State University of New York Institute of Technology
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Business Ethics Featured in World Press News...

Ponzi schemer Bernie Madoff claims that several business schools, including Northwestern and Harvard, approached him about the possibility of teaching ethics courses. This information comes from the New York Daily News. Spokesman from both Harvard and Northwestern business schools vehemently deny this claim, however. It is reported likely that Madoff will continue his current job as commissary at federal prison, where he is currently serving his sentence.

 

Questions are also arisen in this article about the ethical practices of David Sokol, an investment advisor to Warren Buffet. This is because he traded shares in a firm while at the same time pitching the company as a take-over target to his boss. When this question was addressed in a poll including 23 successful investment bankers, and 21 say that Sokol was ethically in the wrong. One in 5 also said that they believe Sokol's actions could lead to insider trading charges. Sokol has recently resigned from Berkshire Hathaway, claiming that these accusations had nothing to do with his resignation. Furthermore, legal experts have said that Sokol's actions may fall into a broad gray area uncovered by insider-trading law.

 

Article found in Ethics Newsline: Aprill 11


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