News

The New Gen Ed Lottery System, Explained

News

Armed Individuals Sighted in Harvard Square Arraigned

News

Harvard Students Form Coalition Supporting Slave Photo Lawsuit's Demands

News

Police Apprehend Armed Man and Woman in Central Square

News

107 Faculty Called for Review of Tenure Procedures in Letter to Dean Gay

Banker Speaks

By Luke Dones

Business must use profits to serve legitimate public needs, Donald C. Platten, chairman of the New York Chemical Bank, said yesterday in a speech before the Business School's Finance Club.

Speaking to over 100 Business school students and faculty members, Platten stressed the need for business executives to establish "an atmosphere of belief in an ethical standard" among their employees, noting that many businessmen compromise personal ethics for corporate goals.

Platten said petty bribes to "expedite" business in foreign countries are justifiable, but bribes to win contracts are not.

Asked whether the Lance resignation would lead to stricter government control of lending practices, Platten said new laws were unnecessary because Lance's actions were covered by existing regulations.

Want to keep up with breaking news? Subscribe to our email newsletter.

Tags