Question
Ethics in business Instructions: 1. Read and analyze the following situation. Bernard J. Ebbers, CEO and founder of the telecommunications giant, WorldCom, owed the corporation
Ethics in business Instructions: 1. Read and analyze the following situation. Bernard J. Ebbers, CEO and founder of the telecommunications giant, WorldCom, owed the corporation $375 million for a loan secured by shares he owned in the company. The value of the company's shares was declining, to the point that the value of its shares was less than the amount of the loan. On February 2, 2002, Mr. Ebbers entered into a series of communications with leading Wall Street stock analysts, whose input helped drive the stock price higher, to counter negative news about the company's economic condition. , which was scaring investors. That day, the company's shares increased by 12% in value. Four months later, the company filed for bankruptcy protection due to its precarious economic condition. 2. Answer the following questions: a. Are the aforementioned actions illegal? Are they antithetical? Justify and explain your answer. b. What is the difference between an illegal action and an unethical one? Justify and explain your answer.
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