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June, 2005

 

Scrushy acquittal a setback for US corporate crimes clampdown Yahoo! News, June 29, 2005
	The acquittal of HealthSouth founder Richard Scrushy, the first chief executive charged under the Sarbanes-Oxley corporate reform law, is a stunning setback for the US government's crackdown on white-collar crime, analysts said Wednesday. "I think it's a huge disappointment for everyone who was counting on Sarbanes-Oxley to rein in excesses in the corporate suite," said Thomas Donaldson, professor of business ethics at the Wharton School of the University of Pennsylvania. (Also appeared in Agence France Presse and TODAYonline.com.)
Balance is the key to success; Authors offer strong framework The Hamilton Spectator, June 18, 2005 By Jay Robb
	I came out of CEO meet-and-greet seriously confused about success. The group get-together was one of the stops on an orientation tour for new hires. An overly keen newbie in the front row shamelessly tossed out the ceremonial first question. What's it take to be a great leader like yourself? You must be willing to make personal sacrifices if you want to be successful. Less family time is a foregone conclusion. I left the meeting asking if it really had to be success versus family? I left the meeting asking if it really had to be success versus family? It doesn't have to be, say authors Laura Nash and Howard Stevenson, Just Enough: Tools For Creating Success in Your Work and Life. In fact, if your family become strangers then you're pursuing success in a short-sighted and potentially self-destructive way.
Impetus of CSR should be giving back to society FT.com, June 7, 2005 By Dr. Joy Cherian
	In his article "Defining the value of doing good business" (FT Mastering Corporate governance, June 3), Prof. Thomas Donaldson stated: "In the global market economy, the role of a company is about more than maximising profits alone. Corporate social responsibility means doing business with integrity and fairness and it may even improve the bottom line." This is true. Those of us who are deeply interested in social responsibility issues have been witnessing an interesting trend recently in the social responsibility engagement of many institutions, particularly of certain corporations. (Also found on the Courier News website.)
PART 3: Defining the value of doing good business Financial Times, June 3, 2005 By Thomas Donaldson
	In the global market economy, the role of a company is about more than maximising profits alone. Corporate social responsibility means doing business with integrity and fairness - and it may even improve the bottom line. It is impossible for managers to sidestep corporate social responsibility (CSR). A recent analysis of 95 empirical studies on corporate social performance and corporate financial performance by Harvard's Joshua Margolis and JP Walsh at the University of Michigan showed that about nine times as many studies revealed a positive correlation between corporate social performance and corporate financial performance as those that indicated a negative one. Research by Thomas Dunfee at Wharton, Nikolai Rogovsky at the International Labour Organisation and David Hess at the University of Michigan has described how companies can enhance philanthropic impact by engaging in "Corporate social initiatives".
Keeping Secrets CFO Magazine, June 1, 2005 By Alix Nyberg Stuart
	It could be an episode of "The Sopranos." As revenues at $2.4 billion HealthSouth Corp. begin to falter, CEO Richard Scrushy in the role of Tony Soprano, browbeats "the family", a group of top lieutenants including five CFOs, into falsifying a wide range of financial reports. But many other factors also made HealthSouth susceptible to fraud. "I wish I could say it was all about Scrushy, but I can't," says Edwin Hartman, director of the Prudential Business Ethics Center at Rutgers University. "There's a lot of research that suggests a HealthSouth could happen anywhere." (Also appeared in Economist Intelligence Unit - Executive Briefing.)

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