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I always teach that leaders who knowingly commit ethics violations should never be coached - they should be fired. This dysfunctional spinning led to countless disasters for buyers - who lost their homes and ruined their creditratings. Even one integrity violation can ruin an otherwise wonderful organization. -
The far more interesting question from our standpoint is why Warren Buffett, known for his embrace of ethical business practices, failed to understand the unethicality of Sokol's actions when he learned of them, and intervene. Martin Professor of Business Ethics at the University of Notre Dame. Tenbrunsel is the Rex and Alice A.
It appears that Enron''s final fatal mistake was to try to support its stock price instead of living up to key contractual obligations required to maintain its creditrating. What caused Enron''s bankruptcy was, quite simply, the loss of its investment-grade creditrating. Ethics Failure Finance'
The second objective of all three parties was the avoidance of a creditrating downgrade. At the time (prior to the actual downgrade), the threat of a credit downgrade forced all three parties to the negotiating table. This was believed to be highly unlikely. Additional Information.
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