They treat their crooked bosses a little differently in China.
Former Chinese banking honcho Liu Jinbao, convicted yesterday of embezzlement, has two years to convince the authorities that he is a reformed man.
If he fails, he dies.
A court there yesterday sentenced Liu to death for embezzlement while he was president of the Hong Kong branch of the Bank of China.
The sentence was suspended and may be commuted to life imprisonment if Liu can convince the judges he's a changed man.
The scandal broke two years ago. Beijing is getting tough because it wants to take Bank of China public.
U.S. lawmakers, grappling with the recent wave of boardroom crime, may view the Chinese solution with interest.
Bernie Ebbers and Adelphia's John Rigas face tough sentences. But Martha Stewart spent just six months under house arrest and emerged with a billion dollars, renewed celebrity status and a gig on reality TV.
It's not much of a deterrent.
Would the threat of execution ? perhaps on a new reality TV show ? do better?
W. Michael Hoffman, executive director of the Center of Business Ethics at Bentley College, has an alternative: induct the worst crooks into a ``business Hall of Shame'' and publicize their crimes to make sure they're not forgotten.
Put Bernie on the wall of the post office.
Meanwhile, U.S. companies likely won't be moving CEO jobs to China as quickly as factory floor jobs any time soon.
http://business.bostonherald.com/bus...rticleid=97795
Former Chinese banking honcho Liu Jinbao, convicted yesterday of embezzlement, has two years to convince the authorities that he is a reformed man.
If he fails, he dies.
A court there yesterday sentenced Liu to death for embezzlement while he was president of the Hong Kong branch of the Bank of China.
The sentence was suspended and may be commuted to life imprisonment if Liu can convince the judges he's a changed man.
The scandal broke two years ago. Beijing is getting tough because it wants to take Bank of China public.
U.S. lawmakers, grappling with the recent wave of boardroom crime, may view the Chinese solution with interest.
Bernie Ebbers and Adelphia's John Rigas face tough sentences. But Martha Stewart spent just six months under house arrest and emerged with a billion dollars, renewed celebrity status and a gig on reality TV.
It's not much of a deterrent.
Would the threat of execution ? perhaps on a new reality TV show ? do better?
W. Michael Hoffman, executive director of the Center of Business Ethics at Bentley College, has an alternative: induct the worst crooks into a ``business Hall of Shame'' and publicize their crimes to make sure they're not forgotten.
Put Bernie on the wall of the post office.
Meanwhile, U.S. companies likely won't be moving CEO jobs to China as quickly as factory floor jobs any time soon.
http://business.bostonherald.com/bus...rticleid=97795
