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Ethics and Morality in Business                                                           
                                                                        Crisis Of Trust
 
TYCO CEO’s $6000 shower curtain Tyco probe may expand
TYCO CEO Arrrested $15000 Dog umbrella stand $14000 portable potty
 
SEC Bars Ex-Tyco Auditor   ,[object Object]
 
Enron files for bankruptcy                                                                                                                                                                                                
 
 
ENRON WHISTLE BLOWER
ENRON WHISTLE BLOWER
 
ENRON WHISTLE BLOWER
Here comes the crook
 
Jeff,I heard  You get  vegetarian  diet in the jail I hope my jail mate is not former TYCO CEO
Enron CFO I love  5 th  amendment
Former Enron Exec Kopper to Plead Guilty Kopper admits to laundering and fraud, agrees to help Feds in case                                       
                                                      
Wow ! My boss made so much money  - but won’t give me a  5% raise?
Yes - You did ! Andersen CEO Andersen Partner We did not ask him to shred
Yes ! I ordered the shredding                                               
Andersen's Houston office
Worldcom to restate the numbers                                                                   WorldCom facing world of obstacles WorldCom files  for bankruptcy
 
EBBERS GETS 25 YEARS
EBBERS GETS 25 YEARS
Former WorldCom chief, 63 years-old,  could spend the rest of his life in prison .
Scot Sullivan - Worldcom CFO
 
 
 
Worldcom Controller
 
 
 
 
Xerox was forced to restate earnings to reflect $1.4 billion less in pre-tax profits over the past five years as part of a settlement with the SEC which also included a $10 million penalty .                                                                         More Accounting Woes For Xerox
Adelphia CEO arrested Adelphia Files Lawsuit Against John Rigas and Other Former Executives and Board Members of Adelphia
Adelphia CEO arrested
Like father - Like Son
 
Qwest to restate the numbers Federal regulators  believe that Qwest Communications International Inc.’s disclosure late Sunday night that it improperly accounted for more than $1.1 billion of transactions during the past three years raises questions that need further investigation, according to people familiar with the matter SEC gets tough on Qwest accounting
When did Martha call the broker ? Martha’s broker blames his assistant                                                                                                      
Stewart convicted on all charges   ,[object Object],Martha Stewart Gets 5 Months in Jail
 
 
 
Lea Fastow enters prison   Wife of ex-Enron CFO Andrew Fastow begins day one of one-year jail term Monday
 
Imclone CEO indicted Feds want Waksal behind bars   In plea negotiations, prosecutors seek prison term of 7-to-10 years , indictments of family. July 30, 2002: 9:36 AM EDT  NEW YORK (CNN/Money) - Federal prosecutors have demanded during plea negotiations that former ImClone CEO Samuel Waksal serve a 7- to 10-year prison term for charges related to insider trading and are not willing to let his family members get off easy, a source close to the situation confirmed to CNN/Money Tuesday .                                                        
ImClone’s CEO Arrested
 
ImClone’s complex connections
                            
Salomon telecom analyst Grubman quits Controversial Salomon Smith Barney telecommunications analyst Jack Grubman, once one of Wall Street's biggest stars and dealmakers, resigned Thursday.  Grubman, the subject of congressional and regulatory probes, is the latest casualty of the telecom meltdown that has wiped out $2 trillion in shareholder wealth and sent once-soaring companies, such as  WorldCom and Global Crossing,  to bankruptcy court .
Too Close for Comfort GE's legendary former CEO Jack Welch kicks  up a controversy over his affair with a journalist                                                                                                                                                                                                                                                                       
Jack Welch’s perks after retirement The divorce papers filed by Welch's wife, Jane, detail his use of an  $80,000 per month Manhattan apartment  owned by the company,  court-side seats to the  New York Knicks  and  U.S. Open , seating at Wimbledon,  box seats at Red Sox  and Yankees baseball games,  country club fees,   security services,  and restaurant bills ,
SEC probes Williams energy trading Inquiry into trading volumes, methods determining reserves  Aug. 16 — Opening a fresh line of inquiry into Williams Cos., the Securities and Exchange Commission has asked the energy concern for information about how it accounts for credit and “prudency” reserves associated with its trading business.
SEC Chief Vows Ongoing Audit Probe of Halliburton
SEC investigates Halliburton Now that President Bush has already told in public that SEC will clear Cheney – I wonder What else I can do!   Harvey Pitt Chairman - SEC
Computer Associates' Sanjay Kumar Resigns Davide Dukcevich, 06.04.04, 1:00 PM ET  NEW YORK - Tech giant  Computer Associates  (nyse:  CA  - news - people ) said that Chief Software Architect  Sanjay Kumar  will resign from the company as the firm tries to resolve a  criminal investigation into its accounting .  Computer Associates said it is committed to reaching a settlement of the government's probe as soon as possible, and that Kumar's decision to step down was made in that spirit. Kumar, who resigned as chairman and chief executive in April, will cease all involvement with the firm, effective immediately.
 
