Scandalous
Found here (http://java.sys-con.com/read/295370.htm), it is obvious that some people are willing to do ANYTHING in order to make their wealth, irregardless of who they hurt in the process.
This article states that Sanjay Kumar, CEO of Computer Associates has been found guilty of fraud and faces up to 12 years in prison as well as $8 million dollars in fines.
He is convicted of back dating contracts into what he calls the “35 day month” in order to meet revenue forecasts. All in all, he appears to have made a $2.2 billion dollar fraud in stocks of the company.
He obviously was not able to control his impulses, nor has he heard that “honesty is the best policy.”
As I have resoundingly repeated, time and time again, what was he thinking? If you act unethically in today’s market, you will be found. You might be able to get away with it for a while, but you will inevitably be found.
I know that I am personally dissatisfied with many of the current corporate problems ranging from securities fraud, deception, or in Wal-Mart’s case, not paying their workers a living wage. The combination of these factors is drastically affecting the consumer mindset in America.
While I currently may not be able to choose where I can put my money due to constraints, I AM making notes of where I will not be spending when I begin my career.
It seems a poor place where people can be rewarded for cheating, lying, and deception, whereas the hard working man is “shafted” so to speak.
I believe the penalties for Mr. Kumar are too light. Pain (speaking in monetary and incarceration terms) is a great motivation, for if the pain and penalty are great enough, one would usually ponder before making a mistake of such gravity. I believe that in order to dissuade from this behavior more, increasingly stringent penalties should be enforced. I think in light of these scandals and the innumerable more occurring now that we don’t know about, the majority of the countries consumers should charge the policy makers in Washington for stricter guidelines and punishment.
We are supposed to learn from our mistakes, yet the corporate world seems to avoid this concept completely.
This article states that Sanjay Kumar, CEO of Computer Associates has been found guilty of fraud and faces up to 12 years in prison as well as $8 million dollars in fines.
He is convicted of back dating contracts into what he calls the “35 day month” in order to meet revenue forecasts. All in all, he appears to have made a $2.2 billion dollar fraud in stocks of the company.
He obviously was not able to control his impulses, nor has he heard that “honesty is the best policy.”
As I have resoundingly repeated, time and time again, what was he thinking? If you act unethically in today’s market, you will be found. You might be able to get away with it for a while, but you will inevitably be found.
I know that I am personally dissatisfied with many of the current corporate problems ranging from securities fraud, deception, or in Wal-Mart’s case, not paying their workers a living wage. The combination of these factors is drastically affecting the consumer mindset in America.
While I currently may not be able to choose where I can put my money due to constraints, I AM making notes of where I will not be spending when I begin my career.
It seems a poor place where people can be rewarded for cheating, lying, and deception, whereas the hard working man is “shafted” so to speak.
I believe the penalties for Mr. Kumar are too light. Pain (speaking in monetary and incarceration terms) is a great motivation, for if the pain and penalty are great enough, one would usually ponder before making a mistake of such gravity. I believe that in order to dissuade from this behavior more, increasingly stringent penalties should be enforced. I think in light of these scandals and the innumerable more occurring now that we don’t know about, the majority of the countries consumers should charge the policy makers in Washington for stricter guidelines and punishment.
We are supposed to learn from our mistakes, yet the corporate world seems to avoid this concept completely.
posted by Kyle at 3:58 PM
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