Wayne State University law professor Peter Henning commented about Joseph Nacchio, the former CEO of Denver-based Qwest Communications. Nacchio is charged with improperly selling $101 million of stock. Henning said Nacchio is fighting "hindsight bias" because he was supposed to know what was going on at his company since he was the CEO. "That's why his defense is so important," said Henning. "It takes what I think is otherwise an implausible defense of, 'I thought the company was doing well,' and gives it at least a measure of plausibility."