Carl Icahn : A Entrepreneur

Ethics is the moral principles that govern a person's behavior or the conducting of an activity. It is the moral values that a person believes in. The way that a person interacts with others. The golden rule of treating others how you would like to be treated. Having good ethics is a basis for having a successful business.

Synopsis A childhood friend summed up the driving force in Bernie Madoff’s life: “Bernie wanted to be rich.” As a youngster growing up in New York City, Bernie realized that Wall Street was the greatest wealth creation machine the world had ever known. So, after graduating from college in 1960, he set his sights on joining the exclusive fraternity that ran Wall Street by organizing his own one-man brokerage firm, Madoff Securities. Madoff was one of the first individuals to recognize that computer technology provided the means to “democratize” Wall Street by establishing a system that made securities trading much more efficient and much cheaper. In the early 1970s, Madoff and several other individuals

Bernie Madoff robbed his investors for billions of dollars, treated his family like toxic scum and is even responsible for his son's suicide. In other words, Madoff is just a bad dude. But there is more to this guy than Ponzi schemes and broken dreams. Let's dig a little deeper on this iconic criminal and discover some rare facts.

Bernard Lawrence "Bernie" Madoff , born April 29, 1938 is an incarcerated former American stock broker, investment adviser, non-executive chairman of the NASDAQ stock market, and the admitted operator of what has been described as the largest Ponzi scheme in history.

Looking back it’s easy to see the mistakes made by the investors of Bernard Madoff, how he got the rich and famous to foolishly invest their money with very little or no due diligence. He made the return of 10 to 12 percent annually look so good that investors begged to be included. Who wanted want to be a part of the impenetrable financial products or the better than average returns offered by Mr. Madoff. Sadly, if investors had

Bernard Lawrence “Bernie Madoff” is an American former stock broker, investment adviser, non-executive chairman of the NASDAQ stock market, and the admitted operator of what has been described as the largest Ponzi scheme in history. (Bernard Madoff, 2011) This paper discusses the massive Ponzi scheme that Mr. Madoff created and those that were affected by it.

In the business world companies will run into times that they have to make decision based on ethics. This outcome may not be illegal, but unethical, which is just as important when running a business. Business Ethics is the concept of distinguishing between right and wrong and then making the right choice. The right choice may not always be the easiest or best alternative for the organization financially, but it is the greatest option for the company and its shareholders overall. The idea of business ethics is important to create trust between consumers, the community, and others involved with a given organization.

Ethics are principles of behaviour that distinguish between right and wrong. Resnik (2011) defines ethics as” a method, procedure, or perspective for deciding how to act and for analysing complex problems and issues” (p.1). People face ethical decisions; however, People working in business frequently face ethical decisions. Business ethics is the evaluation of business activities and behaviour as right or wrong (Society for Business Ethics, 1991).

This book talks about how Bernie Madoff was a liar and a cheat to American society where people got used betrayed and lied to because of him in belief they were going to becoming wealthy. Madoff was the world’s biggest thief that stole millions from people and destroyed numerous lives. He made people believe they were going to ‘get rich quick’ and that was his incentive on getting people to participate in his schemes. The book reports how this crook used his legal business as a broker-dealer and his standing as an innovative creator of Nasdaq to attract investors and avoid harsh scrutiny from the Securities and Exchange Commission. It described how he parlayed the reputations of a few valued and respected investors and associates into large followings in high-class communities like the Upper East Side of Manhattan and Palm Beach, and how he used feeder funds, which drove clients’ money to him, to extend his global reach.

Bernie Madoff was successful for so long because he kept a high level of secrecy in his firm. If a question or a concern was brought up, he instead focused on his many years of success. In an interview with Frontline, Michael Bienes, a CPA who fed Madoff clients during his early years, explained why so many people never questioned Bernie Madoff. When asked a question, Madoff would answer in a way to confuse even an expert. As was the sentiment of many who worked with

Madoff graduated from Hofstra in 1960 receiving his bachelor’s degree in political science. With the help from his father in law, a retired CPA, Madoff and his wife started their investments firm, Bernard L. Madoff Investment Securities, LLC. He took $5000 from his personal savings and borrowed an additional $50,000 from his in laws who attracted investors such as Steven Spielberg and Kevin Bacon. His business flourished during the 1980’s with annual returns of 10 percent or more and handling a percentage of trading volume on the New York Stock Exchange. It grew into one of the largest brokerage firms on Wall Street. During this period Madoff’s growing business had gone through some illegal trading’s on the side. More growth and illegalities had his bank accounts flowing with

His affairs were done by the “pump & dump” scheme: manipulating the market→ selling cheap stocks and falsely artificially raising and advertising that these stocks will become of great value to produce false misconceptions of its value so that people buy them, which inflates stock prices. Original investors end up selling their penny stocks for higher prices when the demand is high before the stock prices drop causing many who just bought those stocks to lose a lot of their

Bernard Madoff had full control of the organizational leadership of Bernard Madoff Investments Securities LLC. Madoff used charisma to convince his friends, members of elite groups, and his employees to believe in him. He tricked his clients into believing that they were investing in something special. He would often turn potential investors down, which helped Bernard in targeting the investors with more money to invest. Bernard Madoff created a system which promised high returns in the short term and was nothing but the Ponzi scheme. The system’s idea relied on funds from the new investors to pay misrepresented and extremely high returns to existing investors. He was doing this for years; convincing wealthy individuals and charities to

True to this, Soros after graduation had a humble background in his journey as a business person. Soros started up as a sales person where he endured great obstacles and humiliation at the start. Determination kept him moving and later managed to get a job in the merchant bank. with his outstanding performance and skills, his ladder started moving upwards. He later became a director and there is where he credits the success of his journey both as an investor, financial person and economist. additionally, Soros had the ambition to study philosophy which greatly open up his mind to predict, analyze and make quick decisive arguments in investing in the American and Europeans markets. Soros came to greatness through starting of funds organization. this is well seen in 1967. He was a key factor in the formation of First Eagle fund which was an offshore investment fund. as time went by, things turned up to great fortunes in his world of investing to greater

Ethics is defined as what is right and what is wrong. Every business should behave ethically. The moral principles that guide the way a business behaves are business Ethics. Ethics are moral guidelines to people or to an organisation which govern good behaviour. So behaving ethically is doing what is morally right. Doing an ethical business may always be not profitable but it will be more beneficial to company and the people involved in company as well as the people who are getting influenced by the company. If a company is acting ethically then it is trying to differentiate between right and wrong and then chose the right decision for everyone. It is very easy it identify any unethical