Back in April 2005, Bob Merritt, who had at that time been the CFO of Outback Steakhouse for over 15 years, dramatically resigned from the company during the quarterly conference call because of his resentment of the

increasingly negative regulatory environment in which we now operate. The recent lunacy over lease accounting, as an example, took me past the breaking point and has convinced me that the environment is not going to get any better any time soon.

I view the recent accounting fiasco as a complete failure of regulatory and other bodies which oversee financial accounting and reporting.

Merritt's resignation was discussed in detail at that time at Ideoblog and elsewhere.  Now Merritt is back with more in this article entitled "The Sarbanes-Oxley Act: A Personal View," in which he concludes by stating that he knows "of no seasoned public company CFO who has not thought of making a career change at this point."