I recently had a long conversation with a merchant banker who \u00a0requested information about a certain company. He was told that their \u00a0business practices are unethical, bordering on fraudulent. An example\u00a0was given, and he suggested that next time he had the opportunity, he \u00a0would speak with the Chairman in confidence about it. He was \u00a0immediately informed that not only did the Chairman know about these \u00a0practices, but that he blessed them.<\/p>\n
We are discussing a publicly traded company, on the verge of a major \u00a0stock play. Certain members of the executive team stand to walk away \u00a0with tens of millions …..<\/p>\n
The will to bank millions was too great and he lined his pockets, \u00a0knowing full-well that there were many small shareholders who would be \u00a0losing out. Sarbanes Oxley and Bill 198 were passed to stop these \u00a0practices…but unfortunately there are too few to risk blowing the \u00a0whistle and not capitalizing personally.<\/p>\n
It will be a very frightening day when the pendulum starts to swing in \u00a0the other direction, and the minor shareholders decide that they are \u00a0\u2018not going to take it anymore\u2019<\/p>\n","protected":false},"excerpt":{"rendered":"
I recently had a long conversation with a merchant banker who \u00a0requested information about a certain company. He was told that their \u00a0business practices are unethical, bordering on fraudulent. An example\u00a0was given, and he suggested that next time he had the opportunity, he \u00a0would speak with the Chairman in confidence about it. He was \u00a0immediately … Continue reading Ethics ……or lack thereof……..<\/span>