NOVEMBER 10, 2007 --

The stock market performance of late underscores continued volatility where sure and steady performance should prevail. As my late father, Sol Zukerman would say, "no good will come of this."

In times gone by, the leaders of the private sector were well known to the public.  Which CEO -- however impressive by corporate service and/or remuneration -- is a household name, today?

Has private industry abdicated the field to politicians, lobbyists, broadcast personalities and an assortment of public interest groups?

Is the country served by the disappearance of Captains of Industry?

Is the public served by volatility in the stock market with  explanations  from headline writers for market performance that, under slightest scrutiny, make no sense?  

(How soon until the day market decline is attributed to the need of a third world despot to be treated with the Heimlich maneuver.)

Isn't the public left to conclude that stock performance is a function of unexplained circumstances that create interesting opportunities for none but well-place Wall Streeters?

For this writer, the failure of the media to educate the public on economic matters is indicated by silence on gas-at-the-pump prices. Two years ago, the price at the pump seemed to be nearing $4.00 (perhaps, in certain sections of the country, reaching that level).

Two years ago, the price of crude was considerably lower than today as it nears $100 a barrel.   Unexplained is why, at more than $90 a barrel, the pump price, thus far,  is lower than it was when crude was $60 or so a barrel.  Or is the U.,S. economy -- that is to say, American consumers --  to be hijacked with a catastrophic oil price hike that, toppling the stock market,  will be viewed as an economic 911.

Again, where are the Captains of Industry to accept a responsibility to address the public in the name of the Common Good? Or are there no longer any captains -- just … corporals?