The following message is a courtesy copy of an article that has been posted to bit.listserv.ibm-main as well.
joa...@swbell.net (John McKown) writes: > Single word: greed. On the part of management and the investors. To the > nether world with the future, give me an immediate payoff. That explains > most of the current US economic meltdown as well. IMO, of course. recent article ... Corporate Fraud and Misconduct Risks Driven by Pressure to do 'Whatever It Takes'; Fewer episodes reported by companies with ethics and compliance programs http://www.financetech.com/news/showArticle.jhtml?articleID=212501185 from above: Of more than 5,000 U.S. workers polled this summer, 74 percent said they had personally observed misconduct within their organizations during the prior 12 months, unchanged from the level reported by KPMG survey respondents in 2005. Roughly half (46 percent) of respondents reported that what they observed "could cause a significant loss of public trust if discovered," a figure that rises to 60 percent among employees working in the banking and finance industry. ... snip ... misc. past posts mentioning the above article: http://www.garlic.com/~lynn/2008s.html#27 Garbage in, garbage out trampled by Moore's law http://www.garlic.com/~lynn/2008s.html#29 Let IT run the company! http://www.garlic.com/~lynn/2008s.html#30 How reliable are the credit rating companies? Who is over seeing them? http://www.garlic.com/~lynn/2008s.html#35 Is American capitalism and greed to blame for our financial troubles in the US? http://www.garlic.com/~lynn/2008s.html#36 What is the top security threat prediction of 2009? http://www.garlic.com/~lynn/2008s.html#47 Executive pay: time for a trim? then this article from last spring that estimated 1000 executives are responsible for 80% of the current crisis and that it would go a long way towards fixing the situation if the gov. could figure out how they loose their jobs. http://knowledge.wharton.upenn.edu/article.cfm?articleid=1933 misc. past posts mentioning the above article: http://www.garlic.com/~lynn/2008g.html#32 independent appraisers http://www.garlic.com/~lynn/2008g.html#36 Lehman sees banks, others writing down $400 bln http://www.garlic.com/~lynn/2008g.html#44 Fixing finance http://www.garlic.com/~lynn/2008g.html#52 IBM CEO's remuneration last year ? http://www.garlic.com/~lynn/2008g.html#66 independent appraisers http://www.garlic.com/~lynn/2008h.html#89 Credit Crisis Timeline http://www.garlic.com/~lynn/2008i.html#4 A Merit based system of reward -Does anybody (or any executive) really want to be judged on merit? http://www.garlic.com/~lynn/2008i.html#67 Do you have other examples of how people evade taking resp. for risk http://www.garlic.com/~lynn/2009.html#73 CROOKS and NANNIES: what would Boyd do? http://www.garlic.com/~lynn/2009.html#77 CROOKS and NANNIES: what would Boyd do? http://www.garlic.com/~lynn/2009.html#79 The Credit Crunch: Why it happened? http://www.garlic.com/~lynn/2009.html#85 Banks' Demise: Why have the Governments hired the foxes to mend the chicken runs? http://www.garlic.com/~lynn/2009b.html#1 Are Both The U.S. & UK on the brink of debt disaster? -- 40+yrs virtualization experience (since Jan68), online at home since Mar70 ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to lists...@bama.ua.edu with the message: GET IBM-MAIN INFO Search the archives at http://bama.ua.edu/archives/ibm-main.html
