The Business Ethics of Benjamin Franklin – Truth, Sincerity, And Integrity

From the Project Gutenberg free book, The Autobiography of Benjamin Franklin –

Before I enter upon my public appearance in business, it may be well to let you know the then state of my mind with regard to my principles and morals, that you may see how far those influenc’d the future events of my life. My parents had early given me religious impressions, and brought me through my childhood piously in the Dissenting way. But I was scarce fifteen, when, after doubting by turns of several points, as I found them disputed in the different books I read, I began to doubt of Revelation itself. Some books against Deism fell into my hands; they were said to be the substance of sermons preached at Boyle’s Lectures. It happened that they wrought an effect on me quite contrary to what was intended by them; for the arguments of the Deists, which were quoted to be refuted, appeared to me much stronger than the refutations; in short, I soon became a thorough Deist. My arguments perverted some others, particularly Collins and Ralph; but, each of them having afterwards wrong’d me greatly without the least compunction, and recollecting Keith’s conduct towards me (who was another free-thinker), and my own towards Vernon and Miss Read, which at times gave me great trouble, I began to suspect that this doctrine, tho’ it might be true, was not very useful. My London pamphlet, which had for its motto these lines of Dryden:

“Whatever is, is right. Though purblind man
Sees but a part o’ the chain, the nearest link:
His eyes not carrying to the equal beam,
That poises all above;”

and from the attributes of God, his infinite wisdom, goodness and power, concluded that nothing could possibly be wrong in the world, and that vice and virtue were empty distinctions, no such things existing, appear’d now not so clever a performance as I once thought it; and I doubted whether some error had not insinuated itself unperceiv’d into my argument, so as to infect all that follow’d, as is common in metaphysical reasonings.

I grew convinc’d that truth, sincerity and integrity in dealings between man and man were of the utmost importance to the felicity of life; and I form’d written resolutions, which still remain in my journal book, to practice them ever while I lived. Revelation had indeed no weight with me, as such; but I entertain’d an opinion that, though certain actions might not be bad because they were forbidden by it, or good because it commanded them, yet probably these actions might be forbidden because they were bad for us, or commanded because they were beneficial to us, in their own natures, all the circumstances of things considered. And this persuasion, with the kind hand of Providence, or some guardian angel, or accidental favourable circumstances and situations, or all together, preserved me, thro’ this dangerous time of youth, and the hazardous situations I was sometimes in among strangers, remote from the eye and advice of my father, without any willful gross immorality or injustice, that might have been expected from my want of religion. I say willful, because the instances I have mentioned had something of necessity in them, from my youth, inexperience, and the knavery of others. I had therefore a tolerable character to begin the world with; I valued it properly, and determin’d to preserve it.

I find it difficult to understand why more people particularly in the world of business don’t read Franklin’s Autobiography. It’s a relatively brief book. I can read it easily in a couple of day in my spare time. It’s an easy read. It’s very straightforward writing, a writing style in which you are approached as if you were an old friend.

It is a multitude of good books all in itself. It’s an English book for in it he explains how to develop a writing style and improve it. It’s a book of business advice, explaining how to make a good start, how to maintain a business and how to retire from it. It’s a self help book, laying out a plan of perfections set up daily for the course of a year. It’s a book of politics, where one can learn how to move with assurance through the hallways of power. It’s a community development manual in which the first civic booster in the United States explains how it’s done. It’s a book of science, explaining how to think and how to get results. And it’s possible to keep on going explaining over and over again how it applies to different areas of learning.

In the book we see the beginnings of those attitudes, those thought processes, now considered to be quintessentially American.

It’s worthy of any person’s time.

James Pilant

Foreclosure, Day 19;News of Possible Freeze? (via Angelinem’s Blog)

Way back in February, the President was talking about a foreclosure freeze in the hardest hit states.

When did this kind of talk disappear? What happened to the President?

Apparently foreclosure freezes was not a taboo subject just a few months ago.

My thanks to Angelinems’ Blog!

James Pilant

Foreclosure news to the forefront today. President Obama is talking about some kind of freeze on foreclosures in the states hardest hit, California being one. This should be interesting…buy us some time. I found another interesting link in the Orange County, CA news today:  http://mortgage.freedomblogging.com/2010/02/17/foreclosures-seen-for-many-years-to-come/26543/ For whatever reason IndyMac did not call us again today. Two days in a row now … Read More

via Angelinem’s Blog

I Sent The Following To The Arkansas Attorney General’s Office.

Subject -Ohio Attorney Generaly Press Release
Details:

Cordray: Refiling Affidavits is an Insult to the Justice System

I don’t usually print press releases, but I REALLY like this one!

