I recall this from a speech I delivered when I was 15 and speaking at the Youth International Technology Summit with Michael Dell in Texas: "Ethics are the corner store for which all business relations are built. Morals and ethics give the businessman the ability to go home each night and sleep peacefully. We can't let corporate subterfuge and creative accounting practices by companies such as WorldCom, Enron, and Anderson Consulting cloud us as investors in the future..."
Seven years later, this is still a topic hot for discussion. Colleges have taken the step to introduce ethics classes but the real question is, isn't it embarrassing they're even needed? I could blog on this topic everyday and it'd get boring quite fast but it does deserve a post today. And that's relating to Bob Nardelli's departure from Home Depot yesterday. His severance package was $210 million. It's sickening. He had already been paid $123 million since becoming CEO through the end of 2005. Is he worth that much? You can argue huge salaries for turnaround CEOs and those creating jobs, growing their company (and the economy), and performing the job...but it's hard to argue anything positive for the CEO that gets a severance package because he's getting ousted because he's not cutting it and his company's customer satisfaction is in the dumps. This poor business at its finest.