VitalAccurateThinking

HP Bristol-Myers CEO's Out

HP chairperson is out. So is Bristol-Myers CEO. The President of TSU is gone as well. Do we have an ethics crisis in corporate and academic America? I think so.

My theory is people in those high positions get on an ego trip. They start to believe that the rules do not apply to them. They cannot remember where they came from and what it means to do the right thing, not sometimes, but all the time. That is their downfall and the problem with power at high levels in corporations.

I work for a company that had a long history of price fixing in all sorts of chemical markets. All of the known collusion happened long before my involvement, but now, I have to take all sorts of ethics courses while the perpetrators are featured for finally fessing up. My company is famous for being the first to roll on its co-conspirators, avoiding the harshest penalties. And you know what, some of the same people in the thick of the pricing fixing are still in high levels in the company. And everyone knows it. Sad. Sad. Sad

posted by Jim VAT @ 5:21 AM