Trust Digest 15 (August 3, 2013)

Does Your Business Leadership Style Rely on Fear?
All entrepreneurs have to take risks and provide leadership to succeed, but driving yourself and your team with fear is not the answer. The best leadership is providing real motivation from the work itself, and the drive to build something lasting. Fear has no role in either of these.
Key Words: Leadership Style, Fear
Trust Issue: Communication

Did The CFTC Do The Right Thing With EC Swaps Deal?

Is the CFTC’s recent deal with the European Commission on swaps regulation a bad deal? Recent press coverage maintained that outgoing CFTC Chairman Gary Gensler caved to the wishes of Europeans and big swap dealer banks.
Key Words: The Commodity Futures Trading Commission (CFTC), speculation
Trust Issues: Responsibility, Accountability

How The Financial Crisis Helped Turn Big Banks Into Global Commodities Kings
Wall Street's biggest banks are currently under the gun for their massive role in global commodities markets. But what many don't realize is the vast expansion of that role was, in large part, an unintended consequence of the chaos of the financial crisis. Without the financial crisis, Wall Street's legally designated, FDIC insured, bank holding companies (FHCs) would not have had the opportunity to build massive portfolios of oil, natural gas, metals and more.
Key Words: Global Commodities Markets, Gramm-Leach-Bliley Act, Bank Holding Companies Act (BHCA)
Trust Issues: Responsibility, Accountability

Trust and the Tax Man
What will it take to restore trust in the Internal Revenue Service? President Obama is hoping that a personnel change might help.
Key Word: Restoring Trust
Trust Issues: Accountability, Responsibility

Europeans Lose Trust in Governments
Years into an economic crisis that has rocked the eurozone, European citizens are losing trust in their governments. A recent survey found that trust in political parties is at an all-time low with up to 90 percent in some countries saying politicians are affected by corruption.
Key Words: Global Corruption Barometer, Reputation
Trust Issues: Transparency, Integrity, Ethics

Big Rewards Beckon in Angola, but Little Transparency
Hot to tap into Angola's booming oil economy for over a decade, foreign investors are finally seeing the country open up new financial avenues. But will woeful transparency and corruption thwart them?

Key Words: Corruption, Transparency, Opaque Finances, Pervasive Graft
Trust Issues: Integrity, Ethics

Sustainability Reporting Guidelines
The Sustainability Accounting Standards Board on Wednesday offered guidelines for the health-care industry to set consistent metrics for reporting environmental, social and governance data in their annual reports.
Key Words: Sustainability Accounting Standards Board
Trust Issues:
Communication, Reputation

Healthy Lifestyle Ads From Big Soda: Hypocritical or Helpful?
Social responsibility campaigns are nothing new to corporations undefined especially those whose actions or products don’t exactly promote admirable or healthy goals. But do these tactics work? Can doing good offset the negative impact that sugared sodas or calorie-dense processed foods, for example, have on the national waistline?

Key WordsFast Food Industry, Social Responsibility Campaigns, Hypocrisy
Trust Issues: Transparency, Benevolent Concern, Ethics
Bank of America May Face New Round of Financial Crisis Charges
Bank of America has a whole new set of legal headaches. The firm revealed in its quarterly report Thursday that staff at the Department of Justice have said they plan to file civil charges against Bank of America in relation to "one or two" of its jumbo prime mortgage securitizations.
Key Words: Civil Charges, Jumbo Prime Mortgage Securitizations
Trust Issues: Integrity, Ethics, Responsibility, Accountability

Directors Putting Reputation Before Profit
Reputational risk is now seen as a critical company-wide concern with three quarters of finance leaders claiming their company was prepared to lose profit in the short term for the sake of protecting its long-term reputation.
Key Word: Reputational Risk
Trust Issues: Reputation, Transparency

Why Values Matter at Work
Why do ethics matter in the workplace and what should you do, as an employee, if you find yourself facing an ethical dilemma?
Key Word: Whistle-Blowing Process
Trust Issues: Ethics, Integrity, Values

Firms That Build Trust Are Reaping the Rewards
Trust has always been an important feature of every economy. In fact, our whole monetary system is based on trust and a promise to pay. So, it is probably surprising that so many business people have played fast and loose with such an important currency.
Key Words: Catalyst, Customer-Centric Organizations
Trust Issues: Communication, Competence

Twitter Transparency Report Shows Growing Government Demand for Data
Twitter said on Wednesday that the U.S. government continues to make the most requests for information about the social network’s subscribers in a growing pursuit of data that has sparked protest by Internet firms.
Key Word: FISA Foreign Intelligence Surveillance Act
Trust Issue: Transparency

Leadership Lessons from the Pontiff
What shoes the Pope wears may seem trivial. Except business and politics are full of cases where such details, accurately or not, are perceived to reflect deeper truths about leaders. Especially early on.

Key Word: Organizational Leadership
Trust Issues: Leadership, Ethics
Michelin Overcame Cultural Gulf at Shanghai Joint Venture
Bertrand Ballarin moved from France in 2008 to take the role of plant manager. Michelin’s head office was pressing him to implement its own management system of daily production (MDP) to try to improve the factory’s performance.…He had to make changes at the factory before the MDP could be implemented, but at a pace that would be palatable to both his reluctant employees and his anxious bosses at Michelin headquarters.

Key Words: Communication, Cultural Differences, Trust
Trust Issue: Communication

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