What are ten ethical issues facing General Electric in the past six years?
General Electric is currently working through a number of ethical and legal dilemmas. While all large companies will have their issues, General Electric is peculiar because it seems to have quite a few ethical issues that are clearly inadvisable. Below are ten of their most recent scandals.
1. Shareholder fraud over lack of transparency for pension plans.
2. Employee grievances over subprime 401k investments.
3. Subprime mortgage selloffs.
4. Lawsuit with Veolia over improper handling of asbestos.
5. Misrepresentation of investment in clean energy.
6. Miscellaneous SEC accounting violations - misleading stockholders.
7. Misuse of company property - private jet off the books for use by CEO.
8. Involved in anti-competition scandal in international markets.
9. Involved in coal dumping scandal in association with subsidiary Alstom.
10. Misreporting of insurance losses to shareholders and intent to cover those losses up.