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For Almonte, the decision she made led to a rough life for her and her family,
as she was unable to find secure employment after the dust settled. She told
the Huffington Post that her decision was “essentially suicide.” Despite her
efforts, ‘robo-signing’ hasn’t been completely done-away with in the financial
industry, although JPMorgan Chase probably learned a valuable lesson.
5. GlaxoSmithKline
One whistleblower who ended up with a pretty significant payday
once the dust settled is Cheryl Eckard. Eckard brought to light
contamination issues at pharmaceutical manufacturing operations
run by GlaxoSmithKline, an international drug giant. Eckard was
awarded $96 million following an eight-year court battle, which
brought civil and criminal charges against GlaxoSmithKline. The
company agreed to pay the U.S. government a fine of $750 million
to settle.
The case revolved around a manufacturing plant in Puerto Rico,
where Eckard found that the company was producing drugs in a
non-sterile environment. GlaxoSmithKline was using water that had
been contaminated with microorganisms, and drugs were being
produced with inaccurate dose counts. Eckard went to the FDA after
attempts to take her concerns to the company’s leadership went
ignored. Although the ordeal with Eckard is behind them, the
company now faces new problems with alleged bribery of doctors in
Europe, being brought to light by another whistleblower.
7. Pfizer
Another international drug manufacturer, Pfizer came under fire in
2009 after John Kopchinski exposed the company for illegally marketing
off-label medications. The whole ordeal resulted in Pfizer paying a $2.3
billion fine, what was the largest single healthcare fraud settlement in
history. Pfizer had faced civil and criminal charges for selling Bextra,
Geodon, Zyvox, and Lyrica, all of which the company advertised for uses
other than what they were prescribed for.
After six years of court battles, Kopchinksi walked away with $51.5
million from his whistleblower lawsuit in 2009. After bringing attention to
Pfizer’s misconduct, he was fired in 2003, two years before the company
actually took the questionable products off of shelves. After the settlement
was handed down and Pfizer paid its fines, the company’s senior vice
president Amy Schulman released a statement that showcased the
company’s remorse.
“We regret certain actions taken in the past, but are proud of the action
we’ve taken to strengthen our internal controls and pioneer new
procedures,” she said.
SOCIAL RESPONSIBILITY & GOOD
GOVERNANCE
MULTI-LEVEL MARKETING
A system of selling in which one signs up other people to assist him,
and they, in turn, recruit others to help them . It is a system of
selling through many levels of distributors.
PYRAMIDING
Participants attempt to make money solely by recruiting new
participants into the program
MLM PYRAMIDING
• Legal Illegal
• Product Sales Recruiting
• Training Programs NO Training Programs
• Consumable, reasonably priced quality Few retails sales and high cost, slower
product moving products.
• Serves legitimate economic function No legitimate economic function
• Sponsoring; Recruitment is operational Benefits from recruitments
• Product consumption Recruitment
• Enormous effort to sell product Less Effort
• Product sold in Consuming public Consume internally in the organization
• Bonus are based on sales to final users Bonus entitlement are based on the
who are not member of the schme. goods absorb by members.
DIRECT SELLING ASSOCIATION OF THE PHILIPPINES
(DSAP)
Are there legitimate products
Is there an intent to sell product?
They con the public, making them believe that they are legitimate MLM.
Kinds of Competition
Monopoly
Oligopoly
Perfect Competition
Any person who is selling his goods and gives the general appearance of goods
of another.
Any person who, by any artifice or device, induces the false belief
Definition
Common Factors that create
Conflict of Interest
Commercial Bribe
Gifts
Commercial Extortion
When an employee demands
consideration from a person outside the
firm as a condition to intervene in favor of
that person or firm when transaction
occurs.
Things to Consider in Evaluating
whether Gifts are Unethical