More Money Than Brains Leads to ‘Olympus Shock’: William Pesek
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Oct. 21 (Bloomberg) -- Master of Business Administrationprograms the world over should add a new course: Olympus 101.For budding business magnates, it would be a timely exerciseinto how not to handle a crisis, run a major company or managethe third-biggest economy.
It says a lot when world-weary investors hardened by theshenanigans at Enron Corp., WorldCom Inc., Parmalat SpA and WallStreet are aghast at a corporate scandal. The Einsteins atOlympus Corp., the camera and medical-supplies maker, pulled offthat feat and more in a week that can’t end soon enough forJapanese politicians and executives.