“Harry Markopolos … who gained fame a decade ago for pointing out Bernie Madoff ’s Ponzi scheme, issued a report Thursday saying that the industrial conglomerate is hiding problems ‘more serious than either the Enron or WorldCom accounting frauds.’ Chief Executive Larry Culp dubbed the report ‘market manipulation.’ Leslie Seidman, the chair of GE’s audit committee and former chair of the group overseeing the accounting industry, told CNBC that the report was ‘full of misleading, inaccurate and inflammatory statements.’”Wall Street Journal
August 16, 2019
“GE’s share-price meltdown…can be traced to fears of nasty surprises not necessarily visible in its public accounts.”
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Reputation risk: peril of stakeholders’ disappointment and anger.
For a broader view of reputation risk, discover additional articles by Steel City Re here, mentions of Steel City Re here, and comments on newsworthy topics by Steel City Re here. To read an abstracted summary of reputation risk, see below.
Risk governance and management, risk financing in insurance captives, and risk transfer through reputation insurances comprise the constituent elements of a comprehensive enterprise reputation risk solution.
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