US officials in Philadelphia captured a cargo ship carrying over 20 tons of cocaine. The vessel appears to be owned by a fund managed by JPMorgan Chase, the world’s largest bank. According to a source briefed on the matter, the ship, the MSC Gayane, is part of a mobility plan fund managed for the bank’s wealth management section (Fiore et al., 2021). That implies that JPMorgan Chase has no effective control over the Liberian-flagged vessel, operated by the Swiss-based Mediterranean Shipping Company. The bank did not respond to a request for comment. On June 17, law enforcement authorities boarded the MSC Gayane and discovered the cocaine, a street worth $1.3 billion (Kalam, 2018). The section and JP Morgan’s continued inactivity have raised doubts about whether the bank had participated in any narcotics trafficking.
Since JP Morgan is only the owner, we should investigate whether the Mediterranean Shipping Company is blamed. The United States government is presently investigating this case. Data is essential for availing the advantage of possibilities, but assessing that data demands trust in one’s facts and encounters. Notwithstanding modern advanced technologies, evaluating any circumstance is more complex than ever. The globe has become lesser than five years earlier due to digitalization. However, Chase has proper leadership to enhance a broader perspective while we can acquire various data rapidly. Consequently, simply being a specialist in a field is not enough. An army leader must be aware of something other than tactics, just as a corporate leader must be aware of far more than economic principles. For each market, the political climate, diplomatic ties, safety, and social policy all contribute, and one can considerably impact the others. Morgan Chase leaders are excellent can see how each aspect connects and spot danger.
Morgan’s Chase is a responsible company, just like local businesses. It supports local companies by lending them the shipping vessels. It plays an active role in solving some world’s most significant issues, such as climatic changes and poverty, through its well-designated policies. Its extraordinary capability to help has a broader impact on society. The firm offered finances to facilitate action on climate change and develop global sustainability, which consists of improved access to housing, education, healthcare, renewable energy, cleaner water, waste management infrastructure, innovation, and growth.
Morgan Company, drug traffickers, and cocaine consumers are all parties in this case. Because the Gayane is a JP Morgan ship, any alleged crimes will be traced back to them. To avoid costly controversies, JP Morgan must ensure control over selecting activities taking place on board. JP Morgan’s actions would be considered ethical by an Individualist because the company was not knowingly involved in drug trafficking. Individualism believes that firms should create as much profit as possible while remaining lawful (Zuolo, 2017). JP Morgan accepts payment for accrued interest since they are renting the ship to another company. They are not compensated for the shipment of narcotics. According to a July 2019 Wall Street Journal story, the persons who profited from this were the ones who got cocaine on board.
A utilitarian would consider this immoral when considering JP Morgan’s lack of reaction. Utilitarianism believes that a business choice should be made so that everyone’s satisfaction is maximized. Considering JP Morgan possesses the vessel, they are not loading and carrying the cargo. Whenever a situation arises, such as a significant drug raid, and one’s name is linked to the crisis, one would need to reply and clear their name. Morgan, on the other hand, has not performed such an act. These clearance names may produce dissatisfaction among the public or investors, who would like to know what the corporation will say.
In this case, a Kantian would consider JP Morgan to be moral. A choice is also made logically, thinking all concerned parties in Kantian ethics (Salazar 20). JP Morgan chose one of the world’s leading transport companies since the chances of them allowing any of that to happen to be extremely remote. Even though drug trafficking via commercial boats is on the rise, blaming an organization for employing a ship would be illogical. The recipe for humanity and morality is shown within Kantian ethics. JP Morgan did not break the principle of humanism in this circumstance because they were conducting a routine business transaction and not attempting to deceive the shipping firm. The motive of an enterprise is also mentioned in Kantianism.
Morgan’s Chase ensures client satisfaction as per the organization role, which has led to improvements in the company culture. Chase also conducts employee surveys through the question-answer questionnaires with employees, which involve ethics and good conduct. The company’s efforts on culture improvement are judged to meet regulatory requirements. Because of JP Morgan’s reaction, virtue theorists are unlikely to see this as moral. A tenet centered on a person’s personality is known as virtue theory. Courage, honesty, temperance, and justice are the four main qualities. To be brave, you must be willing to stand up for justice. JP Morgan failed to demonstrate this in this situation by failing to act after the incident. They have remained mute on the subject, even though they might have issued a new report or discussed a possible alternative with the shipping firm. JP Morgan has remained silent regarding the situation, putting them in a poor light in the category of honesty. Again, releasing a statement stating that they are investigating the problem would have demonstrated honesty (Zuolo, 2017). JP Morgan has been shown the temperance trait of having reasonable anticipations.
Throughout this instance, I do not believe JP Morgan did anything improper. They are simply the vessel’s owners who have elected to lend it to a transportation firm. JP Morgan did not hire the crew who transported the cocaine on board. JP Morgan could have commented further to prove they were not just overlooking it. JP Morgan also could speak with the freight company about potential improvements to the ship’s handling, and all through the situation, the corporation operated ethically. There could be arguments that since Morgan was the ship’s owner, he needed total control over it and follow up. This argument is based on the assumption that he had a secretive relation to this transportation film. This argument is not valid because this company was responsible, fair, and integrity to survive the business environment.
Therefore, people should note that Chase only owned the ship and not the drugs. Others could argue that Morgan’s silence meant the company was responsible for the drug-dealing crime. This idea appears false because he was shocked to find a company he trusted could do such a crime behind his back. Morgan used to say he could only lend his wealth to very authorized personnel. In addition, Morgan only provides financial assistance for the ship without monitoring and functioning it and profiting from those operational processes. It illustrates that it is likely that Chase had relevant agreements demanding MSC not to do anything that puts JPMorgan’s $90 million ships at risk.
References
Del Fiore, J., Persico, V., Merindol, P., Pelsser, C., & Pescape, A. (2021). The art of detecting forwarding detours. IEEE Transactions On Network and Service Management, 18(3), 3619-3632.
Kalam Azad, A. (2018). An innovative algorithmic approach for solving profit maximization problems. Mathematics Letters, 4(1), 1.
Zuolo, F. (2017). Equality, its basis and moral status: Challenging the principle of equal consideration of interests.International Journal of Philosophical Studies, 25(2), 170-188.