 
Senate passes fraud bill Fraud bill rushed through Congress
                                       
 
 
Average investor - Screwed
Corporate  greed
Summer Of Mistrust Scamming CEOs have accomplished  what Osama bin Laden could not  –  i.e. denting our spirit.  Can anything restore our faith in the stock markets?
Many CEOs bend the rules (of golf) In that survey, commissioned by Starwood Hotels & Resorts, 82 percent of 401 high-ranking corporate executives admit to being less than honest on the golf course
                                                      
Morality and Ethics - Definition ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
The Serbanes Oxley Bill ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Sarbanes-Oxley Act of 2002 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Ethics Trust Morality
SEC paperwork requirements  Serbanes – Oxley Bill  aka Fraud Bill ,[object Object],[object Object],[object Object]
Corporate responsibility ,[object Object],[object Object],[object Object],[object Object],[object Object]
Enhanced Financial Disclosures ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Auditor independence ,[object Object],[object Object],[object Object],[object Object],[object Object]
Other provisions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],                                                                 
Antitrust – Contact with Competitors ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Gifts and Conflicts of Interest  ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],                              
Mutual Respect ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Price Discrimination (Robinson-Patman Act) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Code of Conduct – Doing business with Integrity ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
EEO and Workplace Conduct for Managers   ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Intellectual Property   ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Summary ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Jay Srinivasan h k n o u y QUESTIONS ?
 

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Ethics And Morality in Business

