Dennis Kozlowski was living his dream as a multimillionaire and if anyone got in the way of his dream to create his empire then they would be stepped on like a bug. This is what happened to Jeanne Terrile at Merrill Lynch. Terrile smelled something funny coming from Tyco and when she acknowledged that something was wrong, she was shut down quickly. Nobody knows for sure if Kozlowski paid off the CEO of Merrill Lynch, David Komansky, or not and nobody knows what they talked about. The fact is that Jeanne Terrile was replaced and the stock recommendation for Tyco soon changed after their talk. Terrile decided to do what she thought was right and make sure to notify people of what she thought of the company. Because of Terrile’s ethical decision …show more content…
to do the right thing, she was unfortunately replaced with someone that would turn a blind eye to the unethical things her boss, Komansky, was doing as well as the things going on at Tyco. Terrile was unfortunately backed into a corner by her boss, because if she changed the stock recommendation (unethical) then she could keep her job and if she did not change the recommendation (ethical) the she would be replaced.
She chose the ethical route and unfortunately was replaced. If I was the CEO of Merrill Lynch, I would have gone with my employee’s recommendation. If I had a CEO from a company request a meeting with me to discuss the stock recommendation, then I would personally make an inquiry into the information that Terrile had and why she made that specific recommendation. If everything checked out, I would have no other option to keep the original recommendation. I would not break my moral code and principles to justify an unethical decision to change a stock recommendation that could justifiable effect thousands or maybe millions of people if that stock crashed, which it did. I could not live with myself knowing that someone just lost everything they had because I decided to change a stock recommendation. No amount of money or persuasion would change my mind. If Kozlowski showed up in my office demanding me to change a stock recommendation, I would have called the SEC and the IRS and told them that there are some interesting things going on at Tyco and to look specifically at the
CEO.
The case of 17-month old Emilio Gonzales was seen and heard nation wide. A conflict between the mother and the physician emerged after the physician no longer expected there be an improvement in his health. This led to the decision of discontinuing providing care for the child and requesting the parents find another facility willing to provide such medical care. The main issue of this case revolved around whether the physician’s decision was morally permissible or legally just. Under Kantian Ethics, Children’s Hospital has moral reasoning to terminate treatment for Emilio and thus is morally justified in withdrawing treatment.
Kennewick Man has started and added to an immense saga about the ethics involved in excavating and studying the remains of other that passed away long and not so long ago. Kennewick man being one of the hottest topics of the media during the mid-nineties has proved to be one of the most trying ethical dilemmas of our time. An ethical dilemma as described by Kelley Ross Ph. D is a “conflict between the rightness or wrongness of the actions and the goodness or badness of the consequences of those actions” (www.friesien.com). In the case of the Kennewick man the coalition of the tribes are trying to do what is best for their culture and belief by having the Kennewick man buried and the scientists who want to study this strange humanoid that has shown up on the banks of the Columbia River and are acting how they believe this should be handled, with careful study and the need to find the knowledge that this skeleton can provide about America nine millennia ago; and here is the problem that has been floating around this case for little over a decade.
There is no simple answer to the social dilemmas facing our society in the present day. One could spend days arguing reasons in support or opposition for issues such as the morality of abortion, the existence of free will, or the feasibility of universal ethics. In Michael S. Gazzaniga 's book, The Ethical Brain, these controversial topics are discussed using a brain-based philosophy of life, commonly known as Neuroethics. Although there are several advantages to solving such predicaments using a scientific approach, it is equally important to consider the personal and social implications of an ethical decision. For this reason, I partially agree with the statement that human beings should use Neuroethics to deal ethically with social issues
In Karen Hos’ Liquidated, she aims to study the relationships between corporate America and the world’s greatest financial center. . . Wall Street. The. She puts all her three years of research in her ethnography and thus on the very first page of chapter one, we can already understand Hos’ determination to understand what Wall Street is all about. The first main theme explained is the relations on Wall Street that are based on a culture of domination of staff members, their irresponsibility dealing with corporate America, and constant changes that occur during this process.
A documentary film released in 2005 called the Smartest Guys in the Room reveals the shocking collapse of Enron. The Smartest Guys, Kenneth Lay, Jeff Skilling, Andrew Fastow, Lou Pai, Clifford Baxtor, and Arthur Anderson, were all involved with America’s ultimate Corporation Scandal. But who do we blame? Enron had over 20,000 employees and was founded by Kenneth Lay, CEO of Enron, in 1985. Lay wanted to push his views of deregulation which pushed him to start the company (SGR). The first event that happened leading up to the downfall was the president, Mr. Borget, and his traders manipulating the company’s earnings and exporting the profits to their personal account. When Lay made the decision to not fire them, it definitely raised the
Kyle’s case has many factors that may be significant: His parents’ divorce is still recent, starting middle school, puberty, family environment, etc. There is also a lot of information that is lacking to help me to understand what is needed. There is no information about his school performance, the domestic violence that took place, family relationships, social relationships, or even his interests.
Unfortunately stories like Sam Levine happen everyday. Is it morally ethical for doctors to know Sam Levine’s quality of life before he was admitted? Should that effect the care he receives? The best way to try and get a moral decision is by using the four principles, but first let us look back at the situation. Days ago Sam Levine was coherent enough to understand what medical care was being offered to him, but he quickly made a turn for the worst. When Sam originally decided that the medical staff use any means necessary to save his life, did he really thin about every scenario. Was every scenario giving to him by the healthcare professionals.
