What About Investor Ethics?
NEW YORK ( TheStreet) -- In every uncovered cover-up and every whistle blown on a scandal, an irrefutable truth comes to light: someone else knew and was complicit, complacent or corrupt in the misconduct's happening.
We connect the dots to CEOs, their teams, the boards and perhaps regulators or other law officials, but here's the awkward question: What responsibility does the investor have in supporting unethical conduct? Should investors put up with companies that hire "bad characters" as CEOs?
As an example, consider the revolving CEO door at Hewlett-Packard (HPQ). Since 2005, it has seen Fiorina, Hurd, Apotheker and now Whitman, not to mention interims in between those stints -- is HP worthy of investment? Should investors take a "wait and see" attitude? Should investors demand the HP Board be re-constructed? What would be a corporate strategy worthy of ongoing support?
|Investors need to consider their role in bad corporate practice and misdeeds.|
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