Since the last edition of this book was published, the world has changed. The last edition was published amidst the fallout from the legal, ethical, and, too often, financial collapses of Enron, WorldCom, Adelphia, HealthSouth, Parmalat, Arthur Andersen, Kmart, and others. With Sarbanes-Oxley on the books and new regulatory demands on corporations, we thought perhaps we had turned the comer. But we are now reeling from the fallout of a subprime mortgage market operating under regulatory radar without a great deal of disclosure on portfolio risk. As of press date, the SEC is investigating stock options backdating at over 150 companies, including even Apple Computer. The NBA has had a scandal with one of its referees, major league baseball has everything from grand juries to Congressional hearings on player steroid use, and the NFL finds one of its star players entering a guilty plea to federal charges related to dog fighting. Members of Congress have entered guilty pleas to everything from accepting payoffs to wire fraud. The issues of law and ethics are still at the forefront of business, sports, and government. It has become a tall order just to keep up with all the events!