I commented earlier (June 26) about Whole Foods and CEO John Mackey’s use of his CEO blog to attack the regulators who were taking a little less optimistic view of the proposed merger with Wild Oats than what Mackey thought appropriate. Here’s what I wrote about this clash of cultures:
What makes this interesting is again the intersection of blogging–in this case CEO blogging–on the business environment. And the clash of cultures that exist. Government regulators want you to play nice with them or else they will use the only power they really have–the power to say “no”–against you. Get pissy with them and they have ways of getting back.
Well, it looks like they found an even stronger way of getting at Mr. Mackey. Now apparently the SEC is investigating Mr. Mackey to see if he violated the law when he blogged under a pseudonym. This revelation about blogging under a different name is causing problems for him in both the blog world and the regulatory world. He violated the first principle of blogging–transparency. And, now they are looking to see if he also violated the Regulation Fair Disclosure law.
Suddenly, a CEO blogging hero, known for his openness, outspokenness and being in tune with the blog culture may be fighting for his job–and some of it for the very reasons that made him a blog hero. Hmmm, a clash of cultures can get ugly.