Thursday, December 15, 2005
Stupid Idea Watch
Years before Dennis Kozlowski was sent to prison for huge frauds at Tyco, the company had agreed to pay New Hampshire, its former home, $5 million to settle allegations of financial misconduct.
Now the state is using that money to start an investor education program, with the help of former CNN financial editor Myron Kandel. The money will be used as an endowment to pay for the project.
Gov. John Lynch, Secretary of State William Gardner, Kandel and other officials released an outline of the program Wednesday.
Gardner said he hoped New Hampshire's effort to teach future corporate leaders ethics and to educate investors will serve as a model for the nation.
Kandel said he hopes to start next spring with a blitz of forums and seminars at the state's colleges featuring national government and business leaders and the media. The discussions will look at how corporate scandals can be avoided in the future, he said.
Idiots. Scandals only happen because investors and business people are "uneducated" about the consequences of their actions. WHAT A WASTE OF MONEY!! Teaching corporations NOT to steal.