首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
Why are there so many corporate abuses today?
Why are there so many corporate abuses today?
admin
2014-12-11
56
问题
Why are there so many corporate abuses today?
W: Joining us to discuss all of this, George Washington University law professor Lawrence Mitchell. Professor Mitchell is the author of a book called Corporate Irresponsibility, the emphasis I believe on irresponsibility. Professor, the gist of your book and your views, [1] is it irresponsibility that is driving so many things in this corporate abuse context?
M: [1] Well, yes, it is, except that the most important thing to emphasize is the source of the irresponsibility and why it’s happening now. Because many people ask, we’ve had this great bubble market; we’ve had a healthy stock market, for the most part, since the Great Depressions, why all this now? [1] And the answer to that, it seems to me, is that over the past couple of decades, for a variety of sometimes related and sometimes unrelated reasons, what we have seen develop among the American investment community, as well as among corporate executives — and that is not unrelated — is an extraordinary emphasis on short-term stock price maximization, a need to get the earnings up every single quarter, to get the stock price up every single quarter. And you can not do that the old-fashioned way. You can not do it just by earning money. No business can do that over a sustained period of time.
W: Professor, in the business schools around the world, is the pursuit of the dollar and the yen and whatever currency we are talking about the driving force in the business world today?
M: Well, yes, actually. I think maybe business ethics will have a comeback, but yes. In fact, [2] my colleagues in the business schools tell me that they almost do not talk about ethics at all; they all talk about the bottom line. And that is something that has become increasingly true over the years.
W: Now, let us take the other side of that view, which is to say that businessmen, indeed the President of the United States and others, have said this is really just a few bad apples in the cart and it really does not represent the entire business world. What is your view about that?
M: I think that is true when you are talking about things like the kind of outright fraud and crime that we saw in the case of WorldCom, in the case of Global Crossing apparently, in the case of Enron apparently, Tyco — the list gets a little long. But I think that is right. 1 think, for the most part, it is true that most business people, just like you and me, go to work every day and try to do their jobs the best they can. They are honest, decent people. So, in that narrow respect of criminal activity or borderline criminal activity, he is right about it. [3] The broader problem, though, is the short term profit push is not just about crime, it is about stretching the accounting rules within legal limits but somehow distorting them. Managed earnings — nobody ever talked about managing earnings 20 years ago. This is a new concept. You find it, too, for example, in promiscuous layoffs. One of the best ways to get your quarterly numbers up is to lay off a bunch of people. [4] The great Jack Welch partly made his name firing 125,000 workers — 125,000 workers — over the course of his tenure at G. E. That is an enormous amount of people. And it is incredibly dislocating. You wind up with environmental short-cutting. You wind up sometimes with product short-cutting. We saw that in the auto industry, both with Ford and Firestone. We saw it in a couple of other cases where a few dollars here or there spent would have made a slight difference in the bottom line but it would have saved lives.
W: Let us talk for a moment or so — we have about a minute left in the segment — about the news, which is to say, Wednesday, the markets are surging back. How do you explain it? [5] I know that the conference committee on Capitol Hill has worked out some new legislation that would impose new penalties on corporate fraud. Is that part of the psychology that led to the surge today?
M: I think so. [5] I am tempted to say that it is because the President did not talk today, at least about this.
W: I am sure he would have another view on that.
M: I am sure he would, and we could disagree. I think this was predictable in some respects. You have seen over the last week people talking about the market trying to find its bottom. At this point, P/E ratios are below historical averages, and there is a point at which I think, even with the uncertainty, Wall Street says, "Enough, it is time to start buying again." All I can say is, wait till tomorrow.
W: All right, we’ll see. Professor Lawrence Mitchell, of George Washington University Law School, thanks for your interview. Professor Mitchell thanks so much for being with us.
M: Thank you for having me.
选项
A、It is about crime and fraud.
B、It is about distorting the accounting rules within legal limits.
C、It is about managing earnings.
D、It’s about the new legislation.
答案
B
解析
细节题。根据上题解析可知,追求短期利益不仅仅涉及到犯罪,还涉及在法律规则之内任意解释或歪曲会计规则。因此答案为[B]。
转载请注明原文地址:https://kaotiyun.com/show/GVdO777K
0
专业英语八级
相关试题推荐
IcametoAfricawithonepurpose:IwantedtoseetheworldoutsidetheperspectiveofEuropeanegocentricity.Thesimplestway
Earlyanthropologists,followingthetheorythatwordsdeterminethought,believedthatlanguageanditsstructurewereentirel
Imaginethatyoucouldrewindtheclock20years,andyou’re20yearsyounger.Howdoyoufeel?Well,ifyou’reatalllikethe
IntheUnitedStatescommunitycollegesoffer
Weareallfamiliarwiththesaying,"Itisbettertogivethantoreceive."Inthismodernmaterialisticsociety,thisconcept
Itisabittertruththatcollegedegreesarenolongerticketstojobs.Inordertogetajoboffer,graduateshavetoproveth
PositiveforYouthaimstoplaceteenagersandyoungpeopleatitsheart.Thereistheaccurateexpectationteenagersthemselves
Whilemanynationshaveagingpopulations,Japan’sdemographiccrisisistrulydire,withforecastsshowingthat40percentof
Scientistsfindingoutthattheuniverseisevenlargerandmorecomplexthananyonehaseverimagined.
IfyouareayoungishmanwhositsonaEuropeancorporateboard,youshouldworry:thechancesarethatyourchairmanwantsto
随机试题
有关国家公务员的考核、奖励、处分、职务升降、轮换、回避等一系列制度的总和被称为国家公务员
A蜂蜡B羊毛脂C软石蜡D石蜡E二甲基硅油为淡黄色黏稠微具特臭的半固体是羊毛上的脂肪性物质的混合物
A.溶液型药剂B.胶体溶液型药剂C.混悬液型药剂D.乳浊液型药剂E.混合分散体系硼酸甘油的分散体系属于
A、等长运动B、等张训练C、等速训练D、向心性训练E、离心性训练肌力大于阻力时产生的加速度运动和小于阻力时产生的减速度运动,运动时肌张力基本恒定,但肌肉本身发生缩短和伸长,从而引起明显的关节运动
2016年1月,居民甲购买一处房屋,房屋价值80万元。甲采取分期付款的方式,分四年支付,每年付款20万元(假设没有延期支付利息),甲在当年购买时支付了20万元。则2016年甲购买房屋应缴纳契税()万元。(契税适用税率3%)
根据《行政处罚法》的规定,行政拘留只能由()。
根据党的十八大报告,()是国家富强、民族振兴的重要标志。要坚持把社会效益放在首位、社会效益和经济效益相统一,推动文化事业全面繁荣、文化产业快速发展。
和谐文化融思想观念、理想信仰、社会风尚、行为规范、价值取向为一体,是对和谐社会的总体认识和评价,它对人们的行为起着潜移默化的作用,这说明()①事物的整体与部分不可分割②正确的意识对事物发展起积极作用③意识可以改造客观事物
层次模型的数据结构是______。
在考生文件夹下完成下列操作:(1)建立一个表单名和文件名均为myform的表单,如下图所示。表单的标题为“教师情况”,表单中有两个命令按钮(Command1和Command2),两个复选框(Checkl和Check2)和两个单选按钮(Option1和Op
最新回复
(
0
)