay low for awhile, and then land a sweet gig someplace else. After all, if you listen to him, this wasn't his fault to begin with.

This is nothing but a captain abandoning his sinking ship.

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