Jack Ryan
9-26-13
Case 1: Jack Ryan and Palisades Produce The workplace is littered with ethical dilemmas no matter where you work. For Pacific Trust the primary ethical issues that need attention are Jack Ryan’s negligent behavior toward his work with the Palisades Produce contract. His negligence caused him to be faced with lying to his superior or taking responsibility for his mistakes. The necessity for a course of action to help Jack comes partly from the underlying issue of Stephen Wood’s misconduct within the Middle-market Group. Jack Ryan had been closely working with Palisades Produce for over a year and in his excitement over finally landing them as a client, Jack did not closely read over the stipulations in the contract set forth by Gretchen Marks, Senior Banker in Risk Management. These stipulations were that Jack would obtain monthly Borrowing base reports from Palisades Produce. The Borrowing base reports show the bank how much collateral a company has to cover how much they are requesting to borrow from the bank. Without these reports, a bank could lend out money to companies that could not pay it back. Jack’s first step was to inform his boss, Stephen Wood, of the mistake he made. The response from Wood was for Jack to lie to Gretchen Marks by obtaining and submitting Borrowing base reports of the last four months at the current time as if Jack had always had them. This is clearly an unethical and unwise course of action for anyone to do. Since Jack has not seen the Borrowing base reports, he does not know if Palisades Produce has any flaws in their records or insufficient collateral. Such flaws would cause Pacific Trust to get into trouble by lending out money they could not get back. After leaving Wood’s office, Jack should have reported to Gretchen Marks to inform her about his mistake in not obtaining the Borrowing base reports. If Jack decides to follow the advice of Stephen Wood in order to maybe save his job, then he will most likely lose
Case 1: Jack Ryan and Palisades Produce The workplace is littered with ethical dilemmas no matter where you work. For Pacific Trust the primary ethical issues that need attention are Jack Ryan’s negligent behavior toward his work with the Palisades Produce contract. His negligence caused him to be faced with lying to his superior or taking responsibility for his mistakes. The necessity for a course of action to help Jack comes partly from the underlying issue of Stephen Wood’s misconduct within the Middle-market Group. Jack Ryan had been closely working with Palisades Produce for over a year and in his excitement over finally landing them as a client, Jack did not closely read over the stipulations in the contract set forth by Gretchen Marks, Senior Banker in Risk Management. These stipulations were that Jack would obtain monthly Borrowing base reports from Palisades Produce. The Borrowing base reports show the bank how much collateral a company has to cover how much they are requesting to borrow from the bank. Without these reports, a bank could lend out money to companies that could not pay it back. Jack’s first step was to inform his boss, Stephen Wood, of the mistake he made. The response from Wood was for Jack to lie to Gretchen Marks by obtaining and submitting Borrowing base reports of the last four months at the current time as if Jack had always had them. This is clearly an unethical and unwise course of action for anyone to do. Since Jack has not seen the Borrowing base reports, he does not know if Palisades Produce has any flaws in their records or insufficient collateral. Such flaws would cause Pacific Trust to get into trouble by lending out money they could not get back. After leaving Wood’s office, Jack should have reported to Gretchen Marks to inform her about his mistake in not obtaining the Borrowing base reports. If Jack decides to follow the advice of Stephen Wood in order to maybe save his job, then he will most likely lose