Lehman Brothers: Angry staff Sell Off Company Memorabilia on eBay

[Former Member]

Everybody in the coffee house, I hope you all doing great, But something is horrible happening at Lehman Brothers.

Checkout the following link

[http://www.freerepublic.com/focus/f-news/2084149/posts]

I think this is really a bad idea to sell company stuff, and the agitation in this way is not justified. I am wondering how all this happened with the blink of an eye.

Past March they claimed a record $4.2 billion profit, they even gave good bonuses to their employees and suddenly in this quarter the bank is going through un-predictable circumstances.

What do you think about SOX ? when a company achieved SOX compliance in year 2007 and in very next year they are out of business. This is something which may compel SOX and other laws to be more obligatory in future.

What do you all think about it ?

Regards,

Amol Bharti

[matt]

That link is blocked by the corporate firewall.

[Former Member]

well in that case, you can go to google, copy and paste the link given as search string and on getting the results click on the search results"Cached" link and you will bypass your corporate firewall.

"This is not corporate firewall destruction but Right of Information"

Best Regards,

Amol Bharti

[matt]

Nope. They've blocked the cache as well. Smart cookies in security, you know.

OK, I could check it on my phone, but where's the fun in that?

[Former Member]

if you have a company called ABC, and you make billion's of profit in first quarter and give good bonus to employees but by third quarter you go bank corrupt and your employees start selling coffee mugs on ebay what would be more funnier than this for XYZ at the same time XYZ would try to learn from ABC and will try not to make the same mistake ABC did.

So it is funny as well as a question about SOX. If you remember this happened with Enron and wordcom a few years back, only then SOX came into existence. But what is going to come next ?

that was my question all about. It may be an opportunity for SAP as well to develop new GRC Applications or include new functionality considering SOX or any new laws which may be introduced in future to save financial organizations as disaster recovery.

Regards,

Amol Bharti

[marilyn_pratt]

I propose taking this topic and expanding on it. If you see a white space for GRC applications to mitigate financial disasters it would make very interesting reading.

Make a comparison between "as is" and "to be" and you've got yourself a GRC process improvement.

Bet there would be a great many eyes and ears on such contents beyond coffee corner.

Do it well and I can promise to garner this some attention.

But it also requires a bit of grunt work: really understanding the offerings and capabilities that already exist in the product as well as those enhancements and extensions needed.

Are you or others up to the challenge?

thanks for starting this conversation.

[Former Member]

as long as people like [Richard Severin Fuld Jr.|http://en.wikipedia.org/wiki/Richard_S._Fuld,_Jr.] are able to gain influential positions in our society and as long as they are allowed to define ethical standards in our economies we can forget to tackle GRC issues with the support of software. what was Enron good for, what are SOX, Basel II and similar regulations worth as long as we allow the greediest of the greedy individuals to lead the economies' largest entities and if we then even allow them to get away without taking any responsibility by letting them simply declare themselves completely unsuspecting of any events to come?

much more than new software solutions which usually mostly bother the simple employee ('a 70$ bill for inviting Mr. X for dinner? Uh-oh. we can't accept that, you know, SOX, blah-blah...) or 700 billion dollar presents to only save the bonuses of the greedy corporate leaders('small number of already-absurdly-wealthy old white guys' as someone put it these days) we need a reassessment of social, ethical, juridical standards who have the individual's welfare as their goal and not some corporation's welfare or the welfare of some stock exchange's index.

Here's a nice reading, [Need a Job? $17,000 an Hour. No Success Required.|http://www.nytimes.com/2008/09/18/opinion/18kristof.html?_r=1&em&oref=slogin]

anton

[marilyn_pratt]

You make an excellent, albeit painful point: That sustainablie business isn't a product of software solutions but it is or should be the goal of global bodies. We should be questioning how much "corporate" needs to be in social responsiblity. Thanks for the link to the article. Such behaviors make the work of creating corporate accountability harder.