Saturday, March 04, 2006
By Bruce Meyerson, The Associated Press
NEW YORK -- Corporate philanthropy generally doesn't rank very high, if at all, on the list of shareholder grievances. That may be a mistake, since charitable giving can be ripe for abuse and self-serving behavior by executives.
The magnitude of such misbehavior can range from outright crime to more subtle acts such as funding a charity in which a top manager is involved, a donation that can benefit an executive's social standing more than the company and its shareholders."