The darling of Wall Street, Biotech, took a plunge after a Hedge Fund Manager turned Biotech CEO didn’t bother investing in cutting edge miracle cures. Instead he took a 62-year-old critical anti-parasitic pill costing $13.50 and raised the price 5000% to $750, bringing the threat of government intervention to the forefront. Volkswagen is about to pay for their “emission cheat”. So what happens when the actions of one of your own threatens your industry? After 2009, Real Estate Professional Association meetings began to sound like revival meetings where over-development and urban sprawl gave way to sustainable development and corporate mission statements. Business ethics were touted in discussions with “Socially Responsible Companies” the likes of Toms Shoes and Patagonia. A lot of credit goes to our Professional Associations for inspiring our industry to not only be responsible for the bottom line but for building the future.
September 23, 2015