Lehman Brothers was viewed as one of the titans on Wall Street and was the fourth biggest investment bank in the United States at the time of its bankruptcy. However, the company itself had much humbler origins. Lehman was founded in Montgomery, Alabama in 1844 as a general store run by three German immigrants, Henry, Emanuel and Mayer Lehman. This quiet general store evolved into one of the biggest banks in the United States and had survived through various wars and market panics over its 164 year history. Then suddenly over one weekend Lehman stopped existing all together filing for bankruptcy on September 15th 2008. Continue reading →
I know, cliche to use a movie titled “Wall Street” in a blog post about comparing a film to business ethics. But I couldn’t help but draw the direct ‘shareholder wealth vs stakeholder’ analogy to the 1987 blockbuster hit. The movie portrayed a wall street millionaire/billionaire, corporate-raiding Gordon Gekko, and the journey of a young stock broker named Bud Fox.
To me, the obvious choice of media material that screams business ethics is the popular movie, “Wall Street.” It also happens to fit right in with the discussion we have been having recently about stocks and corporate information with the Enron and Lehman Brothers cases. Charlie Sheen plays the main character, Bud Fox, in the 1987 film. Fox is a young stockbroker who finds himself working with Gordon Gekko, a major actor on Wall Street, after yearning to get an in with him for years. Right off the bat, business ethics is evident, when Fox uses inside information to get Gekko’s attention.