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ManagementSpeak: “While we don’t think we did anything illegal or unethical, from the standpoint of reputation risk we would not do this transaction today.” — A spokesperson for J.P.Morgan, reported in The Wall Street Journal, Monday, December 9, 2002
Translation: We’re guilty as sin, but we can afford better lawyers.
KJR club member Curt Cohee performs the highly ethical act of translating J. P. Morgan’s explanation.

ManagementSpeak: Thanks for clarifying that point.
Translation: Now we’re confused at a higher level.
Thanks to this week’s anonymous IS Survivalist for clarifying what we’re confused about.

The Senate just passed patent reform legislation.

So here’s a thought: Rather than reform the Patent and Trademark Office (PTO,) why not just outsource the sucker to the European Patent Office? It would be cheaper and far less risky than fixing the one we have.

This follows the usual but unadmitted reason businesses outsource. Shorn of all the academic fur that surrounds the subject, businesses outsource when they’ve given up on their own ability to be competent at whatever-it-is.

And so, they turn over responsibility for it to another company, figuring their shortcomings will be magically transformed into superior competence when the relationship they’re managing is with another company instead of a fellow executive.