Ethics Article Review Paper

Ethics Article Review Paper Tara Smith FIN324 customary Relations June 5, 2007 Ethics term review When referring to corporate America, moral philosophy is something that everyone wants scarce few expect. Within the lead decade or so, corporations such as Enron, WorldCom, and Tyco have been the of import focus in the media due to unethical practices regarding its accounting practices. oneness would think that these examples puzzle other corporations on the straight and narrow, but in injure of these high profile cases unethical practices static occur, unfortunately MSN coin Website incubateed another case in 2006. In October 2006, lead and CEO William McGuire stepped down from his position after an outside physical composition found that his option grants were likely backdates. (Washington Post) In a report by the firm that the friendship hire to investigate, stated that there were boosts in the value of the CEOs inves tment presumption options. The options were issued on one day but they were habituated a hurt as if they were issued a prior day. The dissolve of back geological dating of stock options is to set the date of the stock when the stocks ar at their lowest. Although illegal, the administrators that receive the stock as commence of their compensation are provided with higher gains.

As a issue of this illegal activity, millions of pointless dollars goes in to the pockets of the executives. The report found that the company had failed to ensure such practices were avoided. (bizjournals.com, 2006) In light of this situati on, it was discovered that William McGuire w! as not the only executive involved, in addition to McGuire resigning, William Spears, a part of the boards also resigned and the full general counsel and Secretary David Lubben announced his retirement. In reviewing this article it is puddle that this violation of ethical practices did solely wait on Mr. McGuire. For a general counsel and a piece of the compensation perpetration to be involved this violation ends at the top...If you want to communicate a full essay, order it on our website: BestEssayCheap.com

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