Now that we are through the 1st quarter, I’d like to hear from you! Chapter 4 to

Now that we are through the 1st quarter, I’d like to hear from you! Chapter 4 touched on ethics in business. View this video. Give a synopsis of any company you may have heard of that acted ethically OR unethically in recent times (if needed, you can use a company featured in the video). What are your feelings toward that company? (50-100 words please). This will go towards your participation grade. There is no right or wrong response. However, I will be evaluating quality of output. Your participation grade(s) will be summated and applied at the end of the term! Abbigail – Whenever I think of a brand as being unethical I think of Nike. For a long time, the public has found out about Nike being unethical. From the 1970s-2000 there were claims of Nike using Sweatshops in developing countries using child labor and low wages to produce their products. More recently there have been claims of the company ‘greenwashing’, or saying that products are made with recycled materials when they are not. I do not like Nike because of the reasons listed above and others I do not have enough room to mention. I myself will not purchase Nike unless it is second hand in order to not support the company. David – I choose to write about the Enron accounting scandal. The Enron scandal was a series of events involving dubious accounting practices that resulted in the bankruptcy of the energy, commodities, and services company Enron Corporation and the dissolution of the accounting firm Arthur Andersen. The three major violations under Generally Accepted Accounting Principles (GAAP) that preceded the collapse of the Enron Corporation were: (1). The off- balance sheet arrangements, (2). The role of mark-to- market, and (3). The manipulation of derivatives. Eight former Enron executives testified, the star witness being Andrew Fastow, against Lay and Skilling, their former employers. The jury reached its verdict on May 25, 2006, convicting both Lay and Skilling.