Ethics falling by the way ...

It seems like every time I turn on the news there's something new about executives lining their pockets with company money.

In many cases, it's shareholder money - money people have invested in the company with good intentions. I'm not so much bothered by the fact that this happens. Because we are, after all, human and some of us do fall victim to temptation. But I AM  concerned by the frequency of these kinds of shenanigins.

It's happening far too often and I fear we're only seeing the tip of the iceburg.

On Tuesday, Citigroup - under heavy fire from politicians - backed down from its plan to buy a corporate jet for $50 million. And this plan was hatched sometime after the company received $45 billion in federal bailout money!

Go figure. 

 Gary Kaplan, president of Gary Kaplan & Associates, a Pasadena-based executive search firm, said  Citigroup's actions appear to be part of a larger and more pervasive breakdown of corporate ethics in America.

"I have significant concerns about what I see has transpired in comtemporary times in terms of playing loose with values," Kaplan said. "There's been a deterioration of values in many corporate cultures. You get a sense that many of these organization are not as concerned with investors and their employees as they should be."

And that ... appears to be an understatement.