  • 1. Ethics and Morality in Business                                                           
  • 3.  
  • 4. TYCO CEO’s $6000 shower curtain Tyco probe may expand
  • 5. TYCO CEO Arrrested $15000 Dog umbrella stand $14000 portable potty
  • 6.  
  • 7.
  • 8.  
  • 9. Enron files for bankruptcy                                                                                                                                                                                                
  • 10.  
  • 11.  
  • 14.  
  • 16. Here comes the crook
  • 17.  
  • 18. Jeff,I heard You get vegetarian diet in the jail I hope my jail mate is not former TYCO CEO
  • 19. Enron CFO I love 5 th amendment
  • 20. Former Enron Exec Kopper to Plead Guilty Kopper admits to laundering and fraud, agrees to help Feds in case                                    
  • 22. Wow ! My boss made so much money - but won’t give me a 5% raise?
  • 23. Yes - You did ! Andersen CEO Andersen Partner We did not ask him to shred
  • 24. Yes ! I ordered the shredding                                               
  • 26. Worldcom to restate the numbers                                                                   WorldCom facing world of obstacles WorldCom files for bankruptcy
  • 27.  
  • 28. EBBERS GETS 25 YEARS
  • 29. EBBERS GETS 25 YEARS
  • 30. Former WorldCom chief, 63 years-old, could spend the rest of his life in prison .
  • 31. Scot Sullivan - Worldcom CFO
  • 32.  
  • 33.  
  • 34.  
  • 36.  
  • 37.  
  • 38.  
  • 39.  
  • 40. Xerox was forced to restate earnings to reflect $1.4 billion less in pre-tax profits over the past five years as part of a settlement with the SEC which also included a $10 million penalty .                                                                         More Accounting Woes For Xerox
  • 41. Adelphia CEO arrested Adelphia Files Lawsuit Against John Rigas and Other Former Executives and Board Members of Adelphia
  • 43. Like father - Like Son
  • 44.  
  • 45. Qwest to restate the numbers Federal regulators believe that Qwest Communications International Inc.’s disclosure late Sunday night that it improperly accounted for more than $1.1 billion of transactions during the past three years raises questions that need further investigation, according to people familiar with the matter SEC gets tough on Qwest accounting
  • 46. When did Martha call the broker ? Martha’s broker blames his assistant                                                                                                   
  • 47.
  • 48.  
  • 49.  
  • 50.  
  • 51. Lea Fastow enters prison Wife of ex-Enron CFO Andrew Fastow begins day one of one-year jail term Monday
  • 52.  
  • 53. Imclone CEO indicted Feds want Waksal behind bars In plea negotiations, prosecutors seek prison term of 7-to-10 years , indictments of family. July 30, 2002: 9:36 AM EDT NEW YORK (CNN/Money) - Federal prosecutors have demanded during plea negotiations that former ImClone CEO Samuel Waksal serve a 7- to 10-year prison term for charges related to insider trading and are not willing to let his family members get off easy, a source close to the situation confirmed to CNN/Money Tuesday .                                                    
  • 55.  
  • 58. Salomon telecom analyst Grubman quits Controversial Salomon Smith Barney telecommunications analyst Jack Grubman, once one of Wall Street's biggest stars and dealmakers, resigned Thursday. Grubman, the subject of congressional and regulatory probes, is the latest casualty of the telecom meltdown that has wiped out $2 trillion in shareholder wealth and sent once-soaring companies, such as WorldCom and Global Crossing, to bankruptcy court .
  • 59. Too Close for Comfort GE's legendary former CEO Jack Welch kicks up a controversy over his affair with a journalist                                                                                                                                                                                                                                                                       
  • 60. Jack Welch’s perks after retirement The divorce papers filed by Welch's wife, Jane, detail his use of an $80,000 per month Manhattan apartment owned by the company, court-side seats to the New York Knicks and U.S. Open , seating at Wimbledon, box seats at Red Sox and Yankees baseball games, country club fees, security services, and restaurant bills ,
  • 61. SEC probes Williams energy trading Inquiry into trading volumes, methods determining reserves Aug. 16 — Opening a fresh line of inquiry into Williams Cos., the Securities and Exchange Commission has asked the energy concern for information about how it accounts for credit and “prudency” reserves associated with its trading business.
  • 62. SEC Chief Vows Ongoing Audit Probe of Halliburton
  • 63. SEC investigates Halliburton Now that President Bush has already told in public that SEC will clear Cheney – I wonder What else I can do! Harvey Pitt Chairman - SEC
  • 64. Computer Associates' Sanjay Kumar Resigns Davide Dukcevich, 06.04.04, 1:00 PM ET NEW YORK - Tech giant Computer Associates (nyse: CA - news - people ) said that Chief Software Architect Sanjay Kumar will resign from the company as the firm tries to resolve a criminal investigation into its accounting . Computer Associates said it is committed to reaching a settlement of the government's probe as soon as possible, and that Kumar's decision to step down was made in that spirit. Kumar, who resigned as chairman and chief executive in April, will cease all involvement with the firm, effective immediately.
  • 65.  
  • 66.  
  • 67. Senate passes fraud bill Fraud bill rushed through Congress
  • 69.  
  • 70.  
  • 73. Summer Of Mistrust Scamming CEOs have accomplished what Osama bin Laden could not – i.e. denting our spirit. Can anything restore our faith in the stock markets?
  • 74. Many CEOs bend the rules (of golf) In that survey, commissioned by Starwood Hotels & Resorts, 82 percent of 401 high-ranking corporate executives admit to being less than honest on the golf course
  • 76.
  • 77.
  • 78.
  • 79.
  • 80.
  • 81.
  • 82.
  • 83.
  • 84.
  • 85.
  • 86.
  • 87.
  • 88.
  • 89.
  • 90.
  • 91.
  • 92. Jay Srinivasan h k n o u y QUESTIONS ?
  • 93.