...Occupy Wall Street Movement Holly Hyder Professor Zimmerman Business Ethics July 28, 2013 Occupy Wall Street Movement In the fall of 2011 there began a movement in America. This movement would forever be known as Occupy Wall Street. Taking over Liberty Square in the Manhattan Financial District in New York, a group of Americans began a nonviolent protest over the economic state in America. One of the stances that Occupy Wall Street held was that 99% of American’s economic well-being was controlled by the top 1% of Americans. This economic truth would no longer be accepted by this group of Americans. This group also called for solidarity inside of the 99% of Americans defining this in a set of principles. These principles involved a direct and transparent engagement of participatory democracy, exercising responsibility on collective and individual levels, empowerment of each other against all oppression, redefining how labor is valued, the sanctity of individual privacy, that education is human right, and that all knowledge, technologies, and culture be open to free access, creation, modification, and distribution (Stone, 2011)). Together in this movements solidarity they came together in New York to speak out about the injustices that they have suffered at the hands of corporations. These facts were that homes had been placed in foreclosure without the original mortgages, bonuses have been given to executives after corporations have received bail outs from taxpayers, the...
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...Occupy Wall Street Movement was started from a group of activists, students and protesters that really want to change the world and have their voice be heard. (2011, Kroll) Many of these activists are residents of the Unites States, but have lived in other countries and have experienced many protests within their country. As this group formed they felt the need to better understand why the United States’ economy was in a state of flux. They would question the inequality of salaries of many major companies. They also are concerned about how the financial industry or banking institution is corrupt in spending money. Occupy Wall Streets’ slogan is “We are the 99%,” referring to that most of the wealth in U.S. is among the top 1% compared to the other 99%. The other 99 percent are those that may not have jobs, living below the poverty line or those that are middle class. In reality the CEO’s or banking, financial institutions, etc. are accumulating most of the wealth in this country. Many would think that it’s because of unregulated industries that allow improper global trading or unregulated amounts of monies dispersed between the government and protected companies. Upon further analysis of the movement, we will discuss the moral and economic implications of the movement to try to better understand the reasoning behind the passion of the protestors. Months before the protest in Zuccotti Park there were a small number of protestors discussing dissatisfaction of many people losing...
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...across the country some 3 million people — the equivalent of 90 percent of Taipei City residents — are without a home. Support for the "Occupy Wall Street" movement is growing rapidly, as protesters across the United States and around the world make a ruckus about the uneven distribution of wealth and the way the rich use their money to make more money. Target No. 1 in the protests is the epitome of capitalism: the banking industry, and the governments that bailed out the banks with taxpayers' money during the last financial crisis. The protesters began to occupy Zuccotti Park at the end of Wall Street in mid-September. When we visited in October the number of blue tents pitched in the park was still growing. To me the scene looked like a disaster zone. Sitting in front of a glitzy investment bank, a shabbily dressed homeless man held out his hand for a cigarette, while warning with a threatening look in his eyes that he does not want to be photographed. But just around the corner white-collar workers sporting fashionable neckties pay the equivalent of NT$ 1,500 for a sandwich lunch at Trinity Place bar and restaurant. Housed in a remodeled old bank building, the restaurant is famous for its 70-centimeter thick, 35-ton bank vault doors that deliberately create the impression of a bastion of iron. Which impression is the true America? And why do people harbor such deep-seated anger? Civil rights activist Martin Luther King moved the entire world with his "I have a dream" speech...
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...Occupy movement From Wikipedia, the free encyclopedia Jump to: navigation, search This article's use of external links may not follow Wikipedia's policies or guidelines. Please improve this article by removing excessive or inappropriate external links, and converting useful links where appropriate into footnote references. (June 2013) Occupy movement Part of response to the late-2000s financial crisis and subprime mortgage crisis and the impact of the Arab Spring Combination of October 2011 global protests.jpg Worldwide Occupy movement protests on 15 October 2011 Location Worldwide (List of locations) Methods Occupation Non violent protest Civil disobedience Picketing Demonstrations Internet activism General strikes Direct action Arrests/Injuries/Deaths Arrests: 7,700+,[1] Injuries: 400+,[2] Deaths: 32[3][4][5][6][7] The Occupy movement is an international protest movement against social and economic inequality, its primary goal being to make the economic and political relations in all societies less vertically hierarchical and more flatly distributed. Local groups often have different foci, but among the movement's prime concerns is the belief that large corporations and the global financial system control the world in a way that disproportionately benefits a minority, undermines democracy and is unstable.[8][9][10][11] The first Occupy protest to receive wide coverage was Occupy Wall Street in New...
