The Business of Honor

I got a little bit exorcised yesterday while writing about the $25 billion auto industry bailout . Got my freak on there.

Last night in bed the adrenaline was still flowing and I was feeling pretty triumphant about my shot across the bow of the barons of the auto industry.

And I was trying to recall something that I couldn't quite put my finger on...something about a similar situation when some executives lied to a congressional committee...

And this morning, with the help of Google, I remembered. In 1994, the House Subcommittee on Health and the Environment, chaired by Henry Waxman, held a hearing on the regulation of tobacco products.

Seven CEO's from the biggest companies in the tobacco industry were called to testify:

=William Campbell, CEO and President of Philip Morris U.S.A.
=James Johnston, Chairman and CEO of RJ Reynolds Tobacco
=Joseph Taddeo, President of U.S. Tobacco
=Laurence A. Tisch, Chairman and CEO of Lorillard Tobacco Company
=Edward Horrigan, Chairman and CEO of Liggett Group
=Thomas Sandefur, Chairman and CEO of Brown and Williamson Tobacco Company
=Donald Johnston, President and CEO of American Tobacco Company

Under oath, each of these guys was asked flat out: "Yes or no, do you believe nicotine is not addictive?"

And each and every one of these guys said something under oatch that they knew in the hearts to be untrue.



How do you face your kids after pulling something as dishonest and dishonorable as that?