Warren Buffett

President Obama’s Integrity Collapse

/ Jack Marshall / 10 Comments

It is one of the Ethics Alarms truths that “When the going gets tough, the tough get unethical.” That is not universally true, however, for there are individuals, in public and private life, who manage to maintain their ethical values even under pressure, even when unethical tactics appear to be an inviting way out of peril, even when maintaining ethical integrity can lead to failure and defeat.

I once thought Sen. John McCain was such a man, but I was proven wrong when he defeated a conservative rival for his Senate seat by embracing unethical policies and positions that he had once decried. I once thought that Barack Obama, despite his other deficiencies as a leader, had a strong claim to being more honest and ethical than his likely Republican rivals. He is now proving me wrong again. Continue reading →

Now We Know: 22.5% of Business Execs Don’t Know What Ethics Is

/ Jack Marshall / 3 Comments

The Potter Factor: is 20% too much?

David Sokol was widely believed to be the anointed successor to billionaire Warren Buffett at the helm of Berkshire Hathaway Inc. until he resigned unexpectedly, following shocking revelations about his personal stock trading. Clever Sokol! He purchased ten million dollars worth of shares in Lubrizol Corp., a chemical company, then persuaded his boss, Buffett, to acquire it. Buffett agreed, the purchase swelled the values of the stock, and Sokol then sold his shares at a hefty profit, about 3 million dollars.

Sokol lost his job over the transaction, which has tarnished Buffett’s reputation, but he got his money. He appears to have found a neat little loophole in the insider trading prohibitions, which make it illegal for an individual to profit from investments made with the assistance of information that is not generally known. If Sokol knew that Buffett was going to purchase Lurizol and bought the stock to profit from it, he could be headed to jail. Because he made the purchase before he and Buffett discussed the deal, however, he’s only heading to the bank. Galling as it is, most authorities agree that he broke no laws.  Continue reading →

The Second Annual Ethics Alarms Awards: The BEST of Ethics 2010

/ Jack Marshall / 1 Comment

The Best in Ethics 2010. Not nearly long enough…but still a lot of men, women and deeds worth celebrating.

Most Important Ethical Act of the Year: Continue reading →

Ethics Heroes: The Billionaires of “The Giving Pledge”

/ Jack Marshall / 1 Comment

Encouraged by Warren Buffett and Bill Gates, more than 30 U.S. billionaires have pledged to give at least half of their fortunes to charity. Buffett and Gates launched The Giving Pledge project in June. The Giving Pledge does not accept money, or try to steer its participants to any particular cause.  Nor is it a contract. The project asks billionaires to make a moral commitment to give away their wealth to charity.

This is clearly the ideal time for such an effort, when state and local governments are fighting deficits and less wealthy donors are having difficulty meeting prior levels of charity. It is also an eloquent statement by a group of productive, talented, hard-working and patriotic Americans that has been unfairly used too often as a cheap political target by the Obama Administration, Congress and the media.

Nothing bad whatsoever can come from The Giving Pledge. Continue reading →