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Fame & Fortune: Bruce 'The Ethics Guy' Weinstein
Bankruptcy and other moral dilemmas of our times
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If we were lucky, these were taught to us by loving parents and concerned teachers as we grew up. In every interaction we can take a moment to think about how our words and deeds may affect other people, particularly the people we care the most about, and make our choices accordingly. We can realize that, yes, we are better off by living a moral life, but the main reason to do so is not for the personal gain, but simply because it is the right thing to do.

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Bankrate: Tipping is always a tricky matter. How do you work your way through the reasoning to arrive at a fair and ethical tip?

Weinstein: It depends on the context. In restaurants and selected other service industries (those in the front lines in the hospitality industry, such as the valet, bell captain, and the housekeeper), tips are required, because they provide a substantial portion, if not the bulk, of the employee's salary. In other occupations, tipping is discretionary, and some, like the United States Postal Service, prohibit employees from accepting tips.

Outside of areas where the standard for tipping is well-defined -- for example, one is expected to tip waiters 15 to 20 percent -- it is helpful to remember the following ethical rule: We are not ethically obligated to give money to someone who helps us, but we ARE obligated to express our gratitude. Many of us would go broke if, around the holidays, we gave a generous amount of money to everyone who made our lives easier during the year. It takes little, however, to pay a debt of gratitude in other ways: our time as a consultant, a letter of praise to the person's employer (which can make a difference when a promotion or raise are being considered), or a gift certificate for goods or services from our businesses are all ways of expressing how much one values the relationship.

Bankrate: We were a little surprised to find you condone regifting with certain reservations, when most of us feel pretty uncomfortable passing along things we received from others. When is it ethically OK to regift?

Weinstein: It is not unethical to "regift," provided that first, you make sure you don't regift to the original giver; secondly you don't use the gift first, and finally that the new recipient doesn't know the original giver or is likely to run into him or her if the gift is an article of clothing. If someone else might enjoy or be able to use a gift we don't want or need, we not only have a right to give it away; we have an obligation to do so. After all, it is wasteful not to put something to good use if we can.

Bankrate: Similarly, it's perfectly ethical to accept "freebies" under certain conditions, right? Where do you draw the line?

Weinstein: Expensive gifts from businesses that wish to curry favor with us can compromise our ability to take the needs of our customers seriously. Unless we want our clients to approach us with skepticism -- "caveat emptor" or "let the buyer beware" -- it behooves us to act honorably in all of our dealings with clients. This means that when clients ask for a recommendation for a product or service, they are counting on us to focus on their needs, not ours. If we stand to gain financially or personally by recommending company X when we know that company Y has a better product, then we may win in the short run; but not in the long run. Taking the high road, thus, isn't just the right thing to do; it's the smart thing to do, too.

 
 
Next: "It is never too late to right a wrong"
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