Boards 'not engaged' in ethics
Date: 17 Jun 2003
81 percent of firms have carried out ethics and compliance training for some employees, but most still say that the board is not engaged enough with ethical issues according to a survey by the Conference Board.
The survey was carried out with more than 80 ethics, human resources and legal officers participating in The Conference Board's 2003 Ethics Conference in New York.
Around two thirds of respondents thought that remuneration for senior executives was out of control in their companies, with senior executives often rewarded for failure. Not only that, the companies will often put up with ethical lapses on the part of executives because of their good performance in other areas. Less than 8 percent would actually fire them.
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In a recent article, the BBC's economics editor Robert Peston highlighted the fact that in 2012 the chances are that the economy - punch drunk as it is from the various flavours of debt crisis it has been pummelled with over the course of the year - will be hit by the collapse of a major bank and / or government.
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