Category: Ethics
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Tuesday Oct 4, 2016 Do you know Billy Sol Estes? this fraudster was located in Pecos, TX ans was arrested in 1963. Fraud did not start with Enron.
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Tuesday Sept 27, 2016 Bob Greene reflects on how he met Arnold Palmer. This is reflective of how Palmer realized this was a very young reporter just seeking a story. Decades later, he casual welcome paid off in a fine eulogy on a great guy.
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Monday Oct 3 2016 A former IBM CEO challeges the governance tactics of most corporations. He makes the famous observation, you are not what you say you are what you do. A company that trots out usual laundry list of corporate values and then follows with a CFO memo calling for better numbers and no…
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Friday Sept 30, 2016 A run on a bank occurs when depositors fear they cannot recover their money. In a frenzy many demand their deposits in full. Of course in a fractional banking system, most deposits are loaned out with perhaps less than 10% actually held in cash. So a demand by 10% of the…
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Thursday Sept 29, 2016 As I said in an earlier post, losing something you never had is really not much of a penalty. Another professor in this article makes the same observation. It is not like Stumpf had to write a check for $41 M or Tolstead for $19 M. A Restricted Stock Unit is…
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Thursday Sept 29 2016 In addition to familiarizing your self with Sherlock Holmes powers of observation and deduction, I suggest you buy and read and re read How to Win Friends and influence People. Or I can summarize in Dale's own words the theme of the book. Quote You will make more friends in two…
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Thursday Sept 29 2016 Weatherford, an energy service firm, has been fined $140 M for over stating earnings. Officials in charge at the time are now gone. In 2013 Weatherford paid some $250M for charges that it had violated the Foreign Corrupt Practices Act. We study ethics in all our accounting classes. Here is a…
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Thursday Sept 29 2016 WFC is not alone as other big banks have scored plenty of complaints for similar stunts. The Board has clawed back unvested options for both Stumpf and Tolstead. But losingsomething you never had is not exactly a penalty. Stumpf returns to testify again today. Lawmakers have sent a letter to him…
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Wed Sept 28, 2016 An alert student sent me this article on a famous inside fraud created by Rita Crundwell. Rita was jailed for defrauding tiny Dixon, IL of $50+ million over many years. Before After
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Tuesday Sept 27, 2016 Looks lke Malpaso is headed for antother big payday. Brett Stephens reflects on why the movie is doing so well. Yep, Clint Eastwood has another winner. The estimated budget is $60 M and the gross is already closing in on $100 M in just the short release time. We have been…
