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Wednesday, September 24, 2008

Overcoming The GAP - Greed Against Principle

"Integrity is an important character trait in every human being because it is the main moral that keeps our world responsible and functioning. If integrity was absent in our lives, nobody would be responsible to anyone else, and nothing would ever be accomplished...." - an extract from a passage by VW, one of my students.

WSJ reports that "At CVS Golf Gala, Suppliers Pay for Access to Executives."
An extract..."Like other retailers, CVS Caremark Corp. has an ethics policy meant to keep suppliers from using pricey travel, entertainment or gifts to buy the favor of its employees. But many companies have found a way to spread largess to the drugstore giant's influential executives -- with the blessing of CVS.

This year, for example, KKM LLC of Lincoln, R.I., paid at least $50,000 for a weekend of yachting and golf with two top CVS officials. In past years, KKM, which sells goods to CVS on behalf of manufacturers, has funded other vacations that paired its executives with ..."


Eli Lilly to disclose payments to doctors The company's move to report money for speeches and advice comes as Congress pushesdisclosure legislation.
From the Associated Press
September 24, 2008

WASHINGTON -- In an industry first, Eli Lilly & Co. says it will begin disclosing how much money it pays to individual doctors for advice, speeches and other services.

The drug company's move comes as members of Congress push a disclosure bill in an effort to prevent such payments from improperly influencing medical decisions.

Beginning next year, Eli Lilly will disclose payments of more than $500 to doctors for their roles as advisors and for speaking at educational seminars. In later years, the company will expand the types of payments disclosed to include such things as travel, entertainment and gifts.

Some have voiced concerns that doctors are influenced by these payments in their treatment decisions and that this in turn can drive up medical bills. Although most physicians believe that free lunches or trips have no effect on their medical judgment, research has shown that these type of payments can affect how people act.

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