Ethical Issues In Cruickshank, Garth, & Romano Real State Company

1578 words - 6 pages

Introduction
Cruickshank, Garth & Romano is a new real estate appraisal and consulting firm. Richard Romano, a principle of the firm, had just completed a preliminary evaluation of a property for a new client, Watson & Musico. However, his client refuses to accept the appraisal and requested the value be increased by $4.5 million or else they would take their business elsewhere. Richard's decision on his client's estimate could have great impact on Cruickshank, Garth & Romano's success and its ability to develop new clients. The new firm could ill-afford to pass up on doing Watson & Musico's business but Richard also wanted to complete the appraisal according to his best estimate of the current market value of the property. This paper will analyze the ethical issues and alternatives for this case.
Stakeholders
John Mortimer controls Watson & Musico Developments and is well known for his abrasive style and aggressive approach in business dealings. His firm is rumoured to have a highly restricted cash flow because of its aggressive leasing policy. Because of the depressed real estate market, Mortimer is refinancing all of its properties to reduce its debt service requirements and to generate cash. Since, the amount that could be borrowed from the bank is positively correlated with the appraised value, Mortimer would like his property to be valued as high as possible. Therefore, he would want Richard to value his property at his requested value of $35 million.
Richard Romano is one of the three principals at Cruickshank, Gath, & Romano. With eight years of experience and recognized by industry insiders as one of Canada's leading real estate experts, Richard wants to complete the appraisal according to his best estimate of the property's current market value. However, he also wants to satisfy Watson & Musico's request to raise the value since their business could give his new firm a major boost in reputation and revenue. If he doesn't comply to his client's request, they might take their business elsewhere.
Other stakeholders include Cruickshank, Gath & Romano, banks, the Appraisal Institute of Canada, and competitors. Cruickshank, Garth & Romano's success as a new firm would be influenced by the satisfaction of its clients. The firm would want Richard to be both ethical and reputable while also being able to establish good relations with his clients. Banks would want Richard to give his best estimate of the current market value of the property, $30.5 million, since this would give them a better idea of how much to lend to Watson & Musico and the risk factor associated with it. The AIC would want Richard to give his best estimate as well because otherwise, he may risk discrediting the association since he is a member. Competitor would want Richard to lose his client's business and would want him to refuse to increase the valuation of the property.
What Changed to Cause the Ethical Issues?
Chris Cruickshank, Wayne Garth, and Richard Romano are...

Find Another Essay On Ethical Issues in Cruickshank, Garth, & Romano Real State Company

Ethical Issues in Organ Transplantation Essay

1552 words - 6 pages whether or not it causes great risk to their life and that an individual can sell their body for financial gain, but they do not own their organs. Consequently, it could be said that in many ways, individual's personal autonomy is more or less overridden by the state, however every individual have the right to consent.The decision to donate an organ is an ethical decision that involves careful consideration about the ethical issues from the

Ethical Issues in Information System Essay

1333 words - 5 pages without access to these systems are affected in significant ways by them. New ethical and legal decisions are necessary to balance the needs and rights of everyone.As in other new technological arenas, legal decisions lag behind technical developments. Ethics fill the gap as people negotiate how use of electronic information should proceed. The following notes define the broad ethical issues now being negotiated. Since laws deciding some aspects of

Ethical Issues in e-Commerce

1574 words - 6 pages Introduction The Internet has received a great deal of attention in the media lately due to its tremendous growth in usage by both consumers and businesses. The unique capabilities of the Internet has captured the attention of the marketing community. While a growing number of companies have or are interested in developing an Internet presence, there is still a great deal of uncertainty about it and the potential ethical issues associated

Ethical Issues in Procurement Management

1317 words - 5 pages Ethical Issues in Procurement ManagementWhen people or business deal with contracting as a means of Procurement for their company, there may be issues regarding who the company will deal with. Procurement Management conducted correctly can be a valuable tool when combating this problem.The United States Government is a larger institution that relies on contractors to take care of many of the logistics necessary to keep our government running

Ethical standard in environmental issues

1485 words - 6 pages these companies, job for the company workers, income for the farmers. Rachel Carson, had argued in her book that whether the present profits of the industry and the current low prices in the vegetable aisle or the future of the birds more important? In recent years regulations have been adopted in America to curb economic freedom in order to guard the environment. Now everyone is educated and people are becoming more and more knowledgeable about

