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Unformatted text preview: Fannie & Freddie Take over
"Alternatively, the Treasury could recapitalize the firms via a new class of shares with priority over the existing shareholders. Then, it might shut off dividend payments to common and preferred shareholders in order to preserve capital in the firms." "Such an approach could help to limit taxpayer losses and moral hazard or the risk that a federal bailout would spur more risky behavior"
From "Takeover May Help Homebuyers, Hit FanFred Shareholders" Wall Street Journal OnLine, by Jessica Holzer September 6, 2008 7:26 p.m. Today (Lecture #4)
1. 2. 3. 4. 5. Merck & River Blindness Know Your Own Values Be Guided by Your Values Spot the Red Flags Decide What Is Right (wrapup) Take Action to Do the Right Thing Step Four: Deciding What is Right
V. A GLIMPSE INTO ETHICAL THEORIES Consequentialist Theories: Utilitarianism Nonconsequentialist or Deontological Theories Virtue Ethics: The Role of Character Moral Relativism Morality is a based on the beliefs of a particular society or community No universal morality Morals are a function of specific societies/organizations Business as a "Game" Today
1. 2. 3. 4. 5. Merck & River Blindness Know Your Own Values Be Guided by Your Values Spot the Red Flags Decide What Is Right Take Action to Do the Right Thing Defining Moments Decisions form the basis of character You are what you do Choices determine: Who you are Who we are Role of company in society Merck - River Blindness What is the right thing to do? Merck River Blindness 1. 2. 3. 4. 5. 6. 7. 5:00 to discuss Stakeholder Groups: Merck Doctors Merck Shareholders Foreign Governments Population of US citizens American Consumers Villages That do Not get the Drug Merck Management Merck River Blindness Mectizan Program $200 Million Research Produced free forever Developed publicprivate partnerships to distribute the drug 250 Million doses since 1987 30 Mill. People/ 18 Mill Children Worldwide Other Benefits Merck's Values Our business is preserving and improving human life We are committed to the highest standards of ethics and integrity We are dedicated to the highest level of scientific excellence and commit our research to improving human and animal health and quality of life We expect profits, but only from work that satisfies customer needs and benefits humanity Defining Moments Decisions form the basis of character You are what you do Choices determine: Who you are Who we are Role of company in society ...
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