Essay On Valentine And Jones

570 Words2 Pages

The movie is fraught with business ethics issues. The most obvious one is the attempt by the Duke Brothers to commit the federal crime of insider trading. They hire Clarence Beeks to steal a copy of the Crop Report in advance of its public release. The brothers plan to read the report and illegally use the knowledge within to make huge profits in the commodities markets. Also, the hiring and firing practices of the brothers’ firm are ethically dubious. Winthorpe has been working for them for many years and has been one of their most successful brokers. He has been extremely loyal, and literally earned them millions of dollars. For the sake of their bet, the Dukes decide to reverse Winthorpe’s fortunes. This is bad enough, but he is not fired, …show more content…

While the true reason for Winthorpe’s termination is the Duke’s bet, there is the added benefit to the firm that no unemployment benefits or other incentives will need to be paid to their former employee. They are able to fire him “for cause” and relieve themselves from numerous future financial obligations to him. At the same time, their hiring of Valentine (while it ultimately turns out to be profitable because of Valentine’s “street smarts” and practical wisdom), is not based on any search of qualified candidates. Hiring him is, in essence, nepotism. Valentine has no relevant credentials, and, in fact, has a list of prior petty criminal offenses. The Dukes fill the position vacated by Winthorpe based only on their personal interaction with Valentine, with no knowledge of his abilities or professional track record. The best business decision, and the ethically appropriate decision, would have been to terminate Winthorpe by giving him advance notice, possibly a severance package, and time to find new lodgings and transportation. Then the firm ideally would have scheduled several rounds of interviews and brought in qualified candidates in order to determine who would be the best fit for the job based on experience and industry

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