The boom of the 90-s made cultural heroes out of corporate executives. But this year-s business scandals have been called -Greek tragedy- for CEO-s. As one ethics professor put it, -They defied the gods, and the gods struck them down.- The former cultural heroes are blamed for putting pensions at risk and enriching themselves at investors- expense. Will new rules make CEO-s truly accountable and help them regain their prestige? Can CEO-s regain America-s trust? We hear about hubris, excessive compensation and the anger of pensioners and stockholders, from a business ethicist and leaders from the business and nonprofit world.
- Newsmaker: Big Losses for Vivendi Trigger Sell-Offs
Two years ago, Vivendi was a French water utility business. Then, it became the world-s second largest media company. Now, after losing $ 12 billion in the first half of this year, it-s in big trouble. George Szalai, business reporter for the Hollywood Reporter, looks at Vivendi-s impending sale of -non-core- assets, which include blue-ribbon publishing house Houghton Mifflin, Universal Studios, and theme parks around the world.
Vivendi Water (in French)
Securities and Exchange Commission