Business Law for Jack Grubman Analysts †MyAssignmenthelp.com

Question: Discuss about the Business Law for Jack Grubman Analysts. Answer: Jack Grubman, one of the highest paid analysts on Wall Street, was a graduate of Boston University but claimed a degree from Massachusetts Institute of Technology (MIT). He was fined $15 million and was banned from securities transactions for life by the Securities and Exchange Commission apparently for misleading the investors with his research reports into certain companies. This fib regarding his personal history became subject to several controversies and questioned the integrity of the information investors receive. In practice, it does not even matter if the executives overstate their educational credentials as it is common in every corporation where the corporate communication department occasionally stirs up misleading data with a view to affect the reputation of the company and its executives (Kuhn, Johnson Miller, 2013). Moreover, the Company Boards even seldom discusses about university degrees while recruiting candidates for top executive positions as a 50-year-old executive does not get recruited merely on the ground that he has a right degree. If there is no evidence that exaggerated academic aptitude is not a contra-indicator for competence, fudging about academic credentials is useful as it boosts up the image of the company (Forbes, 2013). Although it is perplexing, why any mature and successful analyst would lie about a degree he may have obtained 20 years ago, nevertheless, at the top of the profession, experience and track records tend to matter far more than academic credentials. At times, it is useful to distinguish between fudging and lying as often self created entrepreneurs have found it to be necessary to fudge about their educational credentials that people of the same position which they aspire, possess effortlessly and this cannot be considered as a lie as often fudging about academic credentials becomes the only way to establish connections. References Forbes, W. (2013). No conflict, no interest: on the economics of conflicts of interest faced by analysts.European Journal of Law and Economics,35(3), 327-348. Kuhn, K. M., Johnson, T. R., Miller, D. (2013). Applicant desirability influences reactions to discovered rsum embellishments.International Journal of Selection and Assessment,21(1), 111-120.