Posts tagged "business ethics"

Can the Wells Fargo Brand Recover from a Tarnished Ethical Lapse?

The Truth always comes out.  That is an easy statement to make and one that I have lived over and over – especially when it comes to dumb stupid choices that I’ve made that have come back to bite me.  Wells Fargo, as a company, can certainly identify with it’s share of “in the media” challenges since the truth of millions of phony accounts, fake bank card PIN’s and fake email accounts came to the surface.  It seemed that Wells Fargo’s culture of ethics was lacking.

Wells Fargo fired some 5,300 employees and has paid well over $185 million in penalties and fines – and of course, apologized.

With all the negative publicity which has created costs and consequences well beyond what most folks could envision for Wells Fargo – where do they go now moving forward?

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Posted by Chuck Gallagher in Banking Ethics and tagged , ,

Ibis Tek LLC: An Unethical Family Dynamic = a $6 million Fraud

There are all kinds of reasons why unethical people commit fraud, but when we boil it all down, they see an opportunity and if there are no checks and balances in place, they will seize that opportunity – just ask the folks at Ibis Tek LLC.

The outrageous expenses for defense are legendary. It is one thing to charge for an item fairly but it is quite another when a contractor chooses to defraud.

In Pennsylvania, there is a small company outside of Butler named Ibis Tek LLC. The company makes, among other things, window assembly kits for the Humvee. It may not sound like much, and maybe that’s what the former executives of the company figured, but former owners (and brothers!) Thomas Buckner and John Buckner, along with the company’s former CFO Harry Kramer, put together a scheme to overcharge the government by $6 million.

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Posted by Chuck Gallagher in business ethics and tagged , , , , ,

ABB: When an Unethical Fox Guards the Ethics Henhouse

Ethics is a word that is often tossed about with reckless abandon. Executives often take on the role as “ethics officers,” when they, themselves have no idea of what the responsibility entails. It is window dressing. Then there are people who assume the role of ethics over-seers or ombudsmen whose credentials are never explored because, frankly no one else can be bothered to do ABB Ethicsthe training.  This became a real problem for ABB.

You may never have heard of a Swiss engineering group called ABB. They are a huge, multinational organization with operations in South Korea. The treasurer of the Korean branch is also one of two executives in charge of ethics training and for “legal and ethical integrity.”

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Posted by Chuck Gallagher in business ethics, Corporate Ethics and tagged , , , , , ,

Automotive Ethics: Volkswagen Going for Ethical Record

No, this is not the reposting of an old blog produced last about Volkswagen faking diesel emissions tests. This is a brand new ethical scandal that is just now developing. Apparently, Volkswagen is attempting to go for an ethical record.

volkswagen-audiIf you may not have known, Volkswagen owns the Audi brand. The company that brought the world the Beetle also brings us luxury cars that run from about $45,000 to the astronomical. Unfortunately, it appears as though money does not equate with good ethics.

Volkswagen has just disclosed (rather, admitted) that Audis have software that is able to lower the car’s carbon dioxide levels during an emissions test. I am not an engineer or software developer and so I can’t even begin to tell you how it works, but the clever folks at Audi were able to fake results so that they are lower than they actually are in everyday traffic situations.

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Posted by Chuck Gallagher in Automotive Ethics, business ethics and tagged , , ,

Fraud: Is Your Business at Risk?

Reverend Bobby thought it a bit strange when his wife, with her hand cupped over the phone, said that Sargent Willis was on the line and had some questions. Sargent Willis wasn’t a member of his congregation and the last time he could remember he had fraud-is-your-business-at-risknever had any cause for the police to want to ask him questions. He thought, “Did I run a red light and a traffic cam catch me,” he wondered.  His question led to a surprising outcome which raises the question about Fraud: Is Your Business at Risk?

The Shock Of A Collapsing Illusion

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Posted by Chuck Gallagher in Business and Personal Ethics, Choices and Consequences, Ethical Behavior, Fraud Pure and Simple and tagged , , ,

3 Components of Bad Behavior

Is it safe to say that all organizations are expected act in an ethical manner when it comes to the legal, moral, and professional conduct related to the fulfillment of their professional responsibilities? Who wouldn’t answer YES to this question?  Yet the truth 3-components-of-bad-behavioris there are 3 components of bad behavior that when put together create the foundation of bad behavior.  Once you recognize how those components work or come together, lives can be changed.

In my work as a professional ethics consultant and advocate, I have seen more examples of circumstances where good people, people that are well intentioned, make bad choices by taking one step on the slippery slope of unethical activity.

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Posted by Chuck Gallagher in Business and Personal Ethics and tagged , , , , ,

Accounting Ethics: Unethical Accounting Practices at Lime Energy

“Our range of energy solutions are based upon our expertise in understanding the unique needs of different types of businesses.” — Lime Energy Website

lime-energyApparently, understanding the unique needs of different kinds of businesses does not extend to accounting practices at Lime Energy. The SEC has fined the company $1 million and four of its executives are further charged with accounting fraud.

This is another example of unethical behavior supplanting ethics because the executives felt that they had the opportunity and the means to carry out a scheme to manipulate the stock price. The executives felt they were the brightest “guys” in the room and that no one at the SEC would be any the wiser.

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Posted by Chuck Gallagher in Accounting Ethics and tagged , ,

The Ethical World of Halloween Political Correctness

Who controls what is “correct,” and who doesn’t? The politics of political correctness has even reached its tentacles into the celebration of Halloween. It is an issue outside of what we normally discuss, but I believe it has ramifications into our everyday ethical life.  Halloween political correctness in an ethics blog – go figure!

halloween-political-correctnessIn the latest politically correct salvo, the University of Florida is actually offering psychological counseling for any students who are offended by Halloween costumes.  Seriously – this is Halloween political correctness taken to an absurd level.

In a blog written by the university last week it stated:

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Posted by Chuck Gallagher in Business and Personal Ethics, Political Correctness and tagged , , , , ,

Wells Fargo’s Ethics: What Can We Learn?

No company wants to be in the news for negative publicity, especially publicity that was generated from what most would describe as unethical activity by its employees.  Yet that is exactly what Wells Fargo has been facing for the past several weeks and it’s not getting better.  But this isn’t about Wells Fargo – those facts are well known now.  The question is what can we learn from this debacle?

what-can-we-learnActions Speak Louder than Words – What Can We Learn?

Wells Fargo’s vision and values states:

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Posted by Chuck Gallagher in Banks, Business and Personal Ethics and tagged , ,

Patricia Driscoll – Theft from a Military Charity?

Though the players in this ethical scandal are celebrities to an extent, this should not be an example of a celebrity “gone wild,” rather a person who was allowed to operate without consequences or expectations. Needless to say, this example of unethical behavior could not have occurred without many other people looking the other way.  In a piece published on September 20, 2016 patricia-driscoll-indicted-fraud(Associated Press) entitled: “Kurt Busch’s ex charged with stealing from military charity,” we get another glimpse into the life and times of Patricia Driscoll.

According to the article:

“Court documents don’t say how much prosecutors believe Patricia Driscoll took from the District of Columbia-based Armed Forces Foundation, whose mission is to support service members, veterans and their families.”

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Posted by Chuck Gallagher in Fraud Pure and Simple and tagged , , , ,