When it comes to Ponzi schemes, it always amazes me how seemingly intelligent and well-educated people can fall prey to them. (At least, you’d assume that anyone who’s made a sizable chunk of money has a basic level of intelligence when it comes to how it is invested.) It’s a question I’ve thought enough about through the years that I’ve come up with a three-pronged answer: Promise. Illusion. Trust. Or, what I like to call “the PIT.” The PIT formula pretty much explains nearly eve... Read Full Story

Since I began speaking about business ethics, I’ve started to see some encouraging signs. Business schools from Harvard to Stanford have begun adding classes that examine the role that social responsibility can play in business. Some schools are now even offering a degree in it. Case in point is the New England College of Business and Finance (NECB). It now offers an online master’s degree in business ethics and compliance, which it calls a “first-of-its-kind in the nation.” Personally, I’m a... Read Full Story

Here’s a question for you: If you had a service to provide — and someone asked you to provide it for free, or at a radically reduced price — would you do it? No, right? Now try this on for size: If you were a doctor, and someone asked you to provide a service at a rate that didn’t reimburse you for the total cost of care, would you do it? In nearly every line of business, one maxim holds true: “If you can’t pay, we don’t play.” So, why should doctors be viewed any different? That’s the questi... Read Full Story

Are business schools effectively teaching ethics? That’s a good question to ask, especially now. The other day, North Dakota State University’s longtime president, Joseph Chapman (right) resigned amid growing criticism over his expensive new presidential residence. Presidential is the operative word. Cost overruns exceeded $2 million, compared with the original $900,000 that had been budgeted for the project. But the good news doesn’t stop there. The Forum, a Fargo newspaper, reports that the... Read Full Story

It’s no secret, at least among certified financial planners: Most ethics courses are as boring as can be. They don’t have to be. In conjunction with my consulting group, Barclay’s has created a webinar on ethics for CFPs to get their continuing education hours. So, if you go to Barclays, and register as a CFP, you’ll have access to this webinar. Non-boring. For a change. Check it out! Read Full Story

More times than not, media reports tell us that government spending is rife with fraud and waste. While those stories deserve attention, it’s easy to lose sight of people in government who really are conscientious stewards of U.S. taxpayers’ money. Rear Admiral Steven J. Romano (right) is one of them. Romano is the commander and chief executive officer for the Navy Exchange Service Command in Virginia Beach, Va. He also overseas Navy Exchange System, or NEX, a Wal-Mart type store for military... Read Full Story

In addition to being a professional speaker, I am also the VP of Marketing for American Funeral Financial.  This article was posted on the “Funeral News” blog and I asked permission to post it on my blog.  It’s nice when a firm performs so well that they get positive press.  The article appears below just as it was printed on “Funeral News.” While the focus of Funeral News is to report on death-care related events, we consider our sponsor to be an important asset... Read Full Story

On of the most viewed Blog entries was the one about Brad Stinn and Friedman’s Jewelers. Pump up those sales! We’ve got to make the quarter! How often are those command heard and how tempting is it to make the wrong choices in order to please the investing public and Wall Street? Following six weeks of trial - Bradley Stinn, age 47, - former CEO of Freidman’s, Inc. and Crescent Jewelers, found himself being convicted of securities fraud, mail fraud and conspiracy. Likewise, in addition ... Read Full Story

VERMILLION, S.D. – During troubled economic times, Chuck Gallagher isn’t afraid to share his story of success – and how he lost it all. Gallagher, a business executive and motivational speaker, will be a guest of the Beacom School of Business of The University of South Dakota on Monday, April 27 at 7 p.m. in the Wayne S. Knutson Theatre. Gallagher, a former CPA who lost everything because of poor choices, will present the program “Choices: Negative Consequences, Positive Results” where he wil... Read Full Story

I have heard of many things, but this one ranks high in creative approaches to scamming.  The R I P button likely stands for Resides In Prison cause that’s where these two will go if the charges alleged are proven. According to the US Attorney’s office in LA - two women - allegedly participated in a scheme to cash life insurance policies for fictitious individuals and stage  funerals to create the appearance that the individuals had died. According to the indictment, Shilling, a ... Read Full Story