What does your foundry stand for? (Editorial).

Nausea. This, I think, summarizes most Americans' response to the Enron fiasco. At a time when most of us were trying to relieve an already sick feeling from our guts, Enron's collapse and the continuing saga of confidence games only swirl the stomach bile more.

The full repercussions of this event aren't yet known, but it's the seemingly dissolution of human integrity that will be most difficult for us to forget. Particularly, the fact that so many employees, at the biggest and strongest company of its kind in North America, suddenly had to watch a career of the only sweat-equity they had flushed down the toilet. What's obvious, though, is this: the key parties forgot, or chose to forget, what they were there to do.

Clearly, employees (called "employee-owners" at Enron, by the way) do not always command levels of consideration even remotely near other "stakeholders." In the Enron case, leadership was "out to lunch" (with Andersen, of course), otherwise someone at either firm would have promptly called to the table the actions and ethics of those making decisions. And so much for the captains going down with the ship; these ones left on jet-skis--in style.

At times over the years, this page has voiced the position of management, namely their increasing challenges and right to a return on their risk. I've even gone so far as to join debates on more recent generations' expectations and work ethic, Arguments for two-way trust, loyalty and shared goals sure are tough to make with things like this in recent memory, however,

If ever a new business "credo" was needed, it's that companies should reemphasize their responsibility to the people doing the work. That, plus recognize that each manager put in such a role personifies the company; you can't separate managers--at any level--from the firm itself.

Somewhere along the way, Enron officials apparently concluded that earnings per share was all that really mattered after all, I feel for firms measured by such sound-byte horizons. But a ticking stopwatch and performance measured solely by a financial ratio are never an excuse for lack of leadership, including claims that one doesn't know what its lieutenants are up to.

Particularly now, the words of Grede Foundries' Bruce Jacobs, who delivered the Rentschler Memorial Lecture at last fall's AFS Foundry Executive Conference, strike a chord. Talking about his family-operated business, he said the primary reason for its existence is that "it stand for something--something philosophical, not financial." The real freedom of a family business, he said, is the opportunity to put values above financial results.

"When all is said and done," he stated, "if we have adhered to our principles, everyone should receive some measure of satisfaction--the foundry, the customers, the employees, the shareholders."

Does your organization truly know its values and principles; what charts its course at all times? Do you know where the gray areas cease to exist and where things are entirely black and white? Managing any business--particularly through difficult times--is a lot simpler when such "ground rules" are known. In this way, the hard and often painful decision also is more clearly seen as necessary for the good of the whole, rather than simply a salve for bad decisions elsewhere.

If nothing else, Enron reminds all of us of the enormous responsibility of the 21st century manager. Beyond other skill sets, managers must be ready to draw the line and fight what needs fighting, regardless of internal (and often political) ramifications. How about writing that into definition of "manager?"

While I contend that the casting industry largely holds itself to a high standard, we all benefit from remembering a few simple guidelines. To go about each day as if your actions will be detailed in the next morning's paper. Not to show only "circumstantial" integrity, but to exhibit traits worthy of leadership on a daily basis. And to do what's right because it's right, regardless of whether it's unpopular or difficult. Agreed-upon principles make all of these inherent to a firm's modus operandi.

It is entirely within our power to protect all the stakeholders we work for (employees, customers and yes, investors) from getting "Enron-ed." And, we can continue to sleep soundly at night.

Michael J. Lessiter, Editor/Publisher