This is an interesting dialogue. And, again I agree with most of your position.

There is no doubt that RW was strangled budgetarily by LA. A question I cant answer is was RW CAPABLE of relating to LA in a way to allow him to release funds. If yes, then the dismal state of this organization is undoubtedly on LA's shoulders. If RW wasnt capable, shame on EFX for letting him stick around that long. Question: Did RW outlive most CIOs tenure?

Generally speaking, LA MUST know how dated his IT organization/operationally is because he blows past the normal 'extended' life cycle without batting an eye. I make this point because ANY # cruncher worth his salt would know how the industry norms stack up against his own #s. He pushes so far past that he exposes EFX to operational risk uneccesarily as well as driving up his operational expense too. I might add at what value to EFX, its shareholders and customers? This is another example where having LA runs ops is a disaster and strangles the BUSINESS by keeping them way behind the times and competitors....

Regarding the credit rating topic, I assume you are referring to EFX's own credit rating? Since its a click or two above junk, if they slip further it could have a significant impact forcing them to make significant repayments???

All of this of course..is my opinion and nothing more... :)