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Industrial Relations : Theory & Policy hrm701 essay on arbitration
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Coleen Colombo and Colleagues Resist Mortgage Fraud Synopsis: Coleen Colombo began employment with BNC the Sacramento California Concord branch in 2003. The Concord office was part of a regional group that subsidized $1.2 billion of loans a month. Coleen was hired as a senior underwriter for the Concord branch. Initially Coleen thrived in her position during one of her performance evaluations; she achieved a top rating of “exceed expectations.” It’s easy to say that Coleen loved her job with BNC, at is before the bottom fell out of the subprime lending market. Coleen and five of her colleagues, all women, said that they were highly compensated successful employees with the company. In 2005 the environment drastically changed, …show more content…
Gary Gwilliam filed a lawsuit on behalf of the women with the Sacramento County Superior Court. The BNC attorneys tried to have the case sent to arbitration, stating each woman signed an agreement when they were hired giving up their constitutional right to a jury trial forcing them to bring any claims of maltreatment before a single arbitrator. The Sacramento Court agreed that the arbitration agreement was not enforceable because they were not freely negotiated. The agreements were also unmerited because BNC reserved the right to a jury trail if it chose to sue the employees. The Third Appellate Court agreed with the Sacramento Court on September 26, 2007. Gwilliam was pleased with that decision and stated, this was a victory for the average worker against large employers who try to limit access to justice by forcing their new employees to sign arbitration agreements. Gwilliam also stated that the women became victimized by the company they were trying to …show more content…
Moral Intelligence is the mental capacity to determine how universal human principles that cut across the globe should be applied to personal values, goals, and actions. And integrity, responsibility, compassion and forgiveness are key elements of moral intelligence. Integrity is to act consist with principles, values, and beliefs; to tell the truth and to stand up for what is right and keeping your promises. Sylvia and the other ladies displayed tremendous integrity in the face of adversity. Meanwhile the man wholesaler and management refuse to take responsibility, show compassion or forgiveness (although the ladies didn’t do anything wrong to be forgiven for. They were unjustly treated simply because they made an ethical choice to do the right thing and to value their moral
depicted in this story was. Emotional intelligence ultimately triumphed over practical intelligence, and the “relationship”
There were a few issues of fairness presented in Michael Simpson’s case that happens in in real world work places that prevents employees from working to their full potential or causing them to leave the work place all together. In this case study Michael Simpson is faced with the dilemma of whether or not he should leave Avery McNeil, the accounting at which he is currently working at. Simpson had interviewed with many consulting firms before graduating college, and had chosen Avery McNeil because it had the potential to allow him the most rapid advancement in his career. Within two years of working their he was promoted to manager and he received a great pay raise. However, a few days later Simpson came upon a sheet with pay grades of other
Integrity is having a good reputation with ethical principles and being honest no matter the circumstances. People who have integrity are very ethical with their professions. In many cases integrity may mean a lot to a person who grew up with moral principles and this have a huge influence on how they live their life. Integrity is often reflected on plays, for example in the Crucible a play by Arthur Miller. One of the main character Rebecca Nurse had the opportunity to live, by confessing that she was a witch and by making false accusations on people, but instead she disagree and died. However this character died with integrity and knowing that her election was the best for everyone on town.
There is, I believe, no easy way to solve the foreclosure crisis. The reason for this is that the underlying problem is not merely the individual foreclosures. The underlying problem isn’t even all of the foreclosures as a whole which constitute the crisis. No, the real underlying problem is ultimately human greed. Consequently, the way to solve the foreclosure crisis, I believe, is not merely through some kind of “stimulus plan.” Yet, this matter shall be examined more thoroughly later.
Mortgage loans are a substantial form of revenue for the financial industry. Mortgage loans generate billions of dollars in the financial industry. It is no secret that companies have the ability to make a lot of money by offering a variety of mortgage loan products. The problem was not mortgage loans but that mortgage companies were using unethical behavior to get consumer mortgage loans approved. Unfortunately, the Countrywide Financial case was not an isolated case. Many top name mortgage companies have been guilty of unethical behavior. Just as the American housing market was starting to recover from its worst battering since the Great Depression, a new scandal, an epidemic of flawed or fraudulent mortgage documents, threatens to send not just the housing market but the entire economy back into a tailspin (Nation, 2010).
Over time people have constructed the universally accepted idea that integrity is strictly being honest and being a person who can do no wrong. Integrity has become a moral trait, however, it is so much more than that. The powerful tale To Kill a Mockingbird by acclaimed author Harper Lee supports the fact that there is a wider definition of integrity than honesty and morality. From characters like the righteous Atticus Finch to the fierce Mrs. Dubose to the innocent Boo Radley the real definition of integrity is shown throughout the novel. Integrity is not strictly about being honest or ethical but it is about being able to pull everything together, to make it all happen no matter how challenging and about being consistent in values and principles.
