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Employees who lie to get in the door can wreak untold havoc on a business, experts say, from tarnishing the reputation and credibility of a firm to upending co-workers and projects to igniting shareholder wrath--and that's if the lie is found out. Even when it isn't, the falsified résumé can indicate a deeply rooted inclination toward unethical behavior...
...through automated criminal checks. With this increased vigilance comes a thorny new dilemma: figuring out whether every fib is really a fireable offense. Many bosses feel that a worker's track record on the job speaks more strongly than a stretched résumé, says John Challenger of the outplacement firm Challenger, Gray & Christmas. Rather than booting talented workers, Challenger suggests, employers should offer an amnesty period. "A moratorium would let anyone who needs to come clean," he says. And the culprit could always go back to school and finish that degree--maybe even on company time...
...back to the U.S. in the mid-1990s, the lure of what was happening on the mainland proved irresistible. Two years ago he accepted an offer from U.S. hedge-fund manager James Rosenwald to set up shop in Shanghai, where Shu runs a China fund for Rosenwald's firm, Dalton Investments. He is also director of Dalton affiliate Grand River Investments, a private-equity firm that, among other things, invests in and manages high-end real estate in Shanghai, a city crawling with the new rich. Shu himself recently bought and has been refurbishing an elegant old house in central...
...DIED. Warren Platner, 86, architect and designer whose graceful steel-wire chairs, tables and ottomans for the Knoll furniture firm have been continuously produced since 1966; in New Haven, Connecticut. Platner, who worked with Eero Saarinen and I.M. Pei, had a role in some of the most striking examples of modernism, including the interior design of Chicago's Water Tower Place, a vertical shopping mall, and Windows on the World, the restaurant that sat atop New York City's World Trade Center...
...message last Wednesday as the Hyundai-Kia Automotive Group, under investigation for allegedly creating a slush fund to influence government officials, apologized to the public for "causing the nation much anxiety" and pledged a whopping $1 billion in donations to unspecified charities. The same day, U.S. private-equity firm Lone Star Funds, facing an inquiry into its purchase of a local bank in 2003 and smarting from allegations that its former top Korea executive had embezzled millions, announced it would donate some $105 million to the government as "a gesture of goodwill." Neither apology was an admission of guilt...