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Risk Management
« Previous EntriesIs it ethical for other industries to lobby for Wall Street bailout funds?
Thursday, October 30th, 2008Now that the $700 billion that Congress and the White House approved to bail out Wall Street is officially available for distribution, it’s probably not surprising that other industries are coming forward, hat in outstretched hand, to ask for a piece of the pie. Life insurance companies, auto industry representatives, and almost anybody else who can [...]
Procrastination’s a problem - but is it unethical?
Wednesday, August 20th, 2008A month or two ago, NPR ran a very cute piece on a research study on procrastination conducted by Dr. Piers Steel of the University of Calgary’s Haskayne School of Business. I’ve been meaning to write about it, but didn’t get to it until now. (Actually, I felt a little guilty about putting it off [...]
Why “handshake deals” aren’t always great business ethics
Wednesday, August 6th, 2008One of the services I provide to clients is writing contracts and engagement letters for them to use when they start new business relationships. Depending on what my client expects to be doing, the documents can get pretty complicated, spelling out the scope of work, the obligations of the other person, how and when my client [...]
So, what’s the big deal with apologies?
Monday, August 4th, 2008Recently, a friend asked why so many of my blog posts focus on various aspects of apologies. “It seems so narrow,” she said. “Are apologies really all that important?”
You bet they are.
As a practicing attorney, I’ve had over twenty years’ experience dealing with other people’s problems. (Let’s face it – regardless of how much they like [...]
MSN’s Brush explains why the housing bill may not prevent future financial disasters
Monday, July 28th, 2008Over the weekend, Congress passed a massive bill designed to calm investors and pacify voters in the wake of the subprime mortgage mess. The bill provides for homeowner tax relief and a $300 billion program to prevent foreclosures. The bill also establishes a new paradigm for embattled financial giants Fannie Mae and Freddie Mac, increasing [...]
Doctors Learn that Apologies Can Prevent Lawsuits
Tuesday, June 3rd, 2008The New York Times reported recently about an encouraging new trend in the medical profession. It seems that doctors are being encouraged to take a new approach when they make a mistake. Instead of denying, stonewalling, and waiting for the malpractice lawsuit papers to land on their desks, doctors are starting to admit [...]
Société Générale’s CEO is resigning … but should he?
Sunday, May 4th, 2008Back in February I commented on the governance implications of the multi-billion Euro trading disaster at Société Générale, one of the largest banks in France. The bank’s CEO, Daniel Bouton, is taking one for the team, and has agreed to step down from his position later this month. Bloggers are using phrases like [...]
Can American Airlines apologize effectively enough?
Thursday, April 10th, 2008The Wall Street Journal reports that American Airlines has cancelled more than 2,400 flights since Tuesday in a response to warnings from the Federal Aviation Administration that almost half of the airline’s planes could be in violation of a regulation to prevent on-board fires. The cancellations occurred after an FAA audit revealed that American Airlines’ MD-80s, [...]
Are tougher mortgage regulations really the ticket?
Thursday, March 27th, 2008As the press continues to dig into the subprime mortgage crisis, I’ve been appalled to learn that lenders have been allowing would-be home owners to borrow hundreds of thousands of dollars based on their unsubstantiated representations about their salaries and, in many cases, without requiring even modest down payments. We now discover that, in all too many instances, people [...]
Tastes Great - Less Filling?
Wednesday, February 6th, 2008Recent discussions about the actions of a rogue trader at French bank Société Générale have initiated a predictable clash of opinions between two factions in the business ethics community. Some ethics gurus, like French Finance Minister Christine Lagarde, argue that stronger internal controls are needed to prevent bad employees from bringing businesses to financial harm. [...]
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