Trust Digest 2 (May 4, 2013)

JPMorgan and The Death of Corporate Reputation
All the big financial firms like Goldman Sachs, UBS, Citibank, Bank of America, and JPMorgan Chase, have settled cases involving not just shady practices like price gouging, gaming the system, toll collecting, zero-sum trading and excessive compensation but also illegal practices such price fixing of LIBOR, abuses in foreclosure, money laundering of drug dealers and terrorists, assisting tax evasion and misleading clients with worthless securities. The cases were settled for what is chump change to the banks, without admitting or denying wrongdoing.
Key Words: Manipulative Schemes, False And Misleading Statements
Trust Issues: Integrity, Ethics, Transparency, Responsibility, Reputation, Accountability

How Listening To The Customer Translates Into Loyalty
There is no universal approach to winning customer loyalty, but the best way to start is by providing a solid customer experience that makes the consumer feel valued. 
Key Words: Customer Loyalty, Brand Loyalty
Trust Issues: Communication, Reputation

EU Weighs Repo Rules If ECB Plan Fails to Boost Transparency
The European Union is considering legislation to boost oversight of repurchase agreements should moves by the European Central Bank to set up a transactions database fail to allow regulators to discover risks building up in the financial system.
Key Words: Repo Trades, Risk Concentration, Property Rights
Trust Issues: Transparency, Responsibility, Accountability

Merkel urges more transparency in clothing production
German Chancellor Angela Merkel on Friday urged greater transparency about where and how clothing is produced after the collapse of a garment factory complex in Bangladesh killed more than 500 people.
Key Words: Environmental And Labor Protection Standards, 'Fair Trade' Label
Trust Issues: Transparency, Integrity, Ethics

Work safety in global supply chain should concern all of us
We are all participants in and users of global supply chains undefined which on the one hand tie the world together as never before, but on the other can produce tangled webs of irresponsible contracting practices. All too often it takes a tragedy to make us see injustice. How can the injustice of Savar be confronted and overcome?
Key Words: Global Supply Chains, Irresponsible Contracting Practices
Trust Issues: Responsibility, Accountability


What taxpayer bailouts? Euro crisis saves Germany money
Throughout Europe's debt crisis, northern European leaders have often said they will not stand for taxpayers having to fork out for other countries' problems, and the notion of "taxpayer-funded bailouts" has taken root.
Key Words: Europe's Debt Crisis, Anti-Bailout Sentiment
Trust Issues: Responsibility, Accountability

All S&P 500 Companies But One Disclose Some Sustainability Activity
Almost all of the top 500 publicly traded U.S. companies annually disclose information on their sustainability performance, but very few combine sustainability and financial performance data, according to a report released April 29 by the Investor Responsibility Research Center Institute (IRRCI) and the Sustainable Investments Institute (SI2).
Key Words: Corporate Sustainability Reporting
Trust Issues: Transparency, Accountability, Communication

Wal-Mart's grand, green plans to reduce prices
Wal-Mart has taken on a massive green project. CEO Mike Duke said, in 2009, that the retailer would build a sustainability index to track the environmental impact for the entire life cycle of every single product it sells.
Key Words: Sustainability Index, Environmental Impact
Trust Issues: Responsibility, Accountability

How Taxes Can Drive Sustainability
The inaugural KPMG Green Tax Index measures how countries are using taxes to influence corporate sustainability behavior. The index, which ranks each country’s green-tax incentives and tax penalties, shows which areas of the world are the most tax-friendly for corporate sustainability initiatives.
Key Words: KPMG Green Tax Index, Sustainability Investments
Trust Issues: Responsibility, Accountability, Transparency

U.K. Banking Commission Member Proposes Ethics Exams in Finance

The U.K. panel investigating the behavior and practices of banks may call for mandatory ethics exams for workers in the industry, one of its members said.
Key Words: Mandatory Ethics Exams, Code Of Conduct
Trust Issues: Ethics, Integrity, Accountability, Responsibility

Moody’s, S&P Settle Negligence Lawsuits Over Debt Vehicle Ratings
Moody’s Investors Service and Standard & Poor’s on Friday said they have settled two long-running lawsuits seeking to hold them responsible for misleading investors about the safety of risky debt vehicles that they had rated.
Key Words: Risky Debt Vehicles, Negligent Misrepresentation
Trust Issues: Accountability, Integrity, Ethics, Responsibility


A More Transparent Future for Businesses
Transparency, one of the biggest buzzwords in business right now, is about conducting business in an open and forthright way, and it is driven by recent trends in technology, society and financial markets.
Key Words: Internal transparency, External transparency
Trust Issues: Transparency, Reputation, Stakeholders


Reputation Management: When Your Business is Disparaged Online

As public-facing feedback forums gain increasing audience and traction, there’s an important lesson emerging: Consumer forums can be your company’s best friend or worst enemy. If you’re not proactively monitoring the tide of opinion, it may be too late to save a sinking brand.
Key Words:  Reputation management, Tax-Avoidance Schemes And Libor-Rigging
Trust Issues: Reputation, Accountability, Responsibility

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