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...Memo addressing core issues on topic of Ethics in Finance Winter 2011 Hsiu Chang Ethic is useful because it makes business stable and predicable. In a game, a cheater who is not caught will continue to reap huge rewards. However, if the trend continue, it will encourage other players to cheat or leave the game because they are being driven out of business. If a business operator always has to wonder if the other side is playing by the same rule, if a customer constantly wonder if the vendor is overcharging for the invoice, then business slow down, becomes inefficient. However, many cheaters are not caught or punished. "Business Ethics" is the third episode of the fifth season of the television series The Office. One of the female purchasing officer has been sleeping with a vendor in order to get discount for the entire purchasing department, and Outback Steakhouse coupons. When this is discovered, the head of the company turned a blind eye because it is good for the balance sheet (Wikipedia, 2011). Having good ethic provides a clear conscience, and if there was an ethical problem, shared the advantage gained by cheating with the entire team will once again clear the conscience. Ethic in finance is important because it will provide a clear picture of the company. The leader of the company cannot see where the company can go if they do not know where the company is. However, accountant in a non-public company works for the leader and this agents’ fiduciary duty...
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...these incidences are much more profound and anchored in historical aspects the most astounding being racism and oppressive legislation proffered since the days of slavery and Black oppression. I will deliberately use the ‘Black and White’ epithet so as to traverse my arguments. The years in between the Occupy Wall...
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... Especially, the TV-advertisement has caused a lot of anger and frustration among their customers, because of its controversial images. So much frustration that some customers even have decided to leave the bank for another bank. The main subject is that Danske Bank is trying to create a “false” image of the bank. Some even think that its hypocritical and that Danske Bank promises more than they can hold. This has caused a lot of disturbance on e.g. Danske Bank’s Facebook page and one wall post caught more attention than any of the other complaints. Thomas Moos Jensen wrote: “I want to share this constructive input: "It is rare that an advertisement can get me so angry, but the new campaign from the Danish Bank is simply like being kicked in the balls. "A new normal demands new standards", preach it with an image, which rather resembles an advertisement for Amnesty International, together with glorified images of windmills, gay love and, God help me, also Occupy Wall Street! Hello, banking types, you want us to believe that you now would be a kind of society beneficial institution rather than a revenue focused business? And do you think we have already forgotten that you, as part of the banking system, are one of biggest villains in the situation the world is in now? You could start with an advertisement with the slogan "Forgive us", followed by a highly reduced paycheck to the people whose greedy decisions and frayed morality is a major part of the...
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...discussed, especially on the Chinese authorities and government's attitude towards it, moreover and more importantly, the way of how Weibo is being censored is explained. According to previous theories, internet cannot be regarded as a safe and free place for ideas and liberated speeches, Weibo is a good and exaggerated example as it is born in China--a nation long been considered to be less democratic. But is it really true? Was the limit of speech and media censorship really necessary? How does China want to assert them? Introduction As the 'Arab Spring' had cause enormous shake in the Middle East and north Africa, we had witnessed other great overthrows of regimes, and internet undoubtedly participated as a important role in the movement. When another civic protest took place in numerous western countries, we can also sense the huge power emanated by the social networks. The Chinese government was well aware of this, and they had foreseen the danger and unrest that these social networks could bring, 2 years earlier Twitter was officially shut sown---possibly because of the riot in Xinjiang one month before the blocking--and Weibo appeared as a Chinese replica to replace it. As theories have been given suggesting that internet is not a insurance for democracy of freedom of speech, Weibo is an exaggerated example to explain them. This is because the Chinese government is more careful with these new inventions and is stricter when they are facing dissidents. It is...
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...Shareholders Watchdog, Inc. 777 Wall Street New York, NY 10005 December 7, 2011 RE: Is CEO Compensation Fair? Dear employee, Accompanying this letter is our completed report that discusses the issue of the fairness of current CEO compensation. Although there are two sides of this argument, recent legislation and regulations for reform tend to support those who believe it is unfair. We have evaluated the current standards of CEO compensation and examined why both sides think they should prevail. There are some advantages that strongly support CEO’s huge salaries, including the following: * Provides incentives and motivates the CEO to obtain or surpass corporate objectives * Retains key-value leaders for the long-term, resulting in consistent corporate success * Creates a strong CEO confidence for him/her to reinvest in the corporation (bonds) Our overall research indicates that CEO compensation does not reflect actual performance in most cases. Many CEO’s are grossly over compensated (including stock options, bonuses, hedge funds, and other benefits). The “Golden Parachute” guarantee adds insult to injury. Based on our research, conducted from the UNLV Library periodicals database and online sources, we recommend the following: * Require corporations to adhere to sections 951, 953, 955 and 956 of the Dodd-Frank Bill * Maintain a collective (“Esprit de corps”) work force environment for all employees * Consult third party professional...
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...Daniels Fund Ethics Initiative University of New Mexico http://danielsethics.mgt.unm.edu Best Buy Fights Against Electronic Waste INTRODUCTION Although Best Buy has not been in business as long as other established brands, the company is a well-known name both within and outside of the United States. As the largest consumer electronics retailer in the world, it ranks number 72 on the Fortune 500. To maintain its competitive advantage against rivals in specialty electronics, Best Buy is engaging in competitive pricing strategies, international expansion, and the targeting of a younger demographic. In addition to discounted and high-quality products, Best Buy became known for its customer-centered approach and sustainable outreach. After realizing the importance of sustainability to its customers, Best Buy implemented an extensive recycling program. In the process, Best Buy earned itself a name as a socially responsible company. The company also adopted programs and systems to provide flexibility and aid to its employees. This case provides a brief history of Best Buy, including details on its expansion and the models it implemented to become a success. Next, we discuss Best Buy’s vision, along with the actions the company is taking to turn its vision into a reality. We briefly analyze Best Buy’s community outreach programs and look at its large-scale environmental initiatives, particularly those regarding energy savings and recycling. Finally, we examine some...
