OF BLOOD AND CRANES

(When Logic Finishes Second) (By Dr. Joseph W. Koletar) The Wall Street Journal of May 26, 2016 carried the following front-page article: “Deal With Theranos Haunts Walgreens” The article recounts the long and somewhat confusing saga of an old drug store chain and a young “up-start” company called Theranos. In the Spring of 2011, the […]

   

SHOOT, THEN MOVE THE TARGET

(By Joseph W. Koletar) The Economist Magazine of March 26, 2016 carried the following article on p. 85: “Clinical Trials: For my next trick…” It recounts the experience of drug company GlaxoSmithKline (GSK) with a drug called Paxil. Coming to market in 1992, it was presented as a treatment for depression. Some years later it […]



THREE WAYS TO STEAL

    (By Dr. Joseph W. Koletar) While there are hundreds of dishonest ways one person can take money from another person they fall into three basic categories. In reverse order of frequency they are: • Force, or Threat of Force (We call these Armed Robbery, Extortion, and Kidnapping); • Stealth (We call these Auto […]

 

IS “SORRY” ENOUGH?

(By Dr. Joseph W. Koletar) It is not unusual for financial sector brigands to express some remorse once their misdeeds have come to light. Such actions may be lucrative – paid speaking engagements, advising corporate Boards on why they should be more attentive, etc. The Wall Street Journal of April 30 – May 1, 2016 […]



IT TAKES A MACHINE

(By Joseph W. Koletar) On March 28, 2016, Niall Ferguson, Professor of History at Harvard, published his thoughts that to defeat a network such as ISIS will require a countervailing network of countries, agencies, and people in many fields. This is not unlike the movie, The Imitation Game, which recounted the efforts of Alan Turing, […]



DARK TRIAD PERSONALITIES: SLEEPER CELL FRAUDSTERS? COULD YOU BE ONE?

(By Jack Bigelow) Corporate fraud prevention and detection tools include organizational structure design, tests, checklists, “healthy skepticism,” and other nonpersonal procedures targeting financial mischief. But there’s growing interest now in looking at the deep psychological influences on managers committing fraud, to see why (beyond the surface factor of greed) they do it. We call this […]