Citigroup admitted to risk-management shortcomings and some compliance lapses. Federal regulators not only fined Citigroup $400 million but claimed authority over key staffing. Now the buck stops nowhere. This is bad for Citigroup. And for the rest of us. Bad Citigroup! Bad! Citigroup Board of Directors just signed off on consent orders. They admit “significant …
Citigroup’s $400 Million Fine: The Buck Stops Nowhere Read More »
Sheepdogs are boring losers. Wolves are cool winners. End of story? Not in real life. Hollywood likes to portray business winners as predators. They spot the prey, make the kill, then party hard, pilot yachts, and sleep with Margot Robbie. For a time, perhaps. In real life, such predators often end up sleeping with a …
If my book wins a Pulitzer, I might receive a coveted WashU yellow visitor parking pass. (The red parking pass requires a Nobel.) From the blog: “An ocean liner hits an iceberg in the North Atlantic. Ten people scramble into one lifeboat, and wind and waves drive the lifeboat far from other boats. The passengers …
Olin B-School Blog Features “The Right Way to Win” Read More »
Wells Fargo’s CEO Charles Scharf recently apologized for attributing lack of diversity at his bank to “a very limited pool of black talent to recruit from.” Comments like Scharf’s trigger rapid pile-ons and pushback. Many critics addressed his remarks directly. Coming from a different angle, I would ask whether, had Wells Fargo’s sale numbers disappointed, …
Wells Fargo CEO’s Gaff: Diversity’s Ends and Means Read More »
A spate of blogs and press releases tout upgraded or “new and improved” capitalism, corporate governance, and executive-pay models. Before common sense can prevail, we have to use it. More power to people who want to make things run better. But, how much of what is proposed is really an upgrade, or new and improved? …
Ethics Aikido is the art pushing back without pushback. It doesn’t take a black belt. Just one simple question. I used it once to stop a potentially scandalous $500,000 plane flight. We’ve all found ourselves in ethical jams. Our bosses or colleagues want to do something we think is wrong, or plays too close to …
People don’t want to survive: they want to thrive. To show how, my podcast with World Commerce and Contracting explores The Right Way to Win: The ROI of Ethics and Success. The podcast covers: How ethics and business success reinforce each other How leaders send the message from the top How enforcement trends target middle …
What makes us friends with somebody? Marriage v Friendship “Marriage” is an easier thing to understand. It is a civil contract and/or religious covenant with a defined beginning, defined rights and duties, and defined end. When entering or staying in a marriage, motives and conduct don’t matter. A person who got married for money or …
This is a non-partisan legal question, so nobody get angry. A friend of mine installed a Trump garden gnome in his front yard. Does common law of tort recognize such a thing as an “unattractive nuisance? #TheRightWaytoWin
A recent Corporate Compliance article featured my Best Practices for leveraging U.S. Department of Justice Guidance on Evaluating Corporate Compliance and Ethics Programs (DOJ Guidance). The DOJ will apply the Guidance in deciding whether to prosecute or fine you or your business. Wise people will take note. And use the Guidance to their advantage. Don’t …
Get Out of Jail Free (sort of) — Heeding the DOJ Guidance. Read More »