Opinion: The Case Against the Case Against CSR
Technology Makes Diesel Fuel Kinder to the Environment
Banks’ Self-Dealing Super-Charged Financial Crisis
SEC Approves Proxy Access for Shareholders
Target, Best Buy Investors Seek Review of Political Contributions
Courts Fault Feds, SEC for Going Easy on Banks
Companies Pressed on Policies to Clawback Executive Pay
Books»
Using Facebook and Twitter to Change the World (3)
Basketball superstar LeBron James last week opened up a Twitter account and had 235,000 followers within a single day. In a new book, media technologist and consultant Deanna Zandt argues that while huge numbers like that may constitute success for mass media icons and idols, they mask the real potential of social media networks like Twitter and Facebook to accomplish social good.
Business Ethics»
Opinion: The Case Against the Case Against CSR (0)
Tim Mohin, Director of Corporate Responsibility for technology company AMD, responds strongly to a Wall Street Journal Op Ed article which argued “The Case Against Corporate Social Responsibility.”
Compliance & Governance»
SEC Approves Proxy Access for Shareholders (0)
Given the green light by Congress, the Securities and Exchange Commission approved and released a long-awaited rule on procedures under which shareholders can get their nominees for directors included in corporate proxy materials. Under the new rule, shareholders seeking access to proxies would have to own at least 3% of the total voting power entitled to vote at an annual meeting.
Corporate Political Spending»
Political Contributions by Target and Best Buy Stir Criticism (6)
Retailers Target and Best Buy find themselves the focus of unwanted attention following their contributions to an organization that backs a Minnesota gubernatorial candidate who opposes gay marriage. The case is one of the first major controversies since the U.S. Supreme Court ruled that corporations and unions could spend freely on political campaigns.
CSR»
Adding Value and Values to the MBA (0)
When students return to campus in coming weeks, so will debate about the purpose of management education and the role of ethics. Columnist Gael O’Brien wonders whether current business leaders will support training new leaders in skills and competencies that support new models of business – or will it be simply business as usual?
EarthTalk - Consumer Info»
Technology Makes Diesel Fuel Kinder to the Environment (0)
In the past, diesel fuel was always considered dirtier than gasoline. But newer standards regulating sulfur content and improved technology in diesel engines have made diesel somewhat kinder to the environment.
Economy»
Citigroup Fined $1 for Every $500 in Subprime Exposure It Hid (0)
Citigroup has agreed to pay the SEC $75 million to settle charges that the bank hid exposure to more than $40 billion in subprime CDOs. (That works out to roughly a $1 fine for every $500 worth of hidden exposure.)
Education»
GAO Report Finds For-Profit Colleges Encouraged Fraud (0)
A report released by the Government Accountability Office further highlights some of the questionable recruiting tactics of several for-profit colleges across the country.
Environment»
What’s So Bad About Cotton? (0)
There’s a lot “bad” about conventionally grown cotton—cotton grown with the aid of synthetic chemicals, that is. The Organic Trade Association considers cotton “the world’s dirtiest crop” due to its heavy use of insecticides. The nonprofit Environmental Justice Foundation reports that cotton uses 2.5 percent of the world’s cultivated land yet uses 16 percent of the world’s insecticides—more than any other single major crop.
Ethics Case Scenarios»
World Economic Forum: Will Many Take The Global Business Oath? (2)
It will be interesting to see how many of the 2,500 attending the World Economic Forum in Davos, Switzerland, will wind up taking The Global Business Oath. Yes, there is one – and you, too, can pledge.
Executive Compensation»
Financial Reform Bill Leaves Proxy Access Rules with SEC (2)
After days of intense political drama, House and Senate negotiators on the financial reform bill agreed to toss a key shareholder governance issue — proxy access — back to the Securities and Exchange Commission.
Featured Story»
SEC Seeks Comments on New Financial Rules (0)
As the Securities and Exchange Commission prepares to deal with a deluge of new rule-making tasks tied to the Dodd-Frank financial reform law, agency Chairman Mary Schapiro announced a new system for soliciting public input on rules. “We are inviting public comment even before the various rules are proposed and before the official comment periods have begun,” she said.
International»
GE to Pay $23.4 Million to Settle SEC Oil-for-Food Charges (0)
The Securities and Exchange Commission charged that from 2000 to 2003 two GE subsidiaries — along with two other subsidiaries of public companies that have since been acquired by GE — participated in a $3.6 million kickback scheme with Iraqi government agencies to win contracts to supply medical equipment and water purification equipment.
