Galleon and CAAP Inc.’s Toxic Business “Advantages”

In business, everyone is looking for an advantage; an idea, innovation or strategy that keeps them ahead of the competition.  For most, the search for that advantage involves the constant pursuit of new, better and different ideas, resources and strategies.  Those whose searches yield advantages win, those who don’t, lose.  Capitalism as it should be.

 

Unfortunately, not everyone looking for an advantage chooses to do so in the right way.  Some coerce, bully, lie, steal and cheat.  Recently we’ve seen the consequences of the pursuit of unfair business advantage is the collapse of the “premier” New York hedge fund Galleon  Group, www.galleongrp.com.  The firm, led (or more accurately ruined) by its billionaire founder, Raj Rajaratnam, www.hedgefundnews.com/news_n_info/article_detail.php?id=105, has dissolved with Lehman Brothers speed after being charged by New York’s US Attorney and the SEC with illegal insider trading in companies like Google, IBM and others.  According to the charges, to which he has pleaded not guilty, Mr. Rajaratnam chose to buy insider information from a cadre of ethics-deprived company and consultant accomplices.  This information led to quick profits for Galleon and token cash payments to the accomplices, both at the expense of the “average” shareholder, who are no doubt “losers and schmucks” compared to Mr. Rajaratnam’s ill-gotten “genius.”

 

While the waste industry may not have the Hollywood appeal of the greedy hedge fund founder in handcuffs’ perp walk, the quest for illegal advantage is, while not pervasive, unfortunately still alive and well.  An October 23^rd article in The Milwaukee Journal Sentinel, http://www.jsonline.com/news/wisconsin/65085807.html, describes the story of CAAP, Inc. and its owner who were found guilty in Washington County Circuit Court for misleading Wisconsin’s DNR investigators.  The company and its owner apparently failed to properly dispose of waste acid it collected from the City of Milwaukee’s Linwood Water Treatment facility.  Rather than properly dispose of the hazardous waste acid, CAAP instead allegedly brought the waste to the owner’s property and placed it in a van where, over time it either leaked or was dumped onto the ground.

 

So what do these stories have in common with each other?  While CAAP’s owner has been sentenced to 75 days in jail and Mr. Rajaratnam is likely headed there as well, they are not the losers here.  The losers are the rest of us who depend on businesses and their leaders to create advantages that satisfy, help and protect their customers, not cheat them or put them at risk.

 

There is no place in business for cheaters, yet cheaters, as these stories show, are unfortunately alive and well.  Whether you’re an investor or a waste generator, you need to make sure you don’t get cheated.  You need to see things for yourself.  You need to ask the right questions.  You need to verify.  You need to be responsible.

 

When it comes to your waste disposal choices, don’t take my word (or anyone’s word) on faith.  Ask questions and verify.  Beware. Don’t allow cheaters to take advantage of you!

Comments

[Vvs Jon]

The company and its owner apparently failed to properly dispose of waste acid it collected from the City of Milwaukee’s Linwood Water Treatment facility. Rather than properly dispose of the hazardous waste acid.
Conveyancing solicitors

[Biological Grease Trap Treatment]

Rather than properly dispose of the hazardous waste acid, CAAP instead allegedly brought the waste to the owner’s property and placed it in a van where, over time it either leaked or was dumped onto the ground.

[24 hour hazwoper]

The kind of information helps people be more aware in their community. thanks!