¶ … Capital Management Blows Whistle
A whistleblower in the classic sense of the word possesses a number of key characteristics. Some of these pertain to the fact that whistleblowers tend to believe that there are acts of impropriety at their workplace. In this respect most whistleblowers have a keen sense of ethics as well as a sense of social justice that helps to actuate them. There is a duality to the sort of ethical conviction that a whistleblower has. Firstly, he or she must believe that his or her organization is making some sort of ethical violation in which they are taking advantage of other shareholders. Such shareholders include those in upper level management, those in conventional 'worker bee' roles, as well as public shareholders on the market and the extended friends and families of workers. Secondly, the whistleblower must consider the ethics of taking such information to an outside entity. In doing so, he or she is traversing some of the ethical obligations of his or her company, which generally forbids disclosure of business practices and information to outside sources. Whistleblowers also tend to be independent and loyal, and strong believers in the way things are done as opposed to simply concerned with their results.
The instance of whistle blowing in one publicly traded company that will be discussed in this document involves Paradigm Capital Management. Last summer, a whistleblower...
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The enactment of the Sarbanes-Oxley Act has brought exponentially higher costs of operating to every organization that must comply to its requirements. As many organizations are already quite lean in terms of headcount to minimize costs, many outsource compliance and the resulting business process management (BPO) activities to outsourcing organizations. Ironically legislation meant to bring American companies into higher levels of compliance continues to be one of the most
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Later in the year, this same task force, including Cheney, recommended Enron as a company that was upstanding and endorses its many proposals. This further complicated the Enron image giving it further clout to conduct business in an unethical manner. By the end of this year, many of Enron's top executives, including Skilling, begin selling off their shares of company stock. This occurs before it is revealed to shareholders
Today Halliburton must address transparency and compliance to the U.S. Government, the Securities and Exchange Commission (SEC) in accordance with the Sarbanes-Oxley Act, and also the shareholders. This has added cost and time constraints to their strategic planning process that could potentially cost them incremental business if they were able to respond to the market faster without having to contend with compliance initiatives first. Ethics Another aspect of the strategic planning
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