From the Ohio Attorney General Web Site –

COLUMBUS, Ohio) — In response to Wells Fargo’s statement acknowledging that it “made mistakes” and that affidavits in 55,000 foreclosures filed by the bank did not “adhere” to the law, Ohio Attorney General Richard Cordray offers the following statement:

“The big mortgage servicers and financial firms continue to demonstrate their belief that they do not need to play by the same rules as everyone else who uses our court system. The suggestion by Wells Fargo and its colleagues at several other national firms that they can cure fraudulent testimony by simply refiling new affidavits and continuing to proceed toward foreclosures shows they do not recognize the seriousness of the problem they have created. There is no simple ‘do-over’ for false testimony that will be likely to avoid sanctions and penalties imposed by the courts. Their brazen efforts to minimize their financial exposure by sweeping these problems under the rug are an insult to the justice system in this country. These disclosures by Wells Fargo will now become the focus for a new prong of our on-going investigation.”

Earlier this month, Cordray filed a lawsuit against GMAC for issuing false affidavits in many Ohio foreclosure cases. He has taken a hard-line approach with national loan servicers operating in Ohio in the wake of the foreclosure crisis. In July 2009, Ohio was the first state to file a lawsuit against a loan servicer for violating the state’s consumer laws. Since then, two other cases have been filed in addition to the case against GMAC.

Okay, guys, there it is. I’ve been talking about it for weeks. This is fraud. It’s not mishandled paperwork. It’s not routine. It’s not something that “wouldn’t have changed the outcome in the vast majority of cases.” It’s illegal. It’s lying to the court. It’s telling Judges what you know to be untrue on oath.

The Ohio Attorney General has the guts to get out there and say it. The President won’t. The Wall Street Journal won’t. The Treasury department won’t.

But I have almost from the beginning.

It’s time for a foreclosure freeze, a moratorium until the industry gets its house in order. It’s time for action not just in Ohio but all over the fifty AND the federal government.

The American people have a right to believe that there is one type of law for all people be they in the banking industry or other citizens.

Let us go forward as a nation not just Ohio and punish these criminal acts.

James Pilant

Bayer and The Bees (via Your Daily Dose: The Ethics Behind Pharmaceutical Marketing )

This is a fine business ethics essay from my friends at “Your Daily Dose” in this case, Christine. (If you are reading this, Christine, I will be happy to use your whole name, should you desire it.)

The writing is clever. The information is interesting. The business ethical question dead on point.

Doesn’t get any better than that!

James Pilant

Bayer and The Bees So when I was in high school, my physical science teacher explained to a classroom of generally disinterested students the phenomenon of Colony Collapse Disorder: or the dying off of our world's honeybees. The idea is simple: without honeybees, there is decreased pollination. Without pollination, there are fewer plans….Continue up the steps of the food chain until you get to us. No more humans! The catastrophe is caused the worldwide decline in … Read More

via

Robo Signing Began With Debt Buyers

From the St. Louis Dispatch –

When Michael Gazzarato took a job that required him to sign hundreds of affidavits in a single day, he had one demand for his employer: a much better pen.

“They tried to get me to do it with a Bic, and I wasn’t going – I wasn’t having it,” he said. “It was bad when I had to use the plastic Papermate-type pen. It was a nightmare.”

The complaint could have come from any of the autograph marathoners in the recent mortgage foreclosure mess. But Gazzarato was speaking at a deposition in a 2007 lawsuit against Asset Acceptance, a company that buys consumer debts and then tries to collect.

His job was to sign affidavits, swearing that he had personally reviewed and verified the records of debtors – a time-consuming task when done correctly.

Sound familiar?

That’s right. This brilliant idea was thought up by debt collection agencies, the ones that buy up debts for pennies on the dollar and then sell them back and forth trying to make a buck.

Now, all we have to do is figure out what incredible genius thought you could use the same practice with mortgages.

Mortgages are a different ball park. In the United States property cannot change hands without a written contract. Further, land is surrounded by laws and guarantees dating back centuries. Robo signing on unsecured debts like credit cards is probably pretty stupid but robo signing on mortgages is just asking for hard core exciting trouble and they are getting it.

Hold on to your hats, this scandal just keeps getting better by the day!

James Pilant

How To Use Research To Change Policy!

I ran across this on the internet. In Australia they do what’s called jump racing. It has been controversial for many years. The public opposes it by high majorities but after the last series of scandals, the racing industry made cosmetic changes and in that manner common to all industrial operations all over the world announced that everything was fixed.

Well, they didn’t fix it. So, Animals Australia created this report.

WARNING – Graphic Images!

This is devastating. It’s powerful. It’s incredible. This is how the internet, advocacy, policy making, journalism, intelligence and solid hard work come together to change the way things work.

