Trust Digest 67 (October 10, 2014)

Secret Service Director Pierson Resigns
The head of the Secret Service resigned under pressure Wednesday after a series of embarrassing stumbles that outraged lawmakers, caught the White House by surprise and called into question the security of the president. Julia Pierson’s resignation marks the end of a swift fall for a Secret Service chief who assumed the job just 18 months ago and was hoping to restore prestige and discipline to an agency grappling with a slew of disconcerting scandals. Instead, another hit: An armed intruder last month scaled a White House fence and darted deep into the executive mansion.
Key Words: Secret Service, Julia Pierson, Security
Trust Issues: Capability, Responsibility

The Cost of Cancer Drugs
Cancer is so pervasive that it touches virtually every family in this country. More than one out of three Americans will be diagnosed with some form of it in their lifetime. And as anyone who's been through it knows, the shock and anxiety of the diagnosis is followed by a second jolt: the high price of cancer drugs.
Key Words: Cancer, Pharmaceuticals Industry
Trust Issues: Benevolent Concern, Transparency

Libyans ‘Taken for a Ride’ by Goldman Sachs, Court Hears
The Libyan Investment Authority was “taken for a complete ride” by Goldman Sachs bankers over nine financial transactions which allegedly realised upfront profits of $350m for the investment bank, the High Court has heard. The Libyan Investment Authority was setting out allegations made in a $1bn lawsuit filed by the LIA against Goldman Sachs in which it alleges the bank exploited the $66bn wealth fund’s limited financial experience and encouraged it into risky and ultimately lossmaking investments.
Key Words: Libya, LIA, Goldman Sachs
Trust Issues: Integrity, Communication

Shareholder Activism, Stringent Disclosures Helps India Improve Corporate Governance Score
Increasing shareholder activism and stringent disclosure requirements under the new Companies Act have helped India improve its corporate governance score. While the score has improved three percentage points to 54% in 2014 from 2012, India's rank has remained seventh on the 11-nation list topped by Hong Kong, a CLSA report has said.
Key Words: India, Corporate Governance, Companies Act
Trust Issues: Regulation, Transparency

White House Praises Joe Biden's Ability 'To Admit When He's Made A Mistake'
Vice President Joe Biden has made a series of headline-making gaffes in recent weeks, but on Monday, the White House insisted Biden is still a "core member of the president's national security team" in spite of his controversial comments. White House Press Secretary Josh Earnest made his defense of Biden in his daily press briefing on Monday after ABC News' Jonathan Karl asked how President Barack Obama responds to "to his vice president going out and continually needing to apologize for things he's said."
Key Words: Trust Repair, Joe Biden
Trust Issues: Communication

There Was no Big Agreement, but Plenty of Progress at the UN Climate Summit
More than 125 heads of state — along with government officials, CEOs and NGOs — gathered at the UN’s Climate Change Summit late last month to reaffirm their commitment to curtailing climate change and their global plans for action. Yet no international agreements were signed and no binding promises were made — those will have to wait until the formal Paris Summit at the end of 2015. So, was anything accomplished? Jennifer Morgan, a long-time global warming negotiator and director of the Climate and Energy Program at the World Resources Institute, says yes.
Key Words: UN Climate Summit
Trust Issues: Sustainability, Communication

Hong Kong Federation Of Students: We'll Talk, But Leung 'Betrayed People's Trust'
The Hong Kong Federation of Students, one of the groups leading the huge pro-democracy protests, accepted the government’s proposal for talks in a letter published early Friday Hong Kong time. The HKFS said it will meet with Hong Kong Chief Secretary for Administration Carrie Lam, but promised to “continue its occupying movement until genuine universal suffrage comes to light,” and took more shots at Chief Executive Leung Chun-ying.
Key Words: Hong Kong Federation of Students, HK Democracy Protests, China
Trust Issues: Communication, Alignment of Interests

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