The stock market is an enigma to the average individual, as they cannot fathom or predict what the stock market will do. Due to this lack of knowledge, investors typically rely on a knowledgeable individual who inspires the confidence that they can turn their investments into a profit. This trust allowed Jordan Belfort to convince individuals to buy inferior stocks with the belief that they were going to make a fortune, all while he became wealthy instead. Jordan Belfort, the self-titled “Wolf of Wall Street”, at the helm of Stratton Oakmont was investigated and subsequently indicted with twenty-two counts of securities fraud, stock manipulation, money laundering and obstruction of justice. He went to prison at the age of 36 for defrauding an estimated 100 million dollars from investors through his company (Belfort, 2009). Analyzing his history of offences, how individual and environmental factors influenced his decision-making, and why he desisted from crime following his prison sentence can be explained through rational choice theory.
Jordan Belfort is the notorious 1990’s stockbroker who saw himself earning fifty million dollars a year operating a penny stock boiler room from his Stratton Oakmont, Inc. brokerage firm. Corrupted by drugs, money, and sex he went from being an innocent twenty – two year old on the fringe of a new life to manipulating the system in his infamous “pump and dump” scheme. As a stock swindler, he would motivate his young brokers through insane presentations to rile them up as they defrauded investors with duplicitous stock sales. Toward the end of this debauchery tale he was convicted for securities fraud and money laundering for which he was sentenced to twenty – two months in prison as well as recompensing two – hundred million in restitution to any swindled stock buyers of his brokerage firm (A&E Networks Television). Though his lavish spending and berserk party lifestyle was consumed by excessive greed, he displayed both positive and negative aspects of business communications.
On the surface, the motives behind decisions and events leading to Enron’s downfall appear simple enough: individual and collective greed born in an atmosphere of market euphoria and corporate arrogance. Hardly anyone—the company, its employees, analysts or individual investors—wanted to believe the company was too good to be true. So, for a while, hardly anyone did. Many kept on buying the stock, the corporate mantra and the dream. In the meantime, the company made many high-risk deals, some of which were outside the company’s typical asset risk control process. Many went sour in the early months of 2001 as Enron’s stock price and debt rating imploded because of loss of investor and creditor trust. Methods the company used to disclose its complicated financial dealings were all wrong and downright deceptive. The company’s lack of accuracy in reporting its financial affairs, followed by financial restatements disclosing billions of dollars of omitted liabilities and losses, contributed to its downfall. The whole affair happened under the watchful eye of Arthur Andersen LLP, which kept a whole floor of auditors assigned at Enron year-round.
"This is why the market keeps going down every day - investors don't know who to trust," said Brett Trueman, an accounting professor from the University of California-Berkeley's Haas School of Business. As these things come out, it just continues to build up"(CBS MarketWatch, Hancock). The memories of the Frauds at Enron and WorldCom still haunt many investors. There have been many accounting scandals in the United States history. The Enron and the WorldCom accounting fraud affected thousands of people and it caused many changes in the rules and regulation of the corporate world. There are many similarities and differences between the two scandals and many rules and regulations have been created in order to prevent frauds like these. Enron Scandal occurred before WorldCom and despite the devastating affect of the Enron Scandal, new rules and regulations were not created in time to prevent the WorldCom Scandal. Accounting scandals like these has changed the corporate world in many ways and people are more cautious about investing because their faith had been shaken by the devastating effects of these scandals. People lost everything they had and all their life-savings. When looking at the accounting scandals in depth, it is unbelievable how much to the extent the accounting standards were broken.
This case study is not about Ms. Stewart direct participation with illegal insider trading as the media had steered the public to believe. To begin, Ms. Stewart received a phone call from Ann Armstrong, her assistant, stating that Peter Bacanovic, her stockbroker, “thinks ImClone is going to start trading down.” (Arnold, Beauchamp, Bowie, 2013, p. 390) Although Ms. Stewart was not able to get a hold of Peter, she talked to his assistance, Douglas Faneuil,
Without Boeskey’s help, catching other insider-trading criminals would have been almost impossible. Ivan Boesky even wrote a book about his involvement in the world of insider trading; he called it Merger Mania. This case illustrates that there are real consequences to white collar crime. In addition to paying the fifty million dollar fine, he relinquished another fifty million dollars of his illegal trading profits. He still had millions remaining, however, from his illegal gains.
Jordan Belfort is the notorious 1990’s stockbroker who saw himself earning fifty million dollars a year operating a penny stock boiler room from his Stratton Oakmont, Inc. brokerage firm. Corrupted by drugs, money, and sex, he went from being an innocent twenty – two year old on the fringe of a new life to manipulating the system in his infamous “pump and dump” scheme. As a stock swindler, he would motivate his young brokers through insane presentations to rile them up as they defrauded investors with duplicitous stock sales. Toward the end of this debauchery tale he was convicted for securities fraud and money laundering for which he was sentenced to twenty – two months in prison as well as recompensing two – hundred million in restitution to any swindled stock buyers of his brokerage firm. Though his lavish spending and berserk party lifestyle was consumed by excessive greed, he displayed both positive and negative aspects of business communications.
...the agents to be the gatekeepers for keeping the corporation alive. While some of Dr. Friedman’s opinions came across bold and harsh, ultimately I feel that he presents a strong case for developing a profit-motivated company that does not treat its stockholders inappropriately.