Ethical Issues in Employment Law

988 words - 4 pages who had been discriminated against, not to protect those who want to use a defense of discrimination that doesn’t apply to them. Works Cited Colorado State University-Global Campus. (2014). Module 3 – Business Organizations; Employment Law [Blackboard ecourse]. In MGT 320 – The Legal and Ethical Environment of Business (p. 1). Greenwood Village, CO: Author. Uniform Code of Military Justice. (2014). 892. ARTICLE 92. FAILURE TO OBEY ORDER OR

Ethical Issues in Medical Technology

1561 words - 6 pages patients are being overcharged for medical services. Getting rid of incentives, could help to solve the problem of uninformed patients. In turn, these patients and their loved ones will be able to make the right decisions. Another big issue in the debate of ethical issues in these life-extending technologies is the lives of the caregivers. Caregivers are most often loved ones: spouses, children etc. In many cases the patients need round the clock

Ethical Issues in Hotel Rwanda

1144 words - 5 pages even human life has to be saved through corruption. There are several ethical issues surrounding the decision by the Hutu politicians to start the genocide. It is unfair and unethical for the Hutus to blame the entire Tutsi tribe for the president’s death. The Hutu politicians are so much driven by hatred that they fail to consider the innocent lives to be lost in the planned genocide. Instead, they organize numerous Hutu militia groups

Ethical Issues in Genetic Testing

1317 words - 5 pages . Retrieved from: http://omim.org/clinicalSynopsis/143100?search=huntington%20disease&highlight=huntington %20disease Koch, D. H. (2012). Cracking your genetic code. Retrived from: http://video.pbs.org/video/2215641935/ Lea, D.H. (2005). Ethical issues in genetic testing. Retrieved from: http://www.medscape.com/viewarticle/505222_4 Mayo Clinic. (2013). Test and procedures, genetic testing. Retrived from: http://www.mayoclinic.org/tests-procedures/genetic-testing/basics/definition/prc-20014802 National Human Genome Research Institute. (2014). Frequently asked questions about genetic testing. Retrieved from: http://www.genome.gov/19516567

Ethical Issues in Athletic Training

1254 words - 6 pages No matter your career, you will eventually run into a situation where an ethical or moral decision has to be made. I am planning on going into athletic training where many ethical dilemmas will surround the health or actions dealing with athletes. Here are three different scenarios I could face as an athletic trainer and how I would resolve each ethical issue. The state championships in basketball are coming up and the boys’ team has a chance

Ethical Issues in Policy Research

1054 words - 4 pages , Cambridge, Mass.: M.I.T. Press, 1967.Horowitz, I. L., and L. Rainwater. Journalistic Moralizers, Transaction 7(7): 5-8, May 1970.Humphreys, L., Retrospect--Ethical Issues in Social Research. In Tearoom Trade, enlarged ed., Chicago: Aldine: 231, 1975.Humphreys, L., Tearoom Trade: Interpersonal Sex in Public Places, Chicago: Aldine, 1970.ItJohnson, D.J., Letter to the Editor, American Sociologist, 1: 206-207, 1966;Maiolo, J., in Footnotes 7: 1, October

Similar Essays

Ethical Issues In Research Essay

1202 words - 5 pages aggressive and non-aggressive behaviour. He carried out this research in 1961 at Stanford University. (The Psychology website, 2013). Within the experiment there are some ethical issues. The first, most important, ethical issue which was not 100% considered by the researcher, it refers to the participants right of consent. Albert Bandura, as in results he used children under the age of 16 years in his experiment. He obtained his consent from the

Ethical Issues In Management Essay

1120 words - 4 pages ).Businesses today have to face a multitude of ethical and social issues in the quest to become, and be seen as, a socially and ethically responsible business. When discussing diversity one social issue that directly ties in with ethically responsible management practices, is affirmative action. Affirmative action has been and continues to be a controversial topic and is even less popular during these times of increased unemployment and economic

Ethical Issues In Sport Essay

880 words - 4 pages accept illegal money. If the NCAA would just pay these athletes some type of payment then athletes would be less likely to break the rules of the NCAA After reading the article I now have a better understanding on different ethical issues in the sport industry from professional teams to how facilities are managed. The reading had a positive impact for the most part. The article was very interesting making me think more critically about how big the

Ethical Issues In Information Systems Essay

4412 words - 18 pages Ethical Issues in Information Systems Table of Contents 1. Introduction New Technology And New Ethical Issues 2. Networks Definition of a Network 3. Behavior on the Network New Standards of Conduct Netiquette Acceptable Use Policies Exporting Through the Networks Copyrights 4. Networks Access 5. Networks and Privacy 6. Databases Data Mosaics Data Sharing and Consequences 7. Geographic Information Systems International Data: Taking and Sharing