The problem to be investigated is the ethics and effects of subprime loans on the financial institutions, borrowers and stakeholders. The subprime market was created to provide borrowers with a FICO score below 570 access to home loans. Inopportunely these loans were a major financial risk as most of the borrowers did not have the long-term income to pay for the high interest rate loans. (Jennings, 2012)
Individuals like the two young and rambunctious mortgage consultants portrayed in the film gave loans to anyone and everyone that could sign the paper, regardless of the recipient’s ability to pay the loan in full. It is doubtful that all consultants fully understood the ramifications of their actions, but undoubtedly the overall disregard for consequence was the start of the collapse. Mortgage consultants mislead and tricked people into loans they could never afford by playing on their desire to live the American dream. Distributing adjustable rate loans to individuals without jobs, without collateral is unconscionable. Unfortunately, from their perspective they were helping these individuals. In a twisted way, these consultants were acting ethically from a utilitarian point of view. The consultants won because they received utility in the form of a bonus for distributing the loans, and the loanee won because they could now afford the home of their dreams. What the consultants didn’t consider in their calculations were the long term results and utility of their actions, unethically building the flawed foundation of the housing
Integrity is something that is instilled in us from our past experiences of life and how we were raised. Everyone will have different values and beliefs, but if they hold true to them, they are displaying integrity. Professional integrity in nursing is crucial to the practice. Nurses must establish and hold onto their values as well as respect the values of the patient and know how to balance it all to provide the best possible care. Integrity is developed through experiences in the clinical setting, as well as life experiences and each person can grow and develop their integrity each
...company workers being affected by the financial crisis. We don’t want to point fingers here only assess the ethical dilemmas that these companies face. Subjective human judgment opens up for the possibility of undesirable human biases and manipulation. However, with or without human judgment, financial models of credit risk are subject to manipulation, both legally and fraudulently.
I discovered how sticking to one’s morals should be the topmost priority for everyone involved in business, whether personal or professional. Regardless of what the consequences may be, the intensity of the problem, and the complexities it may bring, sacrificing one’s integrity should never be an option, as integrity goes hand-in-hand with the morals of an individual (Duggan & Woodhouse, 2011). They further go on to say that having individuals take part in building a code of ethics that supports employee integrity, they will act ethically. Also, I believe that companies should place more emphasis on the moral behavior of their employees, and clear-cut policies should be set regarding such ethical situations. Furthermore, I realized how serving justice while making decisions really helps in the long run, and that opting to go for the ideal rather than they deserved is not always the best option, and could hurt a company in more than one
To prosper as individuals, it is essential to control a sense of honesty, in simple hopes of maintaining humane, respectable standards and boundaries. This honesty, however, is often asked of extension, now presumed to mature into a component well known as integrity. Learning, consequently, is inhabited through these expectations of strict dedication and independence. And although learning is accomplished abundantly, there is only a certain extent of upholding this righteous behavior. Though teachers, bosses, parents, or companions may be satisfied with the efforts of their lesser, they fail to realize that the request of integrity has not been fulfilled. Integrity, being the unflawed ability to completely dedicate one’s personally believed morals is a specific, well-rounded trait, difficult to be entirely possessed by a faulty being.
Integrity is the quality of being honest. When you are honest about something or a certain situation you are considered a person of integrity. Also when you have integrity you have strong moral principles. When you have strong moral principles you know what is right and what is wrong. “Having integrity means doing the right thing in a reliable way. It's a personality trait that we admire, since it means a person has a moral compass that doesn't waver. It literally means having "wholeness" of character, just as an integer is a "whole number" with no fractions.” Furthermore, having integrity is a quality that many strive to have because it often means that you are a good person.
The term “ethics” refers to an external set of rules that have been established by an institution or organization, for example, a university, and the members are expected to follow them. On the other hand, integrity refers to an individuals’ internal set of principles that guides their actions and behavior (Czimbal and Brooks n.p.). As a rule, people are usually rewarded when they follow ethical codes of conduct by an external committee or board that monitors their behavior. For a person of high integrity, the benefits are usually intrinsic. Moreover, such individuals always make the right decisions even when they are not being watched. Therefore, this feature of character is often influenced by a person’s upbringing. In
Another division found in virtue ethics is the development and manifestation of virtues. While several philosophers stress the importance of developing virtues in the character, so these virtues can manifest later in actions, other philosophers claim virtues should not be developed subjectively and generalize their development based on the entire society (Oakly & Cocking, 2004). In other words, it is possible to argue that Sally did not develop the virtue of justice and equality because she worked against existing policies and treated one client differently. In this scenario, she did not display loyalty to the company, but it is possible that her compassion overpowered her sense of logical reasoning.