• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation

3

Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation

3

Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
LeadershipPower Sheet

A Defense of Paul Ryan

By
Geoff Colvin
Geoff Colvin
and
Ryan Derousseau
Ryan Derousseau
Down Arrow Button Icon
By
Geoff Colvin
Geoff Colvin
and
Ryan Derousseau
Ryan Derousseau
Down Arrow Button Icon
October 11, 2016, 10:32 AM ET
Add Fortune on Google for similar content.

Imagine the agony of Paul Ryan now.

Yesterday the House Speaker, America’s top ranking elected Republican, said he would never again campaign with or for Donald Trump and would no longer defend him, in the wake of the now-infamous video released last Friday. But, Ryan said dissonantly, he was not withdrawing his endorsement of Trump. Was he being hypocritical? Cowardly? Commentators on the left and right quickly said so. But before condemning Ryan, let’s think about the cruel dilemma he faces. It’s of a type that confronts many top-level leaders.

For seven months Ryan has been writhing in his struggle to reconcile his obvious loathing of Trump with his responsibilities as the country’s top Republican. Ryan is clearly appalled by about 80% of everything Trump says and would presumably love to say so. His failure to do it has been branded as weakness, an unwillingness to choose the painful but honorable course when confronted with a difficult choice. The Harvard Business School’s Gautam Mukunda argued this view explicitly in a valuable article on beliefs vs. values at the Harvard Business Review’s website last summer.

But in a case like Ryan’s, this line of argument omits an important element. Ryan holds limited authority over all the Republicans in the House, where they are the majority. If we do him the courtesy of assuming he wants what’s best for the country, and that he sincerely believes mainstream Republican policies are generally best, then he rightly wants to preserve the Republican majority. For him, denouncing Trump isn’t analogous to a CEO firing a manager who produces good results in bad ways; Ryan isn’t CEO of anything, and he can’t hire or fire officeholders (let alone Trump). Denouncing Trump could antagonize millions of Trump supporters whose votes are needed by Republican representatives, potentially surrendering his party’s control of the House. By doing so, he would have benefited no one whom it was his duty to benefit. Of course he could have resigned – he never wanted to be Speaker anyway – and then vented to his heart’s content. But that would have achieved nothing.

Yes, this type of argument – I would have been happy to sacrifice myself, but I owed duties to others – can by used to justify all kinds of malignant behavior. It can also be valid and honorable. In light of Ryan’s high reputation among legislators of both parties, I’m inclined to believe he isn’t being selfish or hypocritical in taking the tortured position he has adopted regarding Trump. I suspect he’s doing his best in an impossible situation, sure to be savaged no matter what he does. Part of a leader’s job is living with circumstances in which all of one’s alternatives are bad.

#

Significant but overlooked in Sunday night’s presidential debate was Trump’s statement to Hillary Clinton that “if I win, I am going to instruct my attorney general to get a special prosecutor to look into your situation.” Many lawyers found it extraordinary. To understand why, please see this analysis by Fortune’s Roger Parloff. If the law isn’t your field, I can promise you’ll be enlightened.

#

New on this week’s Fortune Unfiltered with Aaron Task: a conversation with Bethenny Frankel, reality TV personality and founder of Skinnygirl. Who’s she, and what’s Skinnygirl? If you don’t know, you’ll be glad you found out: https://itunes.apple.com/us/podcast/fortune-unfiltered-aaron-task/id1135636641?mt=2/listen#/ps/I3c74wdipy2osrynfayuij5v7jm

You can share Power Sheet with friends and followers here.

What We're Reading Today

Wells Fargo consolidates around COO
The troubled bank has shifted more oversight to COO Tim Sloan, previously designated as heir apparent to CEO John Stumpf. Wells expanded or created three new management roles, all of which now report to Sloan. Stumpf has struggled in responding effectively to the fake-accounts scandal and reports of a high-pressure sales culture. American Banker

Samsung ends production of Note 7
Instead of a second recall to fix replacement Galaxy Note 7s, which are showing the same overheating problems as the first version, Oh-Hyun Kwon's company will end production. Customers will likely receive refunds or exchanges. The damage to the company is huge -- billions in direct costs, the loss of an effective competitor to Apple's iPhone 7, and brand damage that could last years. BBC

Theranos sued for securities fraud
San Francisco hedge fund Partner Fund Management says Elizabeth Holmes's company lied in order to raise nearly $100 million of capital. The suit claims  Holmes and COO Sunny Balwani overstated the various tests the company's technology could perform. Theranos denies the accusations. Fortune

Salesforce could yet buy Twitter  
As many suitors for Jack Dorsey's Twitter bowed out, investors grew pessimistic that the social media company could find a buyer. But Marc Benioff's Salesforce remains interested. While executives of both companies continue to discuss details of a deal, some Salesforce investors have signaled disapproval of a merger. NYT

