Author Archives: mmjdiary

About mmjdiary

Professor Marianne Jennings is an emeritus professor of legal and ethical studies from the W.P. Carey School of Business at Arizona State University, retiring in 2011 after 35 years of teaching undergraduate and graduate courses in ethics and the legal environment of business. During her tenure at ASU, she served as director of the Joan and David Lincoln Center for Applied Ethics from 1995-1999. In 2006, she was appointed faculty director for the W.P. Carey Executive MBA Program. She has done consulting work for businesses and professional groups including AICPA, Boeing, Dial Corporation, Edward Jones, Mattel, Motorola, CFA Institute, Southern California Edison, the Institute of Internal Auditors, AIMR, DuPont, AES, Blue Cross Blue Shield, Motorola, Hy-Vee Foods, IBM, Bell Helicopter, Amgen, Raytheon, and VIAD. The sixth edition of her textbook, Case Studies in Business Ethics, was published in February 2011. The ninth edition of her textbook, Business: lts Legal, Ethical and Global Environment was published in January 2011. The 23rd edition of her book, Business Law: Principles and Cases, will be published in January 2013. The tenth edition of her book, Real Estate Law, will also be published in January 2013. Her book, A Business Tale: A Story of Ethics, Choices, Success, and a Very Large Rabbit, a fable about business ethics, was chosen by Library Journal in 2004 as its business book of the year. A Business Tale was also a finalist for two other literary awards for 2004. In 2000 her book on corporate governance was published by the New York Times MBA Pocket Series. Her book on long-term success, Building a Business Through Good Times and Bad: Lessons from Fifteen Companies, Each With a Century of Dividends, was published in October 2002 and has been used by Booz, Allen, Hamilton for its work on business longevity. Her latest book, The Seven Signs of Ethical Collapse was published by St. Martin’s Press in July 2006 and has been a finalist for two book awards. Her weekly columns are syndicated around the country, and her work has appeared in the Wall Street Journal, the Chicago Tribune, the New York Times, Washington Post, and the Reader's Digest. A collection of her essays, Nobody Fixes Real Carrot Sticks Anymore, first published in 1994 is still being published. She has been a commentator on business issues on All Things Considered for National Public Radio. She has served on four boards of directors, including Arizona Public Service (1987-2000), Zealous Capital Corporation, and the Center for Children with Chronic Illness and Disability at the University of Minnesota. She was appointed to the board of advisors for the Institute of Nuclear Power Operators in 2004 and served on the board of trustees for Think Arizona, a public policy think tank. She has appeared on CNBC, CBS This Morning, the Today Show, and CBS Evening News. In 2010 she was named one of the Top 100 Thought Leaders in Business Ethics by Trust Across America. Her books have been translated into four different languages. She received the British Emerald award for authoring one of their top 50 articles in management publications, chosen from over 15,000 articles. Personal: Married since 1976 to Terry H. Jennings, Maricopa County Attorney’s Office Deputy County Attorney; five children: Sarah, Sam, and John, and the late Claire and Hannah Jennings.

“I looked right at him, and in my head I said, ‘That’s a snake’ — not knowing who he was.”

A potential juror during voir dire in the jury trial (for securities fraud) of Martin Shkreli. Other potential jurors, who were struck one-by-one, did not have much better, even after the judge reminded the potential jurors that the trial was … Continue reading

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“Marketplaces don’t work when people are cheating.”

Travis Kalanick, Founder and Former CEO, Uber. Hmmmm.

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Uber: The Gang That Can’t Shoot Straight

Uber was a Schumpeterian success. The creative destruction of the cab/Lincoln Town car transportation model. Independent contractors driving folks around in their own cars on their own schedules. Uber was hip, groovy, defiant, and the company the sophisticated opted to … Continue reading

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The NCAA Report “Does Not Identify a Single Specific Thing That Coach Pitino Should Have Done. . . “

Scott Thompsett, lawyer for Louisville head basketball coach, Rick Pitino, handling Mr. Pitino’s appeal of NCAA sanctions against him for the former director of operations providing strippers and prostitutes to basketball recruits in the basketball dorm on the campus. Actually, … Continue reading

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“8 Years of Rust Show as Senate Ethics Committee Finally Has Meeting”

New York Times, June 16, 2017, p. A24. Now there’s a headline. The headline refers to the ethics committee of the New York State Assembly. And it only took 12 senators being convicted of crimes and a host of various … Continue reading

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Why Goldman Sachs Fund Managers Scooped Up Venezuelan Bonds Without Checking First

Goldman Sachs fund managers did not hesitate when a brokerage firm offered to sell them Venezuelan bonds for pennies on the dollar. Why not hop in and help fund a government that has left its people without food, toilet paper, … Continue reading

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Curley, Schultz, and Spanier of Penn State Sentenced to Prison

For endangering the welfare of a child, the former president, a senior vice president, and athletic director were sentenced by a Pennsylvania judge to a minimum of two months in prison, with varying additional confinement time among the three, fines, … Continue reading

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The key to the bottom line is the top line . . . if we had to select only one goal, it would be revenue growth.

From Wells Fargo’s mission statement in 2012. They did indeed get the revenue growth — on the retail side, Wells sold its retail customers an average of 5.9 products each. Wells led the industry in that per customer figure. However, … Continue reading

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Wells Fargo Has a Plan for Luring Brokers: Bonuses Based on Performance — Sound Familiar?

In the aftermath of the fake accounts scandal at Wells Fargo, Wells Fargo lost 429 (3%) of its its brokers from its brokerage arm. As its rivals are cutting back on signing bonuses for the long time industry practice of … Continue reading

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What We Can Learn from Citigroup’s Money-Laundering Settlement

Citigroup has agreed to pay $97.4 million to end the inquiry of the U.S. Justice Department into the money-laundering that was occurring through the bank’s facilities at Banamex. The bank has already paid $140 million to FDIC as a fine … Continue reading

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“I think I can read between the lines more than a lot of people on these issues.”

Jon Corzine, former Goldman chair, former U.S. senator, former governor of New Jersey, former head of MF Global, a company that was the second largest bankruptcy in history (only Lehman was bigger)following a “temporary” loss of $1 billion I customer … Continue reading

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“Taking into account both the circumstances of this matter and his otherwise exemplary record since joining Barclays, including contributing significantly to improvements in Barclays culture and controls, Jes continues to have the Board’s unanimous confidence and it will support his re-appointment at Barclays Annual General Meeting on May 10, 2017.”

John McFarlane, chairman of Barclay’s Bank on the Board’s position on retaining James E. Staley (Jes) as the bank’s third CEO since 2012, when the bank’s LIBOR rate-fixing scandal became public. Mr. Staley tried to obtain the identity of an … Continue reading

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“It’s one of the toughest of the toughest jobs in city government, and all people want to talk about is the God-forsaken cars.”

New York City Mayor Bill de Blasio defending his embattled jails chief. Actually, Mayor, the car issue arose because the guy spent 90 days out of the state last year — the car was just how he got there. Bad … Continue reading

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They Told Me I Could Take My City-Issued Vehicle to Maine

Joseph Ponte, embattled commissioner of the New York City Department of Corrections, insists that he was told by city officials that it was A-Okay for him to drive his city-issued vehicle out of state on personal trips. Mr. Ponte was … Continue reading

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