Who Killed Enron
Newsweek, May
30, 2006
By Allan Sloan |
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With so many dollar
signs floating around and the company's
stock soaring, no one was interested in
bad news--a problem that's hardly
limited to Enron. "A lot of people don't
want to hear the straight truth," says
Thomas
Donaldson, a business-ethics
professor at the University of
Pennsylvania's Wharton School.
"Investors don't want the CEO to say
something negative that will drop the
stock, even for the short term. There's
a culture of puffery, a culture of
winking." |
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Since
Enron, companies keep eye on ethics
St. Louis
Post-Dispatch, May 27, 2006
By Joseph Menn |
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"The percentage of
people who are interested in cheating is
probably the same as 10,000 years ago,"
said Timothy Fort,
business ethics professor at George
Washington University. "I don't think
there's any fix for that."
Meanwhile, stock-based pay for
executives has continued to climb to
levels unimaginable a decade ago, so
that even if the penalties for getting
caught are increasing, so is the
incentive to cheat. |
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Ex-chief
Lay indicted in fall of Enron
Baltimore Sun,
May 27, 2006
By Robert Little |
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"It's been a wake-up
call to a lot of corporate executives,"
said Dean W.
Krehmeyer, executive director of the
Business Roundtable Institute for
Corporate Ethics at the University
of Virginia. Lay's indictment
"reinforces the message. We've seen
enough executives and folks walked away
in handcuffs and indicted that I believe
the message has been received." |
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Un
jurado declara culpables de fraude a ex
directivos Enron
Yahoo! Spanish
Wire, May 26, 2006 |
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"Lo que Enron
representa es el fracaso de los
mecanismos de control en múltiples
niveles: el consejo de administración
falló, los auditores financieros
fallaron, los asesores jurídicos
externos fallaron", estimó
Thomas Dunfee,
profesor de ética empresarial en la
Wharton School of Business. |
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Sanctions
on Raytheon CEO Deemed Fitting
[Registration
Required]
Workforce
Management Magazine, May 26, 2006 |
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Given that he took
responsibility for his actions, and that
he has a reputation of being an "ethical
leader" and a strong-performing CEO, the
board’s response was entirely
appropriate, says
Linda Trevino,
a professor and director of the
Shoemaker Program in business ethics at
Pennsylvania State University.
"What he did was a mistake, and that was
wrong, but he didn’t profit from it and
it wasn’t intentional," says Trevino,
who, before the scandal broke, had asked
Swanson to be a speaker about ethics
because of his reputation in this area.
The offer stands and she is waiting to
hear back from him. |
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After
Enron climax, US rethinks law on
corporate scandals
Agence France Presse (AFP), May 27,
2006 |
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"I think we need to
reform Sarbanes-Oxley,"
Thomas
Donaldson, a professor of business
ethics at the University of
Pennsylvania's Wharton School who had
testified in Congress in favor of the
2002 law, told AFP. "It was rushed into
existence. Its main aim was to calm the
markets, to calm investor sentiment,
which it did. At the same time it has
been interpreted by accounting firms in
extremely expensive, suffocating ways,
and it costs way too much. The bang is
not worth the buck." |
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Reaction
to Enron convictions
The Richmond
Times-Dispatch, May 26, 2006 |
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"Business has lost
the public's trust. I hope these
convictions give people a sense that
justice has been served. For every
Enron, there are 10,000 companies trying
to do the right thing."
- R.
Edward Freeman, professor at the
University of Virginia's Darden Graduate
School of Business Administration and
director of the
Business Roundtable Institute for
Corporate Ethics |
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Dr.
Ethics, I Presume: Where to Get a
Doctorate in Business Ethics
Business Ethics,
Spring, 2006 |
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Such studies "are
desperately needed in this field--call
it CSR, ethics, business and
society--[it] is going to survive" at
the university level, declares
Thomas
Donaldson, a professor of legal
studies and business ethics at Wharton
... The University of
Virginia's Darden School has graduated
several students with a Ph.D.
specialization in business ethics, and
"every single one of them is in a tenure
track position," say
Prof. Patricia
H. Werhane, director of the program
... Business ethics
specialist Timothy
L. Fort arrived last year at George
Washington University from the
University of Michigan with a mandate to
design a strategy to incorporate ethics
into the academic program ...