Building a Better Leader

Sh@*! Millennials more likely to swear in the office
Two out of three say they curse at work, and nearly 75% of millennial women in management admit to swearing vs. 58% of all Gen-Xer and Boomer managers. Daily Mail

To gauge whether to invest in an early-round startup...
...make sure you trust the management team -- do they know what they're doing? Is there something special about the technology? If you're blown away, maybe it's worth considering.  Fortune

Employees can now sell back their unused vacation time
PTO Exchange is a startup that lets employees sell unused vacation time back to their employer in return for travel or contributions to 401k and health savings accounts. Bloomberg

Political Battles

Buffett responds to Trump accusation
Fighting criticism over not paying income taxes for nearly 20 years, Donald Trump said Warren Buffett has also used tax-loss carryforwards. Buffett fired back, saying he has never used carryforwards and has copies of all his tax returns since 1944 to prove it. He also provided details about his tax history; he paid $1,845,577 in federal income tax last year on adjusted gross income of $11,563,931. USA Today

New email leaks reveal tension over Clinton Foundation
WikiLeaks has released another round of emails from Hillary Clinton campaign chairman John Podesta showing tension between Chelsea Clinton and former Bill Clinton aide Doug Band. Chelsea had grown concerned over a business Band had created, Teneo Holdings, and its payments to Bill. Representatives of Teneo clients had called the British Parliament on behalf of the former president. Band responded by calling Chelsea a "spoiled brat." Chicago Tribune

Could Trump prosecute Hillary?
Trump said in Sunday's debate that if elected he would instruct his Attorney General to appoint a special prosecutor to investigate Clinton. But former AGs of both parties say no AG is required to obey such an order. The president can ask the AG, who would consider the proposal. But forcing the AG to attack a political rival is what you find in "banana republics," says Laurence Tribe, professor of constitutional law at Harvard Law School. Fortune

Up or Out

Cisco CTO Zorawar Biri Singh will leave by the end of the month. Fortune

Fortune Reads and Videos

Verizon still intends to buy Yahoo
But Verizon CEO Lowell McAdam said the company may try to renegotiate the $4.8-billion price because of the recently disclosed hack into the accounts of 500 million Yahoo users.  Fortune

Tyson Foods invests in...
...a faux-meat company. It has taken a 5% stake in plant-based food company Beyond Meat, helping the startup to expand distribution.  Fortune

JC Penney's latest tactic to revive interest
The department store will deploy greeters to welcome shoppers. Fortune

Presidential debate viewership declines nearly 25%
Over 63 million households tuned in, a big drop from the record-setting audience of the first debate. Fortune

Happy Birthday

PayPal cofounder Peter Thiel turns 49 today.  CrunchBase

Share Today's Power Sheet: 
http://fortune.com/newsletter/powersheet/

Produced by Ryan Derousseau
@ryanderous
powersheet@newsletters.fortune.com
About the Authors
Geoff Colvin
By Geoff ColvinSenior Editor-at-Large
LinkedIn iconTwitter icon

Geoff Colvin is a senior editor-at-large at Fortune, covering leadership, globalization, wealth creation, the infotech revolution, and related issues.

See full bioRight Arrow Button Icon
By Ryan Derousseau
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Leadership

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Leadership

clark
North AmericaMedia
Ryan Clark found out he was fired live, mid-broadcast, on NFL Live as ESPN undergoes first major layoffs in 3 years
By Joe Reedy and The Associated PressJuly 22, 2026
2 hours ago
A woman observes stock trends on her smartphone while a computer screen displays financial graphs.
NewslettersCFO Daily
Beyond SpaceX: Why great IPOs depend on more than first-day demand
By Sheryl EstradaJuly 22, 2026
3 hours ago
Arrakis cofounder and CEO Rafael Quintanilla.
Startups & VentureVenture Capital
Exclusive: Arrakis, betting AI’s biggest payoff is in industrial sectors not office work, emerges from stealth with $38 million in venture funding
By Jeremy KahnJuly 22, 2026
3 hours ago
ls
Commentarybooks
Confessions of an award-winning AI memoirist — the ‘slop’ debate isn’t really about good writing, and you know it
By Luke StoffelJuly 22, 2026
4 hours ago
b
Commentarythe future of work
Manpower President: The future of work question that even CEOs can’t answer
By Becky FrankiewiczJuly 22, 2026
4 hours ago
nela
Successdisruption
Exclusive: Stanford and ADP have new payroll data on Gen Z women losing ground to men in the job market—and AI isn’t the main culprit
By Nick LichtenbergJuly 22, 2026
4 hours ago

Most Popular

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
2 days ago
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
Cybersecurity
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
By Jeremy Kahn and Emily ForliniJuly 21, 2026
20 hours ago
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
AI
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
By Eva RoytburgJuly 21, 2026
23 hours ago
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
Success
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
By Sydney LakeJuly 20, 2026
2 days ago
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
Success
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
By Emma BurleighJuly 21, 2026
1 day ago
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
AI
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
By Jason MaJuly 18, 2026
4 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.