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February, 2005

 

IRS offers to settle on tax shelter schemes: Proposal targets companies, officials who shielded $700 million Baltimore Sun, February 23, 2005 By Meredith Cohn
	"The state of ethics in corporate America is better today than it was a few years ago," said R. Edward Freeman, academic director of the Business Roundtable Institute for Corporate Ethics. In an effort to rein in corporate tax-avoidance schemes, the Internal Revenue Service said yesterday that it is offering settlements to 42 companies and about 200 of their executives who it claims channeled hundreds of millions of dollars worth of stock options through improper tax shelters. (Also appeared in First Associates Investments.)
Outstanding Faculty Honored The Richmond Times-Dispatch, February 16, 2005
	Gov. Mark R. Warner has named 12 teachers at Virginia colleges and universities as this year's recipients of the state's Outstanding Faculty Award. The awards program is administered by the State Council of Higher Education for Virginia and paid for by the Dominion Foundation. Among the winners was R. Edward Freeman, Elis and Signe Olsson professor of business administration, co-director of the Olsson Center for Applied Ethics and academic director of the Business Roundtable Institute for Corporate Ethics at the University of Virginia's Darden Graduate School of Business Administration.
SCHEV's 2005 Outstanding Faculty Award Given to Darden School Professor R. Edward Freeman UVA Top News Daily, February 16, 2005  By Dan Heuchert
	Spend some time in R. Edward Freeman’s well-cluttered office, and you likely unearth several clues as to why the State Council of Higher Education for Virginia presented him with a 2005 Outstanding Faculty Award on Tuesday. Freeman's presence at Darden was one of the factors that led the Business Roundtable, a group of 160 chief executive officers, to establish its Institute for Corporate Ethics at U.Va. and install Freeman as its academic director, said Dean Krehmeyer, the institute’s executive director, himself a former Freeman student. “Ed is the pioneer of stakeholder theory, at least as it is discussed today,” said Darden colleague Andy Wicks, another former Freeman student. His 1985 book, “Strategic Management: A Stakeholder Approach,” is far from rehash. “He was the first one to write it down and connect all the strains of thinking together and make it fit as theory and strategy.” Freeman’s approach was revolutionary, not evolutionary, Wicks said.
Telecom Merger Concerns The San Francisco Chronicle, February 16, 2005 By David Lazarus
	It's increasingly likely that an influential insider at one company can go virtually overnight to being a key figure at a competing firm -- and take along everything he or she knows about the company's operations and strategies. Take the case of Carlos Slim, the richest man in Latin America. He's MCI's largest shareholder and thus a force to be reckoned with in the newly merged Verizon MCI, or whatever it's to be called. A seat on Verizon's board isn't out of the question. As it happens, however, Slim was a director of rival SBC until last summer. He'd served on the Texas telecom giant's board since 1993. Edwin Hartman, director of the Prudential Business Ethics Center at Rutgers University, said SBC's corporate leaders are probably a good deal more interested in this matter than the company lets on. "If I was a member of SBC's board, I'd certainly want to know more about this," he said. "If I was on Verizon's board, I'd want to ask whether it's appropriate to have someone like that around," Hartman said. "There may be nothing illegal going on, but it raises a lot of ethical questions."
The Making of a Global Star Philippine Daily Inquirer, February 14, 2005 By Isagani Yambot, Publisher
	What does it take to be a global star? How does a local star in the movie and sports industries make the crossover to global star? How do you define success? These were among the questions recently asked in a panel discussion at the annual meeting of the World Economic Forum. Taking an analytical tack, Laura Nash, senior lecturer at the Harvard Business School, discussed some of the findings in her book on star power and chief executive officers, "Just Enough: Tools for Creating Success in Your Work and Life.'' She asked, "What is lasting success? Today the trend toward celebrity is powering itself, and we now have a beast to feed.'' She said that charismatic leaders became brands themselves, as well as the face of their companies. But one false step and they are replaced immediately.
"Shady" Workers Struggle to Shed Labels ; Gallup Poll | Bad Reputations of Some Jobs Resist Change  The Seattle Times, February 6, 2005 By Michael L. Diamond
	Car salespeople, advertising professionals and lawyers were joined by members of Congress, business executives and reporters as the professions rated lowest in honesty and ethical standards in a recent Gallup Poll. As a result of having a poor reputation, some business people may be charged higher transaction fees. Others may be the target of regulations from lawmakers, said Edwin Hartman, director of the Prudential Business Ethics Center at Rutgers University. "You should be concerned about a bad reputation, even if your reputation is not deserved," Hartman said.
Challenge asks students to consider ethical issues Tri-Town News, February 2, 2005  By Dave Benjamin
	It’s business as usual as six Freehold Regional High School District teams face off to solve real-life ethical dilemmas encountered in the corporate world. This year Marlboro High School came out the winner in the second annual Team Challenge, An Ethics Initiative for Tomorrow’s Leaders. Judges included Edwin Hartman, director, Prudential Business Ethics Center, Rutgers, the State University of New Jersey. Hartman, who recently attended an ethics competition at a New England college, praised the FRHSD students for an outstanding performance. He said their presentations were on par with college undergraduates. “People often go along with the program without thinking about consequences,” Hartman said. He urged the students to step back and ask themselves if they are doing bad things and not even noticing it.

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