THE attempt by accountant Arthur Andersen to educate the world about business ethics has hit a minor hiccup, with one of the people heavily involved in its Ethics in Business video getting four years in prison last week. It's tough luck for the accountants, particularly as no staff members were implicated in any way. We were alerted to this by Professor Bob Tricker, something of an ethics man himself over at Hong Kong University's Business School, who was in turn warned by an academic in the US. In its Ethics in Business video, Andersen conducts an in-depth interview with Stew Leonard, chief executive officer of Stew Leonard's Dairy in the US. His flamboyant style won him the title ''the Walt Disney of Grocers'', but a local newspaper has since re-labelled him ''a genius of criminal deception'' after details leaked out about America's largest computer-driven tax fraud, with US$17 million beingskimmed into the pockets of Leonard and three of his colleagues over 13 years. ''Due to Leonard's extensive involvement in the video, it is not possible to salvage the tape through editing,'' Arthur Andersen said. ''How do I get hold of a copy of the video?'' Professor Bob asked. Hard luck, Professor Bob - they've stopped making the tape. Andersen added: ''This unfortunate development underscores the urgency of our collective efforts to advance the case for integrating the ethics focus into business courses.'' Maybe they should keep the video in production. After all, Stew will be 67 when his term ends, and his example may help keep other people on the straight and narrow. Keep us abreast OVER at Cathay Pacific's freight division, testosterone has beaten brain-power. The magazine that's sent to customers, Cargo Clan, has long been famous for the semi-clothed female it displays as a soft-porn centre-spread, dubbed the ''Freight Mate''. The latest issue of the magazine includes a reader survey. Do the readers want to keep the Freight Mate? Yes, said 88 per cent. What do the readers think is the most interesting part of Cargo Clan? Number two was the Freight Mate. Number one, incidentally, was the Agent Spotlight, which this issue focuses on managers of freight companies in Sri Lanka. Because they are men, they're allowed into the mag with clothes on. Up and up THE bid for the World Trade Centre Group (WTCG) by a mainland enterprise gets more weird every day. Yesterday, the price of WTCG shares rose four cents to the magic figure of $1.96 in the last 15 minutes of trade, reaching that level for the first time since July. The figure is magic because that's the price at which a consortium led by Ceroil - a mainland food giant with a huge appetite for Hong Kong-listed companies - is supposed to be making a bid. The bid is conditional on the approval of minority shareholders in Tomson Pacific, which controls WTCG at present. Given that the bid will only materialise if Tomson shareholders vote yes on November 11, someone somewhere reckons they know something. WTCG has the rare distinction, even by Hong Kong standards, of having had three investigations at the same time into the company and its shareholders. The biggest is the probe by an inspector appointed by the Financial Secretary. We've heard that the final report is running neck-and-neck with the 688-page Allied Group report in terms of pages. This is impressive, as it's costing only $10 million-ish instead of $40 million-ish. If the writers find themselves a few pages short of the record, they'd do everyone a favour by creating an index. Miles out TWENTY-four hours after China Airlines managed to overshoot the runway with CL605 from Taipei, David Parry of Discovery Bay was coming in to Kai Tak on the exact same route and timing. He was confident lightning wouldn't strike in the same place twice, until he looked up at the giant computer display which the new 747s give passengers. As the wheels touched the runway, the distance-to-destination indicator said there were three kilometres to go. Fortunately, the pilot did not assume the runway was three kilometres long. Shear ill-luck IT'S looking increasingly like one cause of that jet's splashdown was wind shear. Appropriately, we found out yesterday that one of the thousands of people who suffered from Kai Tak's closure was Dr John McCarthy, director of the research applications programme of the US National Centre of Atmospheric Research, and regarded as one of the world's top wind-shear experts. His plane was diverted to Tokyo. Below the belt THE Stock Exchange has a new disclosure sheet directors must sign and send to the exchange when they go on the board of a listed company. If you're joining the board of a listed company this week, our tip is to answer ''no'' to Question 10. That's the one that asks: ''Are you now or have you ever been a member of a triad or other illegal society in Hong Kong or elsewhere?''. The signature has to be witnessed by a ''pubic commissioner for oaths'', it says. Guess this must be to ensure full disclosure. Wis-con-sin A FRIEND has just returned from cowboy country Wisconsin, and brought back some traditional handicrafts from a Native American reservation. Only after she had bought them did she discover the ''Made in China'' labels on the back.