Ethics as a market for responsible business in the 1990s
Consumers demand ethics from corporations amid Reagan era cynicism and Wall Street scandals. Marjorie Kelly notes a niche for integrity as companies like McDonalds adopt greener packaging. Ultra Pac reports profits from recycled materials while stressing profit as their main mission. Law changes spur harsher penalties for white collar crimes unless firms prove preventive programs.
MENTIONED IN THIS ARTICLE
Wall Street
S&l
Marjorie Kelly
Business Ethics
Norman Bowie
Elmer L. Andersen
University of Minnesota
Carlson School of Management
Ms. Kelly
Chaska
Minn
McDonald's
Ultra Pac
Rogers, Minn
Cal Krupa
Krupa
Pillsbury Co
RTC Sues S&L for 1.2 Billion in Fraud Case
The Resolution Trust Corp filed a 1.2 billion dollar federal lawsuit in Phoenix against Western Savings and Loan Assoc and the Driggs brothers plus about 50 officers and associates. It accuses executives of sham real estate sales to fake profits and conceal losses. The suit seeks 200 million in damages triple under racketeering law and 200 million for negligence. The RTC also targets partners of a law firm connected to Western and notes 1988 losses of over 200 million. The defendants include Gary and John Driggs, Western’s president and chairman, respectively. Mike Hawkins represents the Driggs brothers.
MENTIONED IN THIS ARTICLE
Phoenix
Resolution Trust Corp
Western Savings and Loan Association
Western Savings
Western
S&l
S&ls
Gary
John Driggs
Mike Hawkins
Also Mentioned on This Page
Mr. Krupa
Bowie
Justice Department
Jeffrey Kaplan
Ethikos
Mamaroneck
N.Y
Kenneth Goodpaster
Koch
University of St. Thomas
Goodpaster
Northwest Airlines
Paris
Detroit
Pan Am
Northwest
Kevin Whalen
Honeywell
Whalen
FBI
Johnson & Johnson
James Burke
Burke
Cargill Inc
Cargill
Garland West
East Africa
Cargil
Mr. West
Africa
H.B. Fuller
Fuller
Resistor
Central America
Dick Johnson
Johnson
Kent Hodgson
Hodgson
Jack Vandergrift
Goodwill Industries
Frederick
Ruth van Fossen
RTC
The
Thrift
Gary Driggs
Citizens Savings Bank
Bethesda
Chevy Chase
Damascus
Flower Hill
Gauthersburg
Vauerr Ley
Frederick Branch
Kensington
Omney
Potomac
W. Patrick St
Orince Orchard
Rockville
Suver Spreng
Wheaton-Glenmont
Whie Oak
Canon
AN Market St Frederick, MD
Weare
Burnett
Bernard E. Nunez
Shearson Equity Management
SEM
Shearson
Lehman Brothers
Wisconsin Ave
Awsopal
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