kedo -- "Modern business" is not a fair grouping. Most businesses are not shipping jobs overseas or demanding people's Facebook passwords. To damn all companies because some are being jerks is as unfair as to damn all blondes because one took your lunch money... Your commitment to being an ethical employee, or for that matter, and ethical person, should not change because there are others who do not behave ethically.
Morality is not about how others perceive you, it's about how you see yourself. Your character is measured by how you act when nobody is looking.
I would not work for a firm that demanded my e-mail password or my Facebook information. That may limit which firms I work for, but I'm okay with that trade-off. I work in a field where I have access to private health information, so I am required by law to keep my mouth (and keyboard) shut about things I learn at work. I can foresee a circumstance where a company might check my Facebook / mySpace / Google+ identifier so they can verify I am not broadcasting info illegally; but that would not involve getting my PASSWORD, only that I give them my ID and possibly "friend" a company page--but even that would be something done once I am employed. Asking for a password is arguably not even legal.
As to "they don't have to give anyone a job" -- they don't! But they also should realize that by treating job prospects a certain way, they are screening out the very applicants they should want.
This is a case where the crime creates the punishment.
Not sure what the iPad reference was about; I don't have one.