Whistleblowers - The New Corporate Conscience Keepers?
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Code : GOV0002
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Region : USA |
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The Whistleblowers Among those instrumental in the exposure of most of these scandals were whistleblowers (literally, those who see a crime and blow a whistle hoping to stop it) like SherronWatkins of Enron, Cynthia Cooper ofWorldComand Coleen Rowley of the FBI, who were selected by Time magazine as Persons of theYear in 2002. Senator Joe Biden called whistleblowers national assets and Tom Devine of the Government Accountability Project said that they were “the lifeblood of anti-corruption campaigns”.8 Media focus on these women helped bring lesser-known whistleblowers to light (Annexure II). It also initiated a number of studies into what made an employee blow the whistle and the price they had to pay for their courage... Sherron Watkins of Enron An accountant from Tomball, Texas,Watkins joined Enron in late 1993. In mid-2001, she accepted a position in Enron’s Mergers and Acquisitions (M&A) group. It was headed by Andy Fastow, the then CFO of Enron who was later indicted on 109 criminal charges in the fiasco. Enron was divesting several assets andWatkins was responsible for reviewing and evaluating the economic impact of the sale of each asset... |
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Russel Hayes of Canadian Marconi Co One of CMC’s military communications divisions’ products was a radio developed in the 1960s. Made up of five portable components, this radio was used extensively by NATO military forces. Known as the 103, the radio could be used as a wireless telephone within an 80-kilometre range17 and was quite popular. However, with the advent of better digital devices in the 1990s, CMC faced dipping revenues and increased manufacturing costs...
Barron Stone of Duke Energy Corp Duke Energywas a leadingNorthAmerican energymarketer with an international presence. Its plants have a generating capacity of 18,000 MW and distribute power to two million customers in the Carolinas.24 Duke Power unit ran its regulated utility business and through it, the government allowed the company to earn amaximumrate of return _ 12.25%in South Carolina and 12.5% in North Carolina.25 If the company’s earnings exceeded that, the regulators could cut down the rate charged to the customer...