Before the internet is divied up into corporate pie, there is still time for this kind of activism, telling truth to power.

James Pilant

It’s Scholarship Scam Time!

From the Kansas City Star –

Generally, be wary of scholarship pitches that involve application fees, scholarship matching services that guarantee success and sales pitches that are disguised as financial aid seminars, said Mark Kantrowitz, publisher of FinAid ( http://www.finaid.org).

Kantrowitz said he’s been seeing more loan scams that involve advance fee payments. The lure is an unusually low-interest educational loan, with the requirement that you pay a fee to receive the funding.

Of course, after you pay, the loan never materializes. Legitimate loans, on the other hand, deduct the fees from the disbursement checks.

Here are three variations of tuition scams to watch for, according to FinAid:

•Scholarships for profit: This type of fake program draws thousands of applications for scholarships and charges fees of $5 to $35 for processing. The promoters actually pay out a scholarship or two and take a hefty profit on the rest of the money. Your odds of winning the lottery are better.

•Eye on the prize: In this case, you’re notified that you’ve won a scholarship worth thousands of dollars, but you’re required to pay a disbursement fee or the taxes before the prize is released.

•The match game: Be wary of scholarship matching services that guarantee you’ll win money or they’ll return your funds.

I thought I would pass it along. Are the scammers increasing in number or is it just in reach? Are there not so many, but with computers and modern communications they can run many more scams simulaneously?

I don’t know. Maybe some of both.

Whenever you are in trouble and, right then, right there, on television or on the computer or on a roadside sign, the miraculous answer appears, it probably isn’t the answer. I am very sorry to have to tell you that.

It’s not as if the world wasn’t cruel enough.

James Pilant

The Legacy Of An Inspirational Teacher Is Felt Throughout The Ages.

Sarah Dunant writes about two teachers that inspired her.

This is her concluding paragraphs. I recommend you read the whole thing. I believe in the importance of teaching and I am a lecturer and story teller. It would be a great compliment to me should one of my students find me inspirational. Well, read.

From the BBC –

Of course, every generation tends to view the past through rose-coloured lenses as they grow older. The importance of teachers in children’s lives is vital whatever moment in history you pick. Both of my daughters have had inspirational teachers, women and men who have cared for them emotionally as well as academically and have taught them as much about life as about learning. Indeed, one could argue that 50 years after feminism, both boys and girls have an even greater need of inspired teaching. Boys to handle the pressure that girls’ success has brought to their own educational journeys, and girls to combat an increasingly vicious culture which equates celebrity with opportunity, and sexual availability with independence. To get the other side of the story, kids need to hear about life from adults they can trust. And for their teenage years at least, the views of their parents often don’t cut the mustard.

The debate about education will, course, never end. How to ensure equality of opportunity? How far testing consolidates knowledge or just destroys curiosity? How to design a curriculum that leaves room for spontaneity and creativity for both pupils and teachers? And how to get away from the tyranny of those damn league tables?

I couldn’t figure out what a league table was,  so I looked it up. From wikipedia –

A league table is a chart or list which compares sports teams, institutions, nations or companies by ranking them in order of ability or achievement. In the United Kingdom, many public-sector industries, including hospitals, compete in league tables. It is complained that the ranking of England’s schools to rigid guidelines that fail to take into account wider social conditions actually makes failing schools even worse. This is because the most involved parents will then avoid such schools, leaving only the children of non-ambitious parents to attend.

Vote For A Hero Today!

CNN is currently holding voting for heroes. They have created a panel which has selected ten people who have distinguished themselves.

You go here to vote and assess the candidates.

This is part of the story of one of the candidates –

Magnus MacFarlane-Barrow was enjoying a pint at his local pub in the Scottish Highlands when he got an idea that would change his life — and the lives of thousands of others.

It was 1992, and MacFarlane-Barrow and his brother Fergus had just seen a news report about refugee camps in Bosnia. The images of people suffering in the war-torn country shocked the two salmon farmers, who’d visited there as teenagers and remembered the warmth of the Bosnian people.

“We began saying ‘Wouldn’t it be wonderful if we could just do one small thing to help?’ ” MacFarlane-Barrow says.

After talking it over, the two men took a week off work and collected food, clothing, medicine and blankets. They loaded everything into an old Land Rover, drove to Bosnia to deliver it and returned to Scotland.

“I came back here thinking that I did my one good deed and it would be back to work, but it [didn’t work] out like that, ” he says.

When they arrived home, the brothers found an avalanche of goods that people had continued to donate while they were away.

I won’t spoil the rest of it by giving away too much. Go see the kind of people we can be when we’re not trying to live by money values.

James Pilant