Read an interesting New York Times (2008) about Siemens and its involvement in Bribery across the globe.
To understand how Siemens, one of the world’s biggest companies, last week ended up paying $1.6 billion in the largest fine for bribery in modern corporate history, it’s worth delving into Mr. Siekaczek’s unusual journey.
1 thought on “Off Topic- Old NYT Article on Siemens and Bribery”
Mridula, Whats your say in this?This is a strange, dark and true situation. The person who actually goes for the results has escaped unscathed, but lambs were sacrificed. Lambs who just went around doing there job, eking out there living.And this is not new thing, where I worked, we'd an active anti bribery policy, even our dept. was forefront in it, but the fact is that there are few things in which if bribes aren't paid, they can't be done and costs simply escalate to unmanageable levels. Since, that was the policy, the we followed it. I cannot disclose more than that, but few countries just cannot move without greasing of palms.This fact is hidden from none, and can only be done with active cooperation of finance, which further gets authority from CFO and above him CEO. Even the executive directors must be aware of it. Take Satyam, for example. But for mid level 'professionals' who is not just another MBA, a goof up can land him or her a time in jail. Whereas for other people its simply losing their respective job or losing a part of their salary.It is what law says :)Life, might be unfair here, but it goes on.