Tapsearch Com EditorEconomic diseases highly communicable (LINK)
May 29th 2008 16:16
Franklin Roosevelt said - economic diseases are highly communicable. In the last post we told about the spread of global corruption.
The story continues from an article on the business pages of the Cleveland Plain Dealer May 27, 2008 :
Exec admits slush fund - Siemens AG accused of bribery for orders
(Before telling this story, lets put a personal touch to it. Are you saying to yourself right now, this is nothing new, it goes on all the time ? Where does the dark side of situation ethics start if not with you and me. Is it only something out there that is going on or is it closer to home? What is happening in your workday? Is Sunday church service just a hobby practiced on Sundays and curtailed for the duration of the week on Monday when work begins? ).........
Reinhard Siekaczek, a former manager at the ICN fixed-line telephone network division ( of Siemen ), is the first to go on trial over the company's corruption scandal that came to light last year.
Siekaczek, 57, is charged with 58 counts of breach of trust. Prosecutors allege that he set up a complex network fo shell corporations that he used to siphon off company money over several years. The money was allegedly was used as bribes to help secure contracts abroad by paying off would-be-suppliers, government officials and potential customers. ( Note the chain of all involved- not just one but a circle of contacts. ) Siekaczek acknowleged having set up the slush funds.
" The whole sectoral management was naturally informed that this function was carried out by me," ( note the underlined comment - all of management knew what was going on. ) He said he used a system of money consultants ( note again the spread of the economic disease to other third parties. ) "I saw no other possibilties," he said. " I myself derived no benefits," he said. ( Note he did not mention the benefit of his survival in an economic jungle. )
Breach of trust carries a maximum possible sentence fo five years in prison. The trial is scheduled to last through July. Siemens has acknowledged dubious payments of up to $2 billion in the wider corruption case uncovered last year.
The company, which makes everything from wind turbines to trams, agreed in October to pay a $317 million fine to bring an end to some legal proceedings in Germany related to the scandal.
Reference: Cleveland Plain Dealer, Nation and World, Business section, May 27, 2008 - newspaper
Special note: Siemens U.S. corporate offices are in New York City. They employ 70,000 with sales of 21,4 billion in the USA. Their total sales worldwide in 2006, was 107.4 billion dollars and employ 480,000 in 190 countries. ( Economic diseases travel far.)
( During the beginning of my sales career, I was told to put a bottle of good scotch whiskey in a shoe box and send it back to the purchasing agent while waiting for our appointment. I was told I would lose the account if I did not do it. I refused to do it and lost this major account but I knew that once I started the process, it would never end and it would be the birth of many economic sins. As President Roosevelt said, economic diseases are highly communicable. )
Anyone who has done business with others in the world , know that economic diseases are more universal in a global economic arena. What was once decentralized is now global in nature.
The story continues from an article on the business pages of the Cleveland Plain Dealer May 27, 2008 :
Exec admits slush fund - Siemens AG accused of bribery for orders
(Before telling this story, lets put a personal touch to it. Are you saying to yourself right now, this is nothing new, it goes on all the time ? Where does the dark side of situation ethics start if not with you and me. Is it only something out there that is going on or is it closer to home? What is happening in your workday? Is Sunday church service just a hobby practiced on Sundays and curtailed for the duration of the week on Monday when work begins? ).........
Reinhard Siekaczek, a former manager at the ICN fixed-line telephone network division ( of Siemen ), is the first to go on trial over the company's corruption scandal that came to light last year.
Siekaczek, 57, is charged with 58 counts of breach of trust. Prosecutors allege that he set up a complex network fo shell corporations that he used to siphon off company money over several years. The money was allegedly was used as bribes to help secure contracts abroad by paying off would-be-suppliers, government officials and potential customers. ( Note the chain of all involved- not just one but a circle of contacts. ) Siekaczek acknowleged having set up the slush funds.
" The whole sectoral management was naturally informed that this function was carried out by me," ( note the underlined comment - all of management knew what was going on. ) He said he used a system of money consultants ( note again the spread of the economic disease to other third parties. ) "I saw no other possibilties," he said. " I myself derived no benefits," he said. ( Note he did not mention the benefit of his survival in an economic jungle. )
Breach of trust carries a maximum possible sentence fo five years in prison. The trial is scheduled to last through July. Siemens has acknowledged dubious payments of up to $2 billion in the wider corruption case uncovered last year.
The company, which makes everything from wind turbines to trams, agreed in October to pay a $317 million fine to bring an end to some legal proceedings in Germany related to the scandal.
Reference: Cleveland Plain Dealer, Nation and World, Business section, May 27, 2008 - newspaper
Special note: Siemens U.S. corporate offices are in New York City. They employ 70,000 with sales of 21,4 billion in the USA. Their total sales worldwide in 2006, was 107.4 billion dollars and employ 480,000 in 190 countries. ( Economic diseases travel far.)
( During the beginning of my sales career, I was told to put a bottle of good scotch whiskey in a shoe box and send it back to the purchasing agent while waiting for our appointment. I was told I would lose the account if I did not do it. I refused to do it and lost this major account but I knew that once I started the process, it would never end and it would be the birth of many economic sins. As President Roosevelt said, economic diseases are highly communicable. )
Anyone who has done business with others in the world , know that economic diseases are more universal in a global economic arena. What was once decentralized is now global in nature.
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