Pay Attention to Sharpness and Not Dullness
Unfortunately, the world is not black and white. Senior managers spend most of their life in the gray regardless of their responsibility and that can be a dangerous and hard place to be.
—Stephen Richards
There are a surprising number of top executives who have been convicted of white-collar crimes.
Consider the case of Samuel D. Waksal, holder of a PhD and founder and CEO of ImClone Systems, a pharmaceutical company. Waksal knew that the U.S. Food and Drug Administration had rejected a critical ImClone product, an announcement that typically causes a decline in the price of a pharmaceutical stock. Waksal tipped off his daughter and others, who sold their ImClone stock before ...
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