Resisting Corporate Corruption (eBook)

Cases in Practical Ethics From Enron Through The Financial Crisis

Stephen V. Arbogast (Autor)

eBook Download: PDF

2013 | 2. Auflage
552 Seiten
John Wiley & Sons (Verlag)
978-1-118-65893-2 (ISBN)

Infos

Taking a unique approach to business ethics unlike the typical focus on conceptual/legal frameworks, this book features 25 case studies that cover a full range of business practices, controls, and ethics issues. The new edition is fully updated with new case studies from the recent financial crisis, comparing it with Enron's crossing of various ethical lines. Interpretive essays explore financial control systems and lessons learned from specific case studies and circumstances. Readers will find a practical toolkit they can use to identify ethics issues and tackle problems effectively within corporations.

Autor

Stephen V. Arbogast served from 1999-2004 as thetreasurer of Exxon Mobil Chemical Company and has over thirty yearsof experience in finance working with Exxon Corporation and ExxonMobil Chemical. While treasurer of chemicals, he held positionsthat included director of Qenos (Australia's sole manufacturer ofpolyethylene, a joint venture with Orica PLC), director of Dexco (ajoint venture with Dow Chemical), and director of Al JubaiPetrochemical Company in Saudi Arabia. Currently serving as anExecutive Professor of Finance at the C.T. Bauer College ofBusiness, Professor Arbogast's teaching career has focused oninternational finance, project financing, and business ethics. Inaddition to authoring over fifty case studies based on hisexperiences at Exxon Mobil, he has previously taught at bothFordham University's Graduate School of Business in New York andRice University's Jesse Jones Graduate School of Management inHouston.

Inhalt

Acknowledgements vii

Preface ix

Note to Faculty:How to Use this Book xvii

Case Study 1 Enron Oil Trading (A): Untimely Problemsfrom Valhalla (A) 5

Essay 1 How to do an Ethics Case Study: Key Stepsin Tactical Planning 21

Case Study 2 Enron Oil Trading (B): The Future ofEnron InternalAudit 37

Case Study 3 Enron Oil Trading (C): An Opening forEnronAudit? 49

Case Study 4 Enter Mark-to-Market (A): ExitAccountingIntegrity? 53

Case Study 5 Enter Mark-to-Market (B): Accounting &theAggressive Client 71

Essay 2 NecessaryAmmunition-- The EconomicRationale for Financial Control 81

Case Study 6 Enter Mark-to-Market (C): The Disease Spreadsto Enron Clean Fuels 107

Case Study 7 Adjusting the Forward Curve in the Back Room(A) 115

Case Study 8 Enron's SPE's:AVehicle tooFar? 127

Case Study 9 Court Date Coming in California 149

Case Study 10 Jeff Skilling and LJM (A): The "Shootthe Moon" Meeting 169

Case Study 11 New Counsel forAndy Fastow (A) 189

Case Study 12 Nowhere to Go with "The Probability ofRuin" 205

Case Study 13 Lay Back ... and Say What? 227

Case Study 14 "Whistleblowing" beforeimplodingin Accounting Scandals 249

Essay 3 Legacy and Lessons of Enron: Forerunner of theFinancial Crisis? 271

Essay 4 Resisting Corporate Corruption: Tactical Lessonsfrom the Enron Cases 279

Essay 5 Underappreciated Origins of the FinancialCrisis:APersonal Memoir 289

Case Study 1 Should Countrywide Join The Subprime Mortgage"Race to the Bottom?" 311

Case Study 2 Seeking a Sustainable Business Model atGoldman Sachs 337

Case Study 3 Juggling Public Policy, Politics andProfits at Fannie Mae (A) 357

Case Study 4 Sub-Prime Heading South at BearStearnsAsset Management 383

Case Study 5 Ratings Integrity vs. Revenues atMoody's Investors Service 409

Case Study 6 Juggling Public Policy, Politics andProfits at Fannie Mae (B) 437

Case Study 7 Admission of MaterialOmission? Citibank's SIVs and Sub-PrimeExposure 461

Case Study 8 Facing Reputational Risk onGoldman'sABACUS 2007-AC1 487

Case Study 9 Time to "Drop the Hammer"onAIG's Controls? 505

Case Study 10 Write to Rubin? - Pressure onUnderwriting Standards at Citigroup 533

Case Study 11 Wean Lehman Brothers off "Repo105"? 559

Case Study 12 Time to Report Moody's to theSEC? 575

Case Study 13 Take CitiMortgage to the Feds? 595

Essay 6 Chronic Crises, Systematic Breakdowns, EmergingResistance and The Implications for Teaching BusinessEthics 613

A Note on Sources 629

Index

Rezensionen

"Arbogast's meticulously researched case studiescoupled with informative thought-provoking essays provide apractical guide to resisting corporate corruption, making this booka must-read for security professionals looking to expand theirapplied ethics toolkit." (Security Management, 1November 2014)

"I highly recommend the essential and landmark book ResistingCorporate Corruption: Cases in Practical Ethics From Enron ThroughThe Financial Crisis by Stephen V. Arbogast, to anystudents and faculty in graduate or undergraduate business course,law schools, top corporate executives, business leaders at alllevels and sizes of companies, public sector decision makers, andstudents and faculty at any other organizations or schools offeringbusiness ethics instruction seeking a comprehensive and decisionmaking based book through the medium of case studies. This bookprovides the background and the skill set to guide students andbusiness leaders toward more ethical decision making in anyindustry." (Blog Business World, 29 May 2013)

Produkt-Details

• Erscheint lt. Verlag: 20.3.2013
• Sprache: englisch
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Unternehmensführung / Management
• Schlagworte: Accounting • Business & Management • Business Ethics • Commercial Law • Controlling • Corporate/Managerial Accounting • Law • Rechnungswesen • Rechtswissenschaft • Wirtschaftsethik • Wirtschaftsrecht • Wirtschaft u. Management
• ISBN-10: 1-118-65893-0 / 1118658930
• ISBN-13: 978-1-118-65893-2 / 9781118658932