There’s a bit of a stigma surrounding those who stand at the top of the corporate ladder. Nobody expects them to have gotten there cleanly, or to maintain the company without committing a few felonies. It’s also expected that most of the time they’ll get away with it Scott free. Is it true? Probably not, but it DOES happen from time to time, and those examples stick into our minds, coloring every corporate executive as a wolf in sheep’s clothes.
So whether they’re a symptom of the problem or ruining it for everyone else, let’s look at some of the corporate executives who’ve committed a crime and got away with it.Lloyd Blenheim, Goldman Sachsen, remember that whole economic crisis that we had and are still in the middle of? This is the guy who caused it, or, at least, gave the boulder a firm kick to get it going.
He and the other executives at Goldman Sachs sold some bad investments, bribed some financial evaluation companies to overprice them in an evaluation, insured them, and then when they failed collected the insurance money from the assets he NO LONGER OWNED.
It was so much insurance that AIG Insurance was bankrupt and had to get some government handouts, which lead to the rest of the crisis. And was he charged? No. Apparently it was too hard to get the burden of proof for his fraud at best, grand larceny at worst. Jon Corzine, MF Global this one is a bit less all extensive than Ballfield’s crime, but at the same time it FEELS worse.
Ballfield lead the country into a depression, but his method of doing so was to con a whole lot of other big companies. MF Global, on the other hand, was on the brink of bankruptcy, and so decided to steal from their customers. 1.6 billion Total in fact.
There is no way that money would ever all be returned even if they were prosecuted, but they aren’t even going to do that for lack of a ‘smoking gun’ style of evidence. Which suggests the law enforcement have no idea how electronic funds work. Or at least, finances, but then again I doubt many people do with how often people try to throw things into question and spin them. Sir Andrew Witty, GlaxoSmithKline it’s not often a criminal is knighted, but that seems to be the case here.
GlaxoSmithKline, a British pharmaceutical company, was charged and pleaded guilty for negligence. Apparently it was promoting its antidepressants for an unapproved use, and also refused to divulge safety information on some of their diabetic drugs. This could have been dangerous, to say the least, and so the company was slammed with a 3 billion dollar fine.
None of that was taken from Sir Andrew Whitty’s pockets. He was not even prosecuted. Even when a company is clearly in the wrong and admits to it, the CEO still walks away without a blemish on his record. Steve Jobs, Apple No, seriously.
Apparently Steve Jobs had a rather bad habit of parking in handicapped parking in the Apple lot and driving without license plates. As far as I can tell, he was never even booked. Even if he was, he seemed to do it rather consistently and a slap on the wrist obviously wasn’t enough. But how does this compare to the others? It doesn’t, but it’s a sign that even the corporate executives we look up to can be dirty in their own way. Steve Parker is a business executive and guest author at BusinessMBA.org, where he contributed to the guide to the best member programs online. I am Shiraz Ali Internet Marketing & SEO Experts. I am the founder and editor of labor, a blog to find and submit the free guest post and get free Do-Follow backlinks for your site. And Facebook