Resisting corporate corruption : practical cases in business ethics from Enron through SPACs / Stephen V. Arbogast.

Includes bibliographical references and indexes.

Table of Contents
Preface
Foreword

Introduction to the 4th Edition

Note to Faculty: How to Use this Book

Acknowledgements

The Enron Cases Part 1 Demolishing Financial Control, Neutering the Gatekeepers

Chapter 1 Enron Oil Trading: Untimely Problems in Valhalla

Chapter 2 Enter Mark-to-Market: Exit Accounting Integrity?

Chapter 3 Part 2 Business Struggles, Accounting Manipulations; Enron's SPEs: A Vehicle too Far?

Chapter 4 Court Date Coming in California?

Chapter 5 Part 3 Resisting Corruption at Enron; New Counsel for Andy Fastow

Chapter 6 Lay Back … and Say What?

Chapter 7 Whistleblowing Before Imploding in Accounting Scandals

The Financial Crisis Cases Part 1 New Business Models Undermine Standards and Controls

Chapter 8 Seeking a Sustainable Business Model at Goldman Sachs

Chapter 9 He's Madoff with the Money – Stop Him Now?

Chapter 10 Should Countrywide Join the Subprime ‘Race to the Bottom’?

Chapter 11 Subprime Heading South at Bear Stearns Asset Management

Chapter 12 Part 2 Consequences for Gatekeepers and Firms; Ratings Integrity vs. Revenues at Moody's Investors Services

Chapter 13 Admission of Material Omission? Citigroup's SIVs and Subprime Exposure

Chapter 14 Facing Reputational Risk on Goldman's ABACUS 2007-AC1

Chapter 15 Time to Drop the Hammer on AIG's Controls?

Chapter 16 Part 3 Financial Firms and Resisters; Write to Rubin? – Pressure on Underwriting Standards at Citigroup

Chapter 17 Lehman Brothers Repo 105

The Post-Crisis Cases – Reforms, Resistance, Continuing Realities Part 1 The Dodd-Frank Act: A Primer

Chapter 18 Back to the Future on Goldman Sachs Reputational Risk

Chapter 19 Take Customer Cash to Survive? Compliance and Chaos at MF Global

Chapter 20 Too Big to Know What's Going on at Banamex?

Chapter 21 Take CitiMortgage to the Feds?

Chapter 22 Faking it on Diesel Emissions at VW (A)?

Chapter 23 Faking it on Diesel Emissions at VW (A)?

Chapter 24 Fake it Till You Make it at TESLA?

Chapter 25 Fake it Till You Make it with Patient Blood at Theranos?

Chapter 26 Fake it Till You Cash Out?' on Flexible Office Space at WeWork?

Chapter 27 What to Do About Faking it at Nikola?

Index

Resisting Corporate Corruption teaches business ethics in a manner very different from the philosophical and legal frameworks that dominate graduate schools. The book offers twenty-seven case studies and eight essays that cover a full range of business practices, controls, and ethics issues. The essays discuss the nature of sound financial controls, root causes of the Financial Crisis, contemporary ethics challenges like 'Fake it Till You Make It,' and the evolving nature of whistleblower protections. The cases are framed to instruct students in early identification of ethics problems and how to work such issues within corporate organizations. They also provide would-be whistleblowers with instruction on the challenges they'd face, plus information on the legal protections, and outside supports available should they embark on that course. Some of the cases illustrate how 'The Young are the Most Vulnerable,' i.e. short-service employees are most at risk of being sacrificed by an unethical firm. Other cases show the ethical dilemmas facing well-known CEOs and the alternatives they can employ to better combine ethical conduct and sound business strategy. Through these case studies, students should emerge with a practical toolkit that will help them to follow their moral compass. Finally, the cases provide an in-depth look at how a corporation becomes progressively corrupted (Enron), how the Financial Crisis was rooted in ethical decay at institutions as diverse as Countrywide, Goldman Sacks, Citigroup, and Moody's, and at the ethical challenges that have emerged in the post-crisis, post-Dodd-Frank environment at firms like TESLA, VW, Theranos and WeWork.

Stephen V. Arbogast is Professor of Practice of Finance and Director of the Energy Center at the Kenan-Flagler Business School, University of North Carolina at Chapel Hill. At the Energy Center, he leads industry conferences and research on the Energy Transition. From 2004-2014 Arbogast was Executive Professor of Finance at the University of Houston. From 1972-2004, he worked for ExxonMobil Corporation in various finance positions, serving overseas in Brazil and Thailand, and culminating as Treasurer of ExxonMobil Chemical Company. Professor Arbogast has authored over eighty case studies and published articles on the Energy Transition, project finance, advanced biofuels, and the disconnect between economics and Catholic Social Doctrine. Since 2010 he has been a member of the Technical Review Panel of the National Renewable Energy Laboratory.