The full essay is in Cases of Unethical Business: A Malignant Mentality of Mendacity, available in print and as an ebook at Amazon.
Saturday, February 12, 2011
Employing Smokers: Economic, Political and Social Aspects
Sunday, January 30, 2011
Amid Record Bonuses Goldman Sachs Enabled Greek Debt
The person who has the gold makes the rules. I suspect this is the operating mantra at Goldman Sachs even after the bank’s near-death experience (when Solomon Bros stock was taking a hit, Blankfein knew his bank could be next). As it turns out, the bank was involved in enabling Greece to stealthily spend beyond its means. Just after Greece had been admitted to Europe’s monetary union, Goldman helped the government quietly borrow billions, people familiar with the transaction said. That deal, hidden from public view because it was treated as a currency trade rather than a loan, helped Athens to meet Europe’s deficit rules while continuing to spend beyond its means. Additionally, in late November, 2009— three months before Athens became the epicenter of global financial anxiety — a team from Goldman Sachs arrived in Athens with a very modern proposition for a government struggling to pay its bills, according to two people who were briefed on the meeting. The bankers, led by Goldman’s president, Gary D. Cohn, held out a financing instrument that would have pushed debt from Greece’s health care system far into the future, much as when strapped homeowners take out second mortgages to pay off their credit cards.[1]
The full essay is in Cases of Unethical Business, available in print and as an ebook at Amazon.com.
1. Louise Story, Landon Thomas, Jr., and Nelson D. Schartz, “Wall St. Helped to Mask Debt Fueling Europe’s Crisis,” The New York Times, February 13, 2010.
Friday, January 7, 2011
The Revolving Door: A Public-Private Sector Conflict of Interest
The full essay is at Institutional Conflicts of Interest, available in print and as an ebook at Amazon.
Sunday, November 28, 2010
The Corporate Apology
1. Robert Bacal, Perfect Phrases for Customer Service, 2nd Ed. (New York: McGraw Hill, 2010), p. 19. Italics added.
Thursday, September 9, 2010
A Structural Conflict of Interest inside BP
The full essay is at Institutional Conflicts of Interest, available at Amazon.
Thursday, July 15, 2010
Best Buy: A Retail Company Using Apology to Sell Still More
As I was entering a “Bestbuy” store one summer day wearing shorts and a tee shirt and carrying my ubiquitous book bag (as you might expect), the security person, whom the manager later told me also works at a prison, walked after me as though stalking me, practially yelling “Sir! Sir!” Reaching me as I was talking to a salesperson who was treating me as though I were a customer, the lineback demanded to look in my book bag immediately. I stated matter of factly that I had had no opportunity to stash anything from the store in my bag while walking in the front door (after which he saw my every move). Nevertheless, I opened my pouch for him and he was satisifed. After I left the salesperson, I reported the incident to a manager, whose “company apologizes” was belied by his curtness and fake politieness. Can a company even apologize?
Wednesday, July 14, 2010
On the Value of Wealth in American and European Society: Who Should Receive the Trophy in Sports?
Just after winning the World Cup of 2010, FIFA officials handed the trophy to the team captain of the Spanish team rather than to the coach or a team owner (in this case, an official of Spain). In contrast, at the Kentucky Derby, the honors went to the horse’s owner, rather than to the jockey. The distinctively American value on wealth could not be more evident, and the contrast with the World Cup confirms it.
The full essay is in Cases of Unethical Business, which is available at Amazon.