Some business people believe that honesty is merely an option, and changing that kind of attitude won’t be easy, according to former high-ranking government officials attending a University of New Hampshire forum last night.
Panelists split over whether corporate reforms must be initiated by government or companies, but all agreed that the financial collapses of Enron, Tyco and WorldCom, among others, were a result of dishonesty and a “it’s them not us” mentality.
“Companies have to establish a culture of ethics and compliance at every level,” said panelist and former Securities and Exchange Commission Chairman Harvey Pitt. “True reforms must, and in my opinion, can come only from the private sector.”
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