Just what does a CEO do?

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This isn’t exactly a golden moment in history for chief executive officers. We have one of the most prominent CEOs of our time just getting out of prison; the top man at Boeing Co. being forced to resign because of an affair — after he had been brought back to improve the company image; Bernie Ebbers giving a test drive to the “I don’t know anything about finance” defense as Ken Lay and others take notes.

Here’s hoping that Central Iowa CEOs operate, if not on a pedestal, at least on a higher plane than those jokers.

The CEO has occupied a lofty position in American business for quite some time, but the recent high jinks just might take the title down a notch. Writing on Slate.com, Daniel Gross came close to reducing the job description to “cheerleader.”

Comparing the roles of CEO and CFO, Gross came up with three theories.

In the first, he referred to the financial officers as, by and large, “honest numbers dorks who have been schooled to match up assets with liabilities. . . . Caution is part of the CFO’s job description.” By comparison, CEOs are “professional optimists. To lead a company, a CEO must be relentlessly positive, even in the face of contrary evidence,” Gross wrote.

His second theory sees CEOs as little more than salespeople for the company’s stock. “So, of course they say everything is getting better.” But the CFO deals with bond investors and bankers “who tend to ask tougher questions and are more interested in cash flow and data than in strategy.”

Or it’s possible, in Gross’ estimation, “that CEOs are just clueless spectators to the complex things going on around them, while the CFOs actually make all the crucial financial decisions.”

Disturbing theories, all.

Relentless optimism might sound like a good leadership trait, but we’ve all seen people get in trouble by failing to acknowledge and deal with problems.

Focusing on nothing but stock price is like worrying about the point spread instead of coaching the team.

And you really hate to see the word “clueless” applied to anyone who is making many times more in salary than the people who get the core work done.

Of course, local CEOs have an advantage. People here are always willing to believe that big shots on the coasts are reprehensible egomaniacs, while assuming that our leaders are terrific human beings. Don’t let us down, CEOs.