Trust Digest 63 (September 9, 2014) 


Community Engagement is Not About Being Nice; It’s Fourth Pillar of CSR
Sustainability, CSR, or whatever you wish to call it is made up of a range of critical business considerations. The traditional model includes the broad pillars of workplace, marketplace and environment. Workplace speaks of topics such as equality, diversity, skills and employee engagement. Marketplace includes – but is not limited to