An expose of bad businesses and their unethical practices

I was involved in a conversation a few days ago that reminded me of one of the hallmark cases of Bad Business, with capital B’s. We were discussing the WorldCom case and how it has played out. In checking to see what was happening in this huge corporate fraud case, I ran across this article. It is an outstanding recap of events, and could be used by any company to reinforce the need for integrity in business, and what happens when people forget.

This article focuses on the road back to relative sanity for WorldCom, after it had been fleeced by Bermie Ebbers and crew, in order that some of its assets could be salvaged. As we manage every day, we should remember the price to be paid for personal greed in a corporate setting. There is a price for the fraudulent operators, there is a price for the people that have to pick up the pieces, and there is a price for investors. All of those prices are high.

This would be an excellent article to circulate among your top executives. It tells a cautionary tale of corporate fraud and plundering, of almost unrivaled dishonesty at and near the top. It always seems the guilty never expect to be caught. They somehow always think of themselves as invincible. This is a reminder of just how vulnerable bad business practices can make individuals.