Liking CBS's CEO For The Right Reasons

I've posted several times that I like Les Moonves, CEO of CBS (CBS). I think he relished the chance to take what the conventional wisdom tagged a "boring, old media company" -- and transform it into something exciting.

And Moonves defines being successful as rewarding shareholders. He's boosted the dividend, announced share buybacks, and shed non-core assets. Yet most of his press has centered on hiring Katie Couric to anchor the CBS Evening News and firing radio host Don Imus. Neither event has had a meaningful impact on the stock price. And that won't change.

That makes Paul R. La Monica's recent piece on CNNMoney so refreshing -- it's about stuff that matters. And it also points out risks to owning the stock (though I anticipate holding it for a while yet). It's important to note this article was written before CBS released its latest results.