Trust Digest February 9, 2013

Snowstorm Crisis Lessons: Eight Steps for Maintaining Trust during Natural Disasters
Responsibility without authority is one of the worst situations a leader can face, they say in the military. And, if you think about it, snowstorms and other acts of God are the epitome of responsibility without authority. The leader has responsibility, but a lot of the authority is in the hands of nature. How can leaders prove their mettle? Here are eight suggestions, culled from years of crisis (man-made and God-made) advisory work:
Key Words: Natural Disasters, Responsibility
Trust Issues: Integrity, Competence, Benevolence, Communication

Standard and Poor's Lack of Integrity Will Be Exposed 
After an unconscionably lengthy period of time, the dogged sleuths at our Justice Department finally are seeking some accountability from Standard and Poor’s (S&P) over their role in the housing meltdown. In a civil lawsuit against S&P announced by Attorney General Eric holder, our government is seeking the nice round number of $5 billion.
Key Words: Justice Department, Conflicts of Interest
Trust Issues: Integrity, Ethics, Accountability, Competence

Italian Oil Giant Caught Up in Corruption Investigation 

The Italian oil giant Eni said Thursday that Milan prosecutors had expanded their investigation of alleged corruption in Algeria involving Saipem, the company’s oil services subsidiary, to include ENI itself and its chief executive, Paolo Scaroni.
Key Words: Corruption, Financial Services Authority
Trust Issues: Ethics, Integrity, Transparenc

Greed and Dishonesty Laid Bare as Scale of Libor Rigging Revealed
More than 10 City workers are under investigation by the Financial Services Authority for rigging Libor, a top regulator said after Royal Bank of Scotland was fined £390m for manipulating the key benchmark rate.
Key Words: Cartel, Rigging
Trust Issues: Ethics, Integrity, Transparency, Accountability

One-Third of Companies Report Profits from Sustainability: Survey
A total of 37 percent of companies surveyed reported profits from their sustainability efforts, compared to 31 percent the previous year, according to the 2012 research report, The Innovation Bottom Line, which was released Feb. 5.
Key Words: Sustainability Efforts, Critical Sustainability Trend
Trust Issues: Transparency, Accountability

Burger King U.K. Reputation Damaged By Horsemeat Scandal

Burger King has been dealing with a firestorm of controversy after being one of the many players affected by the horsemeat-in-burgers scandal currently plaguing Europe.
Key Words: Controversy, Brand's "Buzz Score"
Trust Issues: Reputation, Accountability, Transparency

HSBC Reputation ‘Crushed’ by Mexican Money Laundering, CEO Says

HSBC Holdings Plc’s reputation was “crushed” after it agreed to pay $1.92 billion to settle U.S. probes of money laundering in places such as Mexico, Chief Executive Officer Stuart Gulliver said.
Key Word: Money Laundering
Trust Issues: Integrity, Accountability, Reputation, Transparency

5 Most Publicized Ethics Violations by CEOs

High-profile downfalls of corporate CEOs are not a new phenomenon. Here are five of the most public and egregious CEO ethics failures.
Key Words: CEO Ethics Violations, Fraud, SEC
Trust Issues: Ethics, Integrity, Honesty

California accuses S&P of deception in $4-billion lawsuit

California will seek $4 billion in damages after S&P’s ratings cost state pension funds what it estimates are about $1 billion in losses. The state can seek triple damages, along with penalties, under the False Claims Act.
Key Words: Deception, Mortgage Crisis’ Key Actors
Trust Issues: Ethics, Integrity, Honesty, Accountability

Friend Finder or Location Tracker? Facebook’s Trust Problem, Visualized

Facebook is working on a smartphone app that can track your location, Bloomberg reports. Or if you want to use spicier terminology, it’s working on a “location tracker.” Everybody panic! I’ve got some terrible news: Your smartphone can already do this.
Key Words: Privacy, Facebook, Federal Trade Commission
Trust Issues: Ethics, Transparency

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