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Showing posts with label ethics. Show all posts
Showing posts with label ethics. Show all posts

Thursday, January 12, 2012

The capitalism excuse


Every scummy thing that a businessman does that is not illegal cannot be justified on the basis of free enterprise or capitalism. Many businessmen do have ethics. However, Mitt Romney has had some past ethical lapses. 

"As Henry Ford said, 'A business that makes nothing but money is a poor business.' While Republicans may love successful businessmen like Fred Smith of FedEx and even admire liberal entrepreneurs like the late Steve Jobs, the parasite and scavenger are not high on their list of respected professions. If Romney gets painted as a leech, he's done for, whether now or in the general election against Obama. "
-- Newt Gingrich "On the Record with Greta Van Susteren" said: 

I've raised the question, which I think is a totally legitimate question, what about some companies that Bain took over that went bankrupt. And all I've said is, you know, this isn't about free enterprise. I mean, this is one of those phony efforts to throw up a smokescreen. This isn't about capitalism. This isn't even about private equity funds. This is about one person who wants to be president of the United States."

There are two companies Bain Capital's acquisition of Ampad exemplified a deal where it profited handsomely from early payments and management fees, even though the subject company itself ended up going into bankruptcy. Bain bought the company for $4 million and used it for collateral for $20 million in loans before AMPAD went bankrupt with all of its employees losing their jobs. 

Dade Behring was another case where Bain Capital received an eightfold return on its investment, but the company itself was saddled with debt and laid off over a thousand employees before Bain Capital exited.

Dade Behring  subsequently went into bankruptcy, with more layoffs, before recovering and prospering.



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Wednesday, December 7, 2011

Monday, November 28, 2011

New Presidential Momorandum could have a big impact on the VA


The presidential memorandum on record keeping could have a big impact on the Veteran Administration with its Byzantine records keeping approach. When a Veteran submits a claim, a claim file (c-file) is opened which is paper document. 
The Major asked for a copy of his c-file more than two years ago. he finally got a copy from --of all places--the Board of Veterans Appeals. It was four volumes and arrived in four 1x1x1 foot boxes. 
The VA has tried to automate, but the last big effort at Bay Pines, FL was a big flop. The computer mainframes and local area network didn't work. However,The Major has noticed scanners through out the VA in his last couple of visits. 
Even submitting a claim or supporting evidence can be difficult. Most claims had to be mailed in or hand carried to the Veterans Center in the VA regional office. Claims can now be submitted online. However supporting evidence must either be mailed to the VA or had carried to the Veterans Center. 
The VA does not provide email addresses or fax numbers. 
Right now the Va has at least five different databases that VA workers must access to provide information on claims. 
These databases need to integrated into a single database. 
You can be certain government bureaucrats will be eager to comply after they get more funds for the automation. 
From the WH Blog: 
Federal records are crucial to documenting the history of our national experience –the problems, the triumphs, and the challenges. 
Records provide a prism through which future generations will view, understand, and learn from the actions of the current generation. A sensible system of records management is the backbone of open government.
For many decades, the framework for records management has been based on an approach developed in the middle of the twentieth century, involving paper and filing cabinets. Things are of course very different today. In the digital age, when many records are made and maintained in electronic form, we have extraordinary opportunities to improve records management. . .

Friday, October 30, 2009

Democrats needs to get their heads out of thier . . .

If you want to lose the next Congressional election, go corrupt like the Republicans did for the last eight years. Most of the names on the ethics investigation list are Democrats. Shame of these greedy Democrats for being so stupid. 


The panel announced that it was probing two California Democrats — Reps. Maxine Waters and Laura Richardson — even as its embarrassed leaders took pains to explain that several other lawmakers also identified in the leaked confidential committee memo may have committed no wrongdoing.

The committee said it was investigating whether Waters used her influence to help a bank in which her husband owned stock, and whether the couple benefited as a result. Separately, the panel is looking into whether Richardson failed to disclose required information on her financial disclosure forms and received special treatment from a lender.

Ethics chairwoman Rep. Zoe Lofgren, D-Calif., recently went to the House floor to announce that a confidential weekly report of the committee from July had leaked out in a case of "cyber-hacking."

The weekly reports include a summary of the committee's work at an earlier stage, when its members and staff scrutinize lawmakers to see whether an investigation is warranted.

The Washington Post reported in its online edition Thursday that the document was disclosed on a publicly accessible computer network.
The Post reported that almost half the members of the House Appropriations defense subcommittee were under scrutiny.

A prior ethics inquiry involves lawmakers who steered appropriations to clients of a now-defunct lobbying firm and received campaign contributions from the firm and its clients.

The names included three lawmakers previously identified in the inquiry: the chairman of the defense subcommittee, Rep. John Murtha, D-Pa.; and Reps. Peter Visclosky, D-Ind., and James Moran, D-Va.

The Post said others whose names were in the report included Reps. Norm Dicks, D-Wash., Marcy Kaptur, D-Ohio, C.W. Bill Young, R-Fla., and Todd Todd Tiahrt, R-Kan.

This is a huge embarrassment to the Democratic Party. Rightardia has no sympathy for corrupt politicians regardless of party affiliation. We like the way the Chinese deal with corruption. China executes corrupt officials.

source: http://www.google.com/hostednews/ap/article/ALeqM5g77OhUU3Qn8z1CXaKKobq-dq2q2gD9BLCF080

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Friday, August 28, 2009

Comedy Central: MBA Ethics Oath

John Oliver enlists the help of a former convict to convince business students to sign an ethics oath.

It's a sad statement that students are unable to commit to such a generic oath. Schools should insist student's sign this oath before they are admitted to an MBA program.


click graphic to enlarge


The Daily Show With Jon StewartMon - Thurs 11p / 10c
MBA Ethics Oath
www.thedailyshow.com

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