It is currently 20 Sep 2017, 07:37


GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

for You

we will pick new questions that match your level based on your Timer History

Your Progress

every week, we’ll send you an estimated GMAT score based on your performance


we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.


Request Expert Reply

Confirm Cancel

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

Business and Ethics -

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message

Hide Tags

User avatar
Joined: 14 Feb 2005
Posts: 999

Kudos [?]: 20 [0], given: 0

Location: New York
Business and Ethics - [#permalink]

Show Tags

New post 20 Nov 2007, 09:41
JACKSON, Mo. -- A collision with a semi-trailer truck seven years ago left 52-year-old Deborah Shank permanently brain-damaged and in a wheelchair. Her husband, Jim, and three sons found a small source of solace: a $700,000 accident settlement from the trucking company involved. After legal fees and other expenses, the remaining $417,000 was put in a special trust. It was to be used for Mrs. Shank's care.

What kind of Leadership does these companies have

I think the whole issue should have been looked from a humanitarian perspective

How many of you think that is the way businesses should run their health plans?

To increase profits/efficiency -at what cost ?

Kudos [?]: 20 [0], given: 0

GMAT Club Legend
GMAT Club Legend
User avatar
Joined: 10 Apr 2007
Posts: 4318

Kudos [?]: 761 [0], given: 5

Location: Back in Chicago, IL
Schools: Kellogg Alum: Class of 2010

Show Tags

New post 20 Nov 2007, 10:14
Thats a terrible story but in a way its not so much the insurance companies ethics that are wrong. Generally they try to get the money from the other insurance company who covers the person who caused the accident.

The real problem is she only got 700K...that sounds like a lot until you realize that 400K isnt going to cover the costs to support the woman for the rest of her life. Yes lawyers come across as greedy when they win multimillion dollar suits but in this case its justified. Personally at 27 if I got hurt and lost 35 years of earnings, inflation, and interest...I would like to think I would be worth more than a million bucks. This is one of those suits that seems wrong...the insurance should have sued the trucking company and/or their insurer.

Now the ethics of potentially destroying a business and its owners life is another arguement but in my opinion, he was under insured. I know if I owned a trucking business I would insure myself for a lot more than a million bucks.

Walmart is evil anyways, we all know that so who would expect anything less from them.

Kudos [?]: 761 [0], given: 5

Joined: 03 Mar 2007
Posts: 985

Kudos [?]: 47 [0], given: 8

Location: Hong Kong
Concentration: Finance, Economics
Schools: HKUST MBA - Class of 2014
GMAT 1: 740 Q48 V44
GPA: 3.2
WE: Consulting (Consulting)

Show Tags

New post 20 Nov 2007, 15:33
I did my thesis on US trucking industry and the violations that happen makes me shudder.....

More than the truckers,I blame the lobbyists in Congress and the lawyers (as river said) guys will do anything to get a slice of the pie, and to do that pass the most useless bills that puts truck drivers lives in jeopardy...

Kudos [?]: 47 [0], given: 8

  [#permalink] 20 Nov 2007, 15:33
    Similar topics Author Replies Last post
1 The Ethics of Holding Out extermin8r 4 20 Feb 2011, 01:33
Leadership and Ethics Essay almostfamous 1 24 Oct 2009, 02:46
Recommendation Letters (Ethics) agold 8 25 Mar 2008, 22:59
ethical dilemma dilemma00 1 01 Dec 2009, 16:06
1 ethical dilemma gt7er 3 09 Nov 2008, 10:54
Display posts from previous: Sort by

Business and Ethics -

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  

Moderators: aeropower, OasisGC, bb10

GMAT Club MBA Forum Home| About| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.