Leadership»
Opinion: BP puts costs ahead of environment. Are we surprised? (0)
BP’s failure to stop the worst oil spill in U.S. history is indicative of a much larger problem with companies that have embraced one of the central ideas in management today: stakeholder theory. The idea that companies can meet the needs of “stakeholders” leaves them open to moral abuse without normative principles at its core.
Media»
Ethical Lapse Costs Susan G. Komen Goodwill, Credibility (0)
The basic benefit of cause-marketing — good publicity for both partners — certainly hasn’t materialized. The cancer-causing contents of KFC chicken are being widely publicized and the brand of SGK has been tarnished.
Michael Connor»
Dell Inc. to Pay $100 Million to Settle Charges in Intel Case (0)
The SEC charged that Dell and its founder, Michael Dell, and several former executives did not disclose to investors large “exclusivity payments” the company received from Intel Corporation to not use central processing units manufactured by Intel’s main rival, Advanced Micro Devices Inc. At their peak in the first quarter of 2007, those payments constituted 76 percent of Dell’s operating income.
NGOs»
Export Credit Agencies Urged to Strengthen Anti-Bribery Rules (0)
A Transparency International report found that while most export credit agencies have formal policies that prohibit support for bribe-tainted transactions, they do not require applicants to have management controls to deal with bribery and none have issued guidance to applicants describing elements of an appropriate anti-bribery program.
Opinion»
Opinion: The Corporate Responsibility Commitment (0)
The rhetoric surrounding corporate responsibility can be off-putting to companies with many firms assuming they can never live up to such grand claims. But taken in achievable steps, every company can embark upon the corporate responsibility journey. Patrick Jelly, managing director of Pitney Bowes UK, assesses the reality of corporate responsibility adoption and outlines some of the do’s and don’ts of such a strategy.
Philanthropy»
Community Involvement Programs: Continuing Despite the Economy (0)
Despite the economic crisis, businesses have maintained community involvement efforts as part of their corporate citizenship programs, according to the results of a new survey of more than 300 North American companies.
Podcast»
PODCAST: The Failure of Corporate Boards and the Price We All Pay (0)
If you’re one of the many trying to determine where blame might lie for the financial and economic crises of the last two years, John Gillespie would suggest you look in the corporate boardroom. Gillespie is co-author of a new book – Money for Nothing: How the Failure of Corporate Boards Is Ruining American Business and Costing Us Trillions – which is rich with unfortunate detail about the performance of corporate boards. Download a Business Ethics podcast featuring an interview with John Gillespie.
Poverty»
Businesses Confront the Water Quality Challenge (0)
For many in the so-called developed world, the ability to turn on the tap for clean, fresh water to drink, cook and wash with is taken for granted. The stark truth, however, is that over a billion people in the world have little choice but to use potentially harmful sources of water. What are companies doing to respond? And is it enough?
Recent Stories»
Oracle Accused of Overcharging U.S. Government (0)
The U.S. Justice Department said it filed a complaint under the False Claims Act against Oracle Corporation alleging that company defrauded the federal government on a General Services Administration (GSA) software contract that was in effect from 1998 to 2006 and “involved hundreds of millions of dollars in sales.”
Regulation & Legislation»
Securities and Exchange Commission Fact Sheet on U.S. Proxy System Inquiry (0)
This is a complete text of the July 14, 2010 fact sheet issued by the U.S. Securities and Exchange Commission seeking comment on the U.S. proxy system.
Socially Responsible Investing»
NY State Fund Seeks to Lead Class Action Against BP (0)
New York State Comptroller Thomas P. DiNapoli, trustee of the $132.6 billion Common Retirement Fund for state employees, said the Fund will seek lead plaintiff status in the class action lawsuit against BP Plc for damages arising from the Deepwater Horizon explosion and oil spill
Sustainability»
Caution: Mercury Levels in Tuna and Other Fish (1)
You should be concerned about contaminants in certain fish, including some kinds of tuna. The non-profit Environmental Defense Fund (EDF) recommends minimizing consumption of albacore (white) tuna, a large fish that accumulates moderate amounts of mercury in its fatty tissue.
Video»
VIDEO:Analyst Who Warned on Madoff Talks to Jon Stewart (2)
Harry Markopolos, the analyst who tried in vain to persuade the Securities and Exchange Commission that Bernie Madoff’s investment company was a Ponzi scheme, is interviewed by Comedy Central’s Jon Stewart.
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