At Pennsylvania State
University ... the management and
organization department trains students
first to be generalist management
scholars, then supports their focus in
particular areas.
Professor Linda
Trevino has trained a number of
doctoral students in business ethics. |
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Firm's Fall Led to
Change in Conduct: Enron's collapse
spurred a crackdown that increased
pressure on corporate leadership to
enhance and enforce ethics guidelines.
Los Angeles Times, May 26,
2006
By Joseph Menn, Times Staff Writer |
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Such laws have changed
the behavior of both executives and
board members, said
Linda Trevino,
director of the ethics program at
Pennsylvania State University's business
school. |
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Jurado declara
culpables de fraude a ex directivos
Enron
Univision.com, May 26, 2006 |
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"Lo que
Enron representa es el fracaso de los
mecanismos de control en múltiples
niveles: el consejo de administración
falló, los auditores financieros
fallaron, los asesores jurídicos
externos fallaron", estimó
Thomas Dunfee,
profesor de ética empresarial en la
Wharton School of Business. |
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Les ex-patrons
d’Enron reconnus coupables
La Tribune de
Genève, May 26, 2006 |
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«Ce qu’Enron
représente, c’est une faillite des
mécanismes de contrôle à de multiples
niveaux. Le Conseil d’administration a
failli, les auditeurs financiers ont
failli, les conseillers juridiques
extérieurs ont failli», a estimé
Thomas Dunfee,
professeur d’éthique des entreprises à
la Wharton School of Business. |
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Ethics experts
weigh in on Enron guilty verdicts
Professor hopes the scandal serves as a
warning to future leaders.
South Bend Tribune, May 26, 2006
By
Christina Hildreth |
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“It’s only a
matter of time till we have other
scandals,” said
Patrick E. Murphy, a professor of
business ethics at Notre Dame. “We have
creative people out there, and they will
find a way around laws at some point.” |
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Enron shook
corporate world, led to sweeping reforms
Agence France Presse (AFP), May 25,
2006 |
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"What Enron
stands for is multiple gatekeeper
failure -- the board failed, the
auditors failed, the outside law firm
failed," said
Thomas Dunfee, a professor of
business ethics at the University of
Pennsylvania's Wharton School of
Business. |
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Making Boeing fly right
Chicago Tribune, May 20, 2006
By Ameet Sachdev, Tribune staff reporter
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"Companies
that can strike a sweet spot of ethics,
law and economics can sustain long-term
success," said
Joshua Margolis, a professor at
Harvard Business School whose research
focuses on corporate ethics. |
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The crooked E:
What's next; How some top Chicago minds
are viewing the happenings in Houston
Crain's Chicago Business, May 15,
2006
By John T. Slania |
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David Messick,
professor of ethics, Northwestern
University's Kellogg School of
Management :
Q: Will Jeffrey Skilling be convicted?
A: It's going to be tough. Skilling is
accused of crimes that are more subtle
than outright fraud. It's about what he
knew or didn't know. |
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Rule No. 1: Don't
Copy: The CEO of Raytheon became a
management guru with his book of maxims.
How he missed a key one
Time Magazine, May 7, 2006
By Lisa Takeuchi Cullen |
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"If I were a
board member or a shareholder, it would
raise questions in my mind about how
honest, transparent and responsible a
CEO is being in other dealings," says
Andy Wicks,
co-director of the University of
Virginia's Olsson Center for Applied
Ethics. |
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U. Arkansas: U.
Arkansas speakers claims accountability
key to good leadership
U-Wire, May 3, 2006
By Christopher Vincent, Arkansas
Traveler (U. Arkansas) |
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Reckford
cited Laura Nash,
a Harvard business professor, who
distinguishes between Christian
businessmen who recognize no conflict
between their careers and their faith
and those who recognize a "constant
tension" between their religious life
and their professional life. |
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