Ethics and Bird Flu
Not sure how to think about this. Maybe some of you out in the blogosphere can help me think through this ethical "mindfield".
Here is the situation:
I am on the board of a biotech firm that develops a vaccine for bird flu.
I leave that position to return to government service (at a very high level) where I have a voice in how our government responds to this possible pandemic including whether or not to stockpile vaccine, and perhaps any plans to ration that vaccine.
I retain a significant number of shares in the company I left.
I sell some of those shares after several years reaping a capital gain of $5 million still keeping a large number of shares (about $25 million).
The stock price in that company has soared in the past year, so that position has improved significantly.
By the very nature of my position, I still can have an indirect influence on government policy about purchasing these vaccines, even though I recuse myself from “participating in any particular matter when the matter would directly and predictably affect [my] financial interest [in the company]".
Here are a few questions for you to help address my situation (feel free to add your own):
When I decided to enter into government service, should I have placed all such assets in a blind trust to avoid the appearance of any conflict of interest?
If there is an outbreak of bird flu such that I receive an unimaginably larger windfall from my investment in the company, should I keep those profits, or should I give them to charitable organizations that are chartered with serving those who might have been harmed by this epidemic? Or is it just a matter of being in the right place at the right time, and willing to risk capital to garner reward?
Here are a few questions for you, the readers:
Does it matter how much wealth I have not counting my holdings in this company?
Does it matter what my name is?
Here is a link to the article that stirred this inquiry.