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L. Dennis Kozlowski and Mark Swartz got up to 25 years each in prison, and are ordered to pay nearly 240 million dollars in court this year. Is that enough? Or in a few years will they have their own reality show like Martha Stewart?
Let us review:
Samuel Waksal, founder of ImClone Systems Inc., was fined $4.3 million and sentenced to 7 years, and is in federal prison.
Jamie Olis, former vice president of Dynegy Inc., is sentenced to 24 years for financial fraud.
Martha Stewart, please.
Frank Quattrone, investment banker, 18 months, free on appeal.
John and Timothy Rigas, Adelphia, 15 and 20 years respectively, free on bail. If my wife had her way, life with no parole, and a spanking- you know mothers.
Bernard Ebbers, WorldCom, 25 years free on appeal. My wife bought stock in that one, instead of just TV service, so I’d hate to see what she would do with him.
And the list goes on. Why would people who had everything, and could have everything, have such a lack of values?
I read a recent poll (finally not about the California’s special election- my wife is voting yes on all of them, if you think he is the Terminator) that said most employees would judge an executive or boss on the basis of honesty.
Is it really just greed? An arrogance that “I can get away from everything and everyone, I am king”- and we all know it is good to be king. (See Mel Brooks)
How do these people live with themselves? I guess very comfortably. Except when they have to part with cash, and get a new room complete with roommate.
Be careful Mr. Oil Executive, remember no lavish parties on videotape, keep it on the low down.
I am a capitalist, and think it is a great system with a lot of freedom. Maybe everyone ought to slow down and look at values, character and goals that all of the stakeholders can see. Perhaps they need some coaching before they make bad mistakes. Do you think Martha is going to be calling? I guess not. But the Board of Directors should have my hotline.
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