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...PART 2 The Global Marketing Environment CHAPTER 2 The Global Economic Environment Case 2-1 The Global Economic Crisis I n his 1997 book One World, Ready or Not, William Greider described the United States as “the buyer of last resort.” Greider explained that, for many years, the United States was the only nation that was willing to absorb production surpluses exported by companies in Europe, Asia, and Latin America. Greider asked: “Who will buy the surpluses when the United States cannot?” The conventional wisdom has long held that strong spending by consumers in other nations would keep the world economy humming. However, by 2008, Greider’s question was taking on a new urgency and the conventional wisdom was being tested. An economic crisis that had its roots in lax subprime mortgage lending practices began to spread around the globe. In the United States, where the crisis began, economic misery was widespread: The housing market collapsed, real estate values plummeted, credit tightened, and job growth slowed (see Exhibit 2-1). As the price of oil passed the $100 per barrel benchmark, the average price of a gallon of gasoline rose to $4. American consumers were, indeed, less willing and less able to buy. However, the crisis was not confined to the United States alone. Consumer-goods exporters in Asia, which Exhibit 2-1: The bursting of the global real estate bubble was only one aspect of the worst recession in decades. The ripple effects from the economic...
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...THE WAR OF THE WORLDS FINAL WHITE Barré Lyndon December 18, 1951 FADE IN: 1. H. G. WELLS' BOOK We see the colorful cover, then the first page. A VOICE with a Wells-like accent quotes the opening words: VOICE No one would have believed, in the first decades of the twentieth century... DISSOLVE: 2. SPECIAL EFFECT - SKY FULL OF STARS The planet Mars shows just above the spires and roof- tops of a city on the horizon. VOICE (Continuing) ...that human affairs were being watched...
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...CFA Institute Fundamental Indexation Author(s): Robert D. Arnott, Jason Hsu and Philip Moore Source: Financial Analysts Journal, Vol. 61, No. 2 (Mar. - Apr., 2005), pp. 83-99 Published by: CFA Institute Stable URL: http://www.jstor.org/stable/4480658 . Accessed: 24/02/2014 01:32 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp . JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. . CFA Institute is collaborating with JSTOR to digitize, preserve and extend access to Financial Analysts Journal. http://www.jstor.org This content downloaded from 134.117.10.200 on Mon, 24 Feb 2014 01:32:09 AM All use subject to JSTOR Terms and Conditions FinancialAnalysts Journal Volume 61 . Number 2 ?2005, CFAInstitute X Fundamental Indexation Robert D. Arnott,Jason Hsu, and PhilipMoore to A trillion-dollar industryis basedon investingin or benchmarking capitalization-weighted the This literature indexes, eventhough thefinance rejects mean-variance efficiency suchindexes. of measures whether stockmarket indexesbasedon an arrayof cap-indifferent study investigates of than...
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...in the United States; it is the submarket that the Grand Central office market is located and upon which this analysis is based. Other neighborhoods within the Midtown submarket include: Columbus Circle, Penn Plaza/Garment District, Plaza District and Times Square (Kindly refer to Appendix Nos.1 & 2). The Grand Central office market straddles in both Community Board #5 and Community Board # 6, the planning bodies of the City that overseas development and other municipal related concerns. According to the Grand Central Partnership, the Business Improvement District, the boundaries of Grand Central area can extend as far East as Second Avenue and as far West as Fifth Avenue. On the Northside the district extends to 54th street and as far South as 35th street....
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...quickly enough to prevent a swirl of gritty dust from entering along with him. The hallway smelt of boiled cabbage and old rag mats. At one end of it a coloured poster, too large for indoor display, had been tacked to the wall. It depicted simply an enormous face, more than a metre wide: the face of a man of about forty-five, with a heavy black moustache and ruggedly handsome features. Winston made for the stairs. It was no use trying the lift. Even at the best of times it was seldom working, and at present the electric current was cut off during daylight hours. It was part of the economy drive in preparation for Hate Week. The flat was seven flights up, and Winston, who was thirty-nine and had a varicose ulcer above his right ankle, went slowly, resting several times on the way. On each landing, opposite the lift-shaft, the poster with the enormous face gazed from the wall. It was one of those pictures which are so contrived that the eyes follow you about when you move. BIG BROTHER IS WATCHING YOU, the caption beneath it ran. Inside the flat a fruity voice was reading out a list of figures which had something to do with the production of pig-iron. The voice came from an oblong metal plaque like a dulled mirror which formed part of the surface of the right-hand wall. Winston turned a switch and the voice sank somewhat, though the words were still distinguishable. The instrument (the telescreen, it was called) could be dimmed, but there was no way of shutting it off completely. He moved...
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