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Ethics

Ethisphere Blog - Good. Smart. Business. Profit.

The Ethisphere Blog offers an insightful and comedic look at the news and commentary from the world of ethics and compliance.

Post Frequency: 1.5/day

Last Entry: February 25, 2011 at 14:39:43

Ethisphere?s Unveiling of 2011 World?s Most Ethical Companies to Feature Keynote by U.S. Chamber of Commerce?s COO David Chavern

Posted on February 25, 2011
WME Recognizes Exceptional Ethical Leadership Actively Upheld within Various Industries Announcement to Coincide with Third Annual Global Ethics Summit March 15-16 in New York City NEW YORK–(February24, 2011)–The Ethisphere Institute, a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability, announced the official unveiling [...

Juniper Networks Earns Ethics Inside Certification From the Ethisphere Institute

Posted on February 11, 2011
Juniper Networks today announced that it has earned the Ethics Inside Certification from the Ethisphere Institute, a leading international think-tank dedicated to the research and promotion of best practices in corporate ethics and compliance. “Trust is the reason why customers want to do business with us, investors hold our shares and employees choose to work for [...

Ethisphere to Debut Annual World?s ?Least Ethical? and ?Kinda Ethical? Companies Lists

Posted on April 01, 2010
(NEW YORK) The research-based ranking ethics thinktank, The Ethisphere Institute, announced today that it plans to complement its highly-regarded annual World?s Most Ethical Companies? with a sister efforts in ?World?s Least Ethical Companies? and ?World?s Most Kinda Ethical?? ranking lists...

BRIBEline: 45 Percent of Mexican Bribe Demands Come from Police

Posted on March 31, 2010
According to a new report by BRIBEline, a bribe reporting hotline founded by TRACE International, 85 percent of all bribe requests within Mexico come from an individual associated with the government. ?Mexico is an extremely important player in the world economy...

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More Than One Million Baby Slings Recalled After Suffocation Risk

Posted on March 31, 2010
The U.S. Consumer Product Safety Commission (CPSC) announced in mid-March that over-the-shoulder baby slings can be deadly and warned parents to use them with caution. The warning came after more than a dozen babies died while using the slings, according to ABC News...

Ukrainian Hacker to Forfeit $580,000 after Trading on Stolen Information

Posted on March 31, 2010
After hacking into Thomson Financial?s computer network to obtain nonpublic financial information about pharmaceutical consultancy IMS Health, a Ukrainian man was ordered by a U.S. judge to pay $580,000 in penalties, according to Reuters News Agency. Just after obtaining the information?and right before an earnings release?Oleksandr Dorozhko purchased 630 put options on IMS? common [...

Brazil Joins 2020 Carbon Reduction Race

Posted on November 24, 2009
The year 2020 seems to be the magic number for carbon reduction targets. Many companies have used that as the cut off point in their public commitments of reducing emissions and implementing new environmental initiatives. Brazil is the latest entity to join this race as the country recently announced it will reduce 36 [...

European Union Accuses Standard & Poor?s of Violating Antitrust Rules

Posted on November 24, 2009
The European Union has begun an investigation into whether or not Standard & Poor?s, the international credit rating company, has violated antitrust laws by overcharging its customers for the use of Cusip numbers. Cusip numbers, nine digit numbers assigned to companies? securities in order to help track trades, are sold to companies by Standard [...

CEO Arrested for Alleged ?Hit? on Whistleblower

Posted on November 24, 2009
The chief executive of a Vietnamese real estate investment company, Hoang Hai Ltd., was arrested for allegedly hiring a man to carry out an attack on the executive?s former deputy. The executive, Ngo Quang Truong, hired Vu Van Luan, who then allegedly hired five other men to help carry out the attack...

Pinkerton Government Services Pays $1 Million for False Claims

Posted on October 22, 2009
Pinkerton Government Services (PGS), a company that specializes in security, fire and emergency services for government agencies and contractor companies, has agreed to pay just over $1 million in order to settle allegations that it overbilled the government on health insurance costs...

Former Stanford Clients Sue Willis Group for Alleged Fraud Participation

Posted on October 22, 2009
A group of Latin American former clients of Stanford Financial Group have filed a lawsuit against Willis Group Holdings, the giant insurance broker, claiming that it aided in Stanford?s alleged $7 billion fraud. The lawsuit is seeking class action status on behalf of over 1,000 plaintiffs and asking for $1...

SEC to Penalize CEOs Regardless of Role in Company Fraud

Posted on October 22, 2009
The SEC has for the first time invoked specific claw-back provisions of the Sarbanes-Oxley Act against a company CEO that was not directly involved in the company?s fraud scheme. Maynard L. Jenkins, the former chief executive of CSK Auto Corporation was ordered to reimburse the company and shareholders over $4 million that he earned [...

Newsweek Publishes First Annual ?Green Rankings?

Posted on October 22, 2009
Newsweek published its first annual Green Rankings in September, a list of the S&P 500 companies ranked and scored by the magazine for their environmental impact and reputation. The list, which reportedly took 18 months to compile, was created with the help of environmental research groups, including KLD Research & Analytics, Trucost and CorporateRegister...

More Competition Busting in EU, Recent Raids Focus on ?Special Glass Sector?

Posted on October 22, 2009
Last year the European Commission levied billions in fines against cartels in the glass industry, this year it raided companies in the special glass sector under suspicion of cartel activity. The EC didn?t reveal the names of the companies it raided, but said special glass sector refers to companies that produce glass ?used for [...

Trial Begins for Film Producers Accused of FCPA Violations

Posted on August 26, 2009
Regular readers of Ethisphere will remember the two organizers of an international film festival in Thailand who were accused earlier this year of bribing government officials in order to obtain the rights to run the festival. Gerald and Patricia Green, established film producers, were accused of giving the former governor of the Tourism Authority [...

McDonald?s Tests New Sustainability Initiatives

Posted on August 26, 2009
In line with its ever increasing pro-environment initiatives, McDonald?s has implemented a number of recent sustainability programs to help reduce waste, water and energy use both with its restaurants and from its suppliers. The first initiative has been discussed before, but is still as important as ever: encouraging its suppliers to operate in an [...

Eastman Kodak Pays $21.4 Million Settlement over Racial Discrimination

Posted on August 26, 2009
Ending a 2004 class-action lawsuit, Eastman Kodak Co. has agreed to pay a $21.4 million settlement over allegations that it paid and promoted black workers less than their white counterparts. The payment will be divided among 3,021 past and current employees...

Garment Manufacturer Pays $1.7 Million for Age, Nationality and Pregnancy Related Discrimination

Posted on August 26, 2009
L&T Group of Companies, the largest employer of manufacturers in Saipan, will pay $1.7 million as part of a series of discrimination suits brought by the Equal Employment Opportunity Commission (EEOC). The discrimination was both blatant and rampant...

Garment Manufacturer Pays $1.7 Million for Rampant Discrimination

Posted on August 06, 2009
L&T Group of Companies, the largest employer of manufacturers in Saipan, will pay $1.7 million as part of a series of discrimination suits brought by the Equal Employment Opportunity Commission (EEOC). The discrimination was both blatant and rampant...

Bus Company Pays $650,000 for Idling Busses

Posted on August 06, 2009
Paul Revere Transportation, LLC, a Boston-based bus company agreed to pay $650,000 in fines after the company was found liable of leaving its vehicles idle for long periods of time. The U.S. Environmental Protection Agency brought charges against the company in June for violating the federal Clean Air Act and local Massachusetts laws against [...

Indonesia?s Anti-Corruption Chief Accused of Orchestrating Murder

Posted on July 27, 2009
A ninth suspect has been charged over the murder of a Director of Indonesian pharmaceutical company Putra Rajawali Banjaran, turning a brighter spotlight on what is already a very high-profile case in Indonesia. The ninth suspect was no less than Indonesia?s head of anti-corruption, Antasari Azhar...

Sanofi-aventis Pays $95.5 Million to Settle False Claims

Posted on July 27, 2009
In late May, pharmaceutical company Sanofi-aventis agreed to pay $95.5 million in order to settle a charge that one of the company?s former subsidiaries intentionally violated the False Claims Act by over reporting the costs of some of its drugs. In order to sell three of its nasal sprays?Azmacort, Nasacort and Nasacort AQ?to Medicaid, the company [...

Mattel?s 2007 Toy Recall Lead to $2.3 Million Fine

Posted on July 27, 2009
Regular readers of Ethisphere ? or news in general, for that matter ? will likely recall the 2007 hubbub over a recall of toys that contained dangerous levels of lead. At the center of the controversy were Mattel and its Fisher-Price subsidiary. In June of this year, the company agreed to pay a [...

Former Valspar Chemist Charged with Stealing Trade Secrets

Posted on July 27, 2009
In March, the FBI?s Chicago field office arrested a 52-year-old former employee of Valspar Corp, and charged him with theft of company secrets. The former employee, David Yen Lee of Arlington Heights, Ill., faces a maximum penalty of 10 years in prison and a $250,000 fine...

Former Employee Sues AIG over Retaliation for Reporting Alleged FCPA Violation

Posted on July 27, 2009
While American International Group has its hands full untangling the knots created by its Financial Products Division, another allegation has been raised against the embattled insurance giant. A former employee of AIG recently sued the company, alleging that she was retaliated against after blowing the whistle on payments made to the South Korean government...

McDonald?s Encourages Suppliers to Cut Use of Pesticides

Posted on July 27, 2009
McDonald?s has agreed to take a number of steps to help reduce the use of pesticides in potatoes that it purchases from suppliers. The company agreed to the new practices after a shareholder resolution was introduced by the Bard College Endowment, Newground Social Investment and the AFL-CIO Reserve Fund...

Bank Exec Says He Was Fired for Questioning Boss?s Salary

Posted on July 27, 2009
The former Chief Credit Officer of Citizens Republic Bancorp has filed suit against the company, alleging that he was fired in retaliation for questioning the former CEO?s compensation package. The former employee, John Schwab, alleges in his complaint that he was informed by one of the company?s Directors that CEO William Hartman was requesting a bonus [...

Obama Signs Expansive New Fraud-Busting Bill

Posted on May 21, 2009
President Obama today signed into law the Fraud Enforcement and Recovery Act of 2009 (FERA), a bill that extensively ramps up anti-fraud measures, including authorizing new funding to fight fraud, adding protections to federal whistle-blowers and expanding the power of the False Claims Act (FCA)...

Privately-Held Company Found Liable for SOX Violation

Posted on May 14, 2009
Sarbanes-Oxley?s ever expanding sphere of influence grew further in April when the Department of Labor ruled that private companies that perform work for public companies will now held accountable under SOX. The ruling came after a complaint was filed with OSHA by an in-house attorney who worked for a publicly traded company (the attorney?s name and [...

Former Valspar Chemist Charged with Stealing Trade Secrets

Posted on May 14, 2009
In March, the FBI?s Chicago field office arrested a 52-year-old former employee of Valspar Corp, and charged him with theft of company secrets. The former employee, David Yen Lee of Arlington Heights, Ill., faces a maximum penalty of 10 years in prison and a $250,000 fine...

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