Business Ethics Extremes
Here is a great example of Sam Zell, the real estate mogul, being taken to task for the unethical behavior of the leaders of other corporations in an article called Rough Riders in the New Yorker:
A couple of years ago, Zell’s close friend Will Weinstein, a money manager who was teaching at the University of Hawaii, asked Zell to address a class on business ethics. Several of Enron’s leading executives were on trial at the time, for fraud and other crimes. Weinstein had opened the session to the public, and someone in the audience asked Zell whether, in the current environment, “where some seem to be doing almost anything to be profitable, does not the concept of ‘business ethics’ seem to be an oxymoron? And do you accept that there is a concept of greed? And how would you define it?”
Mr. Zell didn't like the fact he was being painted at one end of the spectrum without at the least the acknowledgment of the other end:
“Jesus Christ!” Zell replied. “I mean, would you like a pulpit as well? I mean, when does the indictment come out? I mean, are people in the business community different from you, or you, or you?” He pointed angrily at the questioner and others nearby. “C’mon! We’re talking about weaknesses and we’re talking about strengths! Are human ethics an oxymoron? I don’t think so. Neither do I think business ethics are an oxymoron. It’s real fun to take a shot at the business community. After all, those motherfuckers are getting all the money, right? But let me tell you something: I’ll put my work schedule against anybody you know, including you, and I work my ass off every day! The idea that somehow or other the business community is full of all these greedy characters—you should see the greed in teachers’ unions! You should see the greed in any political organization! Business is made up of a whole group of individuals, and within that group there are straight people, there are not-straight people, and then there’s a whole bunch of us in the middle, who some days are straight and some days we’re not.”
Weinstein looked alarmed. “You’re not honestly putting yourself in that middle category?”
“Oh sure, why not?” Zell replied. “St. Sam—that’s an oxymoron.”
But Mr. Zell hits it exactly. He works hard and deserves what he gets. His risk is greater than others. He understands that business ethics might be black and white, but context is not.





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