Word: texaco
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Responding to HBS assertions that Texaco is an example of a company acting against the interest of the country, HLS students said that stockholders and customers have been able to change the major corporation's policy. HBS debaters had cited the Texaco racial-harassment suit as an instance of corporate irresponsibility...
...likes of Johns-Manville and Owens-Illinois vanished. The early '90s saw Disney and J.P. Morgan added, while Navistar and USX got the boot. With the latest changes, which take effect this week, the Dow has morphed further from its heavy-industry roots: Woolworth, Westinghouse Electric, Bethlehem Steel and Texaco are being replaced by Wal-Mart Stores, Travelers, Johnson & Johnson and Hewlett-Packard...
Although bad publicity may have been one of the factors that motivated Texaco to accept a settlement, it is preposterous to suggest that a corporation would pay the astronomical sum of $176 million merely to squash bad publicity. Leo's ridiculous assertion is not only unsubstantiated but also ignores hard evidence leveled against Texaco, such as the Justice Department's incriminating report. Furthermore, even his analysis of the recorded comments of Texaco's executives is a whitewash. The executive who referred to blacks as "black jelly beans" had indeed picked up this terminology from a black diversity instructor. However...
...attitude, unfortunately, is typical of much of the white establishment that persists in denying the impact of discrimination by ignoring evidence of racism and by seeking to apologize for it. He seeks to excuse yet another offensive incident at Texaco (a black woman was given a birthday cake featuring crude references to watermelon) by describing it bizarrely as "well meaning but racist...
Despite Leo's distaste for discrimination lawsuits, the Texaco case sets a healthy precedent. If corporations will not combat racism on moral grounds, perhaps being forced to pay millions of dollars in atonement will spur American businesses to combat and prevent injustice...