Submitted by Sheldon Rampton on
Enron CEO Ken Lay and Global Crossing CEO Gary Winnick are both claiming that they knew nothing about the billion-dollar shortfalls, deceptive accounting and other problems at their companies. Experts say ignorance is a "potentially effective legal strategy," even though "you should expect chairmen to be aware of major factors affecting the business." After all, isn't that why they pay them the big bucks?
Submitted by Sheldon Rampton on
A recent study by the Hill & Knowlton PR firm shows that a good corporate reputation can boost sales and profitability.
Submitted by Sheldon Rampton on
"Pick up The Wall Street Journal today, and the business pages are full of stories about the men and women who built the stock market bubble," writes business journalist Philip Longman. "But there's another sector of the economy, deeply implicated in the collapse, whose conflicts of interest, ethical lapses and naive enthusiasms have so far received little press attention: business journalism itself." Longman examines the conflicts of interest and delusions that led journalists to hype the stock market bubble.
Submitted by Sheldon Rampton on
Marjorie Kelly, editor of Business Ethics magazine, reflects on the "perfect storm in ethics" that has unfolded despite a burgeoning corporate social responsibility (CSR) movement. CSR has failed, she says, because "fluff is not enough." It's time, Kelly says, to begin "talking about system design, understanding why corporations behave so single-mindedly. And that means focusing on power.
Submitted by Sheldon Rampton on
In England, businesses are worried that increasing demands for corporate social responsibility could become "compulsory, as in France. From 2003, French companies will have to demonstrate their commitment to CSR by giving detailed accounts of their social and environmental reporting."
Submitted by Sheldon Rampton on
A PR firm's survey shows that fewer companies are devoting time and resources to corporate social responsibility. Jericho Communications polled 264 CEOs of Fortune 1,000 companies and found that 52 percent of the respondents believe corporations acting responsibly can weaken the influence of terrorist groups, while 36 percent are more conscious of corporate social responsibility since the Sept. 11 attacks.
Submitted by Sheldon Rampton on
If you're wondering how corporate America was able to bamboozle so many people into throwing their life savings away on worthless investments, part of the answer lies in the Private Securities Litigation Reform Act of 1995 (PSLRA), which was lobbied into law by the National Investor Relations Institute.
Submitted by Sheldon Rampton on
Halliburton Corp., Vice President Dick Cheney's troubled former company, has hired spin doctor Michael Sitrick, whose firm was most recently hired by the Archdiocese of Los Angeles to manage its pedophile-priests scandal. "Halliburton, being sued by shareholders for alleged fraud, is under investigation by the Securities and Exchange Commission and might face a financial meltdown if it can't negotiate a global settlement over asbestos litigation," notes the Washington Post.
Submitted by Sheldon Rampton on
Life is tough these days for corporate executives, sighs US News & World Report. "After being lionized by investors and the media and showered with money and perks for the past decade, corporate officers and directors are now feeling the heat," writes Matthew Benjamin. "To many executives, the job may not be worth the hassle," and many are worried about the legal liabilities that now come with the job.
Submitted by Sheldon Rampton on
Oil company executives meeting at the World Summit on Sustainable Development (WSSD) in South Africa say they "want to put a kinder face on their industry practices. But their critics are skeptical and none is smiling yet," reports Associated Press writer Bill Cormier.
Center for Media and Democracy (CMD)
520 University Ave, Ste 305 • Madison, WI 53703 • (608) 260-9713
CMD is a 501(c)(3) tax-exempt non-profit.
© 1993-2024