disconnected at Verizon.
Conflicts of Interest at Verizon (VZ): It has been widely reported
that in an effort to obtain a contract with the New York City municipality, 3
Verizon managers inappropriately "wined and dined" city officials involved with
the selection process. Accounting department personnel for Verizon identified
the conflict when reviewing the expense reimbursement claims of the Verizon managers
involved. Verizon correctly reported the incident to New York City officials who
began their own investigation immediately.
it was clear that Verizon had a corporate policy against "gifts" to obtain business,
this incident should serve as a reminder that employees at all levels need to
be reminded of business ethics and what the firm policies are. NYC officials determined
that Verizon should not be penalized for the infractions and will be allowed to
remain in contention in the selection process for NYC contracts. In my experience,
I have often had prospective vendors offer to take me out for lunch or dinner
to discuss potential business. Others have also offered tickets to sporting or
entertainment venues. I have always politely refused such offers. Even unsolicited
gifts exceeding a value of $25 from any individual or firm was typically required
to be returned. Some firms will often require each employee sign an annual release
attesting that they have read the most up to date employee manual on firm policies,
understand them, and are in full compliance.
2004 Nelson Chin.
inquire about consulting or speaking engagements, e-mail: Nelson