A perfect example of this is with James E. Rohr, chairman and CEO of PNC Financial Services Group Inc, whose accountability is being questioned because when under Rohr, “Pittsburgh’s PNC made an accounting maneuver that on July 18 brought down the ire of the Federal Reserve, Securities & Exchange Commission, and the Office of the Comptroller of the Currency (occ).” PNC put $762 million of bad assets into three off-balanced-sheet entities, they “camouflaged” the risks, sold stock after “inaccurately” portraying it’s financial performance, and misled shareholder all under Rohr.

Many analysts’ say that the guy at the top should take the blame, but so fa

r Rohr looks like he will get away with it. After Rohr’s first bad decision PNC’s shares fell 10% when it later restated 2001 earnings and have lost 23.5% this year. After PNC announced that they would maintain with their same CEO in August 28, 2002, PNC’s stock fell 3.5% to $46.20. The main problem with PNC was there leadership or lack of it. PNC, with partner American international Group Inc., continued to create off-balance-sheet vehicles and to shift bad assets into them last fall as Enron was collapsing. With, “shows at best the lack of awareness of public concerns on Rohr’s part.

My topic didn’t really have a deep moral problem to pull something out of The Theory of Moral Sentiments. The CEO of PNC didn’t really do anything morally wrong he just used bad judgment in not overseeing major decisions which does has an ethical problem but not morally at all.

Many executives departed from the company later that year. Such as Chief Financial Officer Robert L. Haunschild, who became the sixth PNC official to quit. William S. Demchak who was the structured –finance chief at J.P. Chase will t

Some topics in this essay:
, Comptroller Currency, Leaving Rohr, Especially Enron, CEO August, Rohr’s Rohr, Economic Justice, Services Inc, CEO PNC, PNC CEOs’, bad ethical, advice lawyers financial, ceo pnc, relied advice, advice lawyers, lawyers financial, personally blame, blame happened, relied advice lawyers, bad assets,