Week 1 - Discussion 2

Week 1 - Discussion 2 - 1. Describe the corporate...

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1. Describe the corporate responsibilities that were violated in this scenario.  Many corporate responsibilities were violated in this scenario.  First, he persuaded his  board of directors to pay millions in rent for buildings owned by his family, and over $50  million to Mrs. Hill for her decorating services.  Board of directors is supposed to watch  over the CEO.  In essence, they could have told him that they will not support the  decision to show favoritism to others, but treat everyone equally, and with full  objectivity.  This would have prevented any investigation from the federal  government.  Second, he exploited others by having the branches open seven days a  week, and used his wife's decorating services to profit from them as well.  In reality, he  should have had separated the bank from his wife's business.  Because he failed to do  so, he faced consequences for his actions.  Third, he holds a real estate license, so he  knew how to get many branches open, and to work his employees beyond belief.  One 
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This note was uploaded on 03/11/2012 for the course LEG500 LEG500 taught by Professor Prof.dean during the Spring '11 term at Strayer.

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Week 1 - Discussion 2 - 1. Describe the corporate...

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