The Ethical Barometer

Laura Pendergest-Holt, the chief investment officer of Stanford Financial Group, was arrested for obstruction of the SEC inquiry into Stanford, which appears to have been yet another Ponzi scheme ( a mere $8 billion).Â Ms. HoltÂ is 35 years old and hasÂ known James Davis, second in command to Sir Allen Stanford, since she was 15.Â Davis hiredÂ Ms. Pendergest-Holt in 1997, just after she graduated with a degree in math.Â There you have it, one of the Seven Signs:Â The iconic leaders, charismatic,Â well known,Â and respected in the community, Davis and Stanford, surround themselves with young ‘unsÂ (a full generation younger) who want to beÂ successful and rich.Â The young ‘unsÂ work hard and don’tÂ ask questions.Â The SEC picks at them first, and so Ms. Pendergest-Holt and her ankle monitor awaitÂ the grinding wheels of justice.Â BewareÂ the Seven Signs.Â Â Read the book, the Barometer’s own, “The Seven Signs of Ethical Collapse:Â How to Avoid Moral Meltdowns Before It’s TooÂ Late.” (St.Â Martin’s)Â Â Â Â

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There were 19,000 people who became ill and 8 who died from the processed peanuts of Peanut Corporation of America, now in Chapter 7 bankruptcy.Â Such are the lessons of warnings unheeded.Â Such are the consequences of placing “$$$$” on the floor into production.Â Such are the results when positive salmonella tests are unheeded and undisclosed.Â This niche of low-cost peanut product was Peanut Corporation’s for the taking.Â But the company cut corners on maintenance, used temporary workers to save labor costs, and failed to heed warnings from labs on positive test results.Â This self-destructive behavior is a lesson for companies in all industries following a similar pattern.Â Don’t risk safety for the almighty margin.Â A few pennies per pound more on maintenance and labor may just prevent injuring others AND bankruptcy.Â

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The Ethical Barometer

Governor Pat Quinn: Ethical Leadership

The Rangel Round-Up: Another Nominee and Back-Taxes

“The Seven Signs” Theory Holds True Once Again

“[They used] a strip-mall accounting firm.”

“‘Psychopath’ — it’s too nice a word for him. ‘Sociopath,’ ‘psychopath,’ it means there is a sickness, a pathology. This man knew what he was doing. I would simply call him thief, scoundrel, criminal.”

Let’s Recap: Another Madoff

“You might have crossed a few ethical lines if you work in the court system in Luzerne County, PA.”

“He’s being railroaded. Why would anybody send something out that would ruin his own company? It’s like an auto dealer sending a car out with no brakes.”

Moral Hazard Is More Than a Theory

“I was young. I was stupid. I was naive.”

A Safety Tip for MLB: What Goes Around

Peanut Corporation of America, the demise

“The cost is costing us huge $$$$.” “desperately at least need to turn the Raw Peanuts on our floor into money . . . we have other peanuts on the floor that we would like to do the same with.”

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