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After becoming a public company in August 2005, it was revealed that Phillip R. Bennett, the company's CEO and chairman, had concealed $430m of bad debts. Its underwriters were Credit Suisse First Boston, Goldman Sachs, and Bank of America Corp. The company entered Chapter 11 and Bennett was sentenced to 16 years in prison. Bear Stearns: United ...
Business ethics operates on the premise, for example, that the ethical operation of a private business is possible—those who dispute that premise, such as libertarian socialists (who contend that "business ethics" is an oxymoron) do so by definition outside of the domain of business ethics proper.
An Enron manual of ethics from July 2000, about a year before the company collapsed. Enron's complex financial statements were confusing to shareholders and analysts. [1]: 6 [10] When speculative business ventures proved disastrous, it used unethical practices to use accounting limitations to misrepresent earnings and modify the balance sheet to indicate favorable performance.
Starbucks was sued for marketing its commitment to “100% ethical” sourcing while using some suppliers with “documented, severe human rights and labor abuses.”
The companies had agreed to recognize clients as belonging to suppliers without competition over regular meetings and phone conversations. Company market shares were monitored to ensure the agreement was not breached - this led to over-charging on construction quotes which were used by federal, state and local government projects.
Rampton went on to note that Silversmith had been, up to a few weeks before the story came to light, employed by the PR firm Edelman, which had been contracted by company parent Burger King Brands to provide PR services; Edelman has employed tactics on the behalf of its other clients, Wal-Mart and Microsoft, which Rampton and his organization ...
Then there's the list of "companies that had license agreements with President Trump [that] have failed": "Trump Shuttle, Inc., launched by President Trump in 1989, defaulted on its loans in 1990 ...
Both Lehman Construction and Clarkson Construction had paid fines for safety violations on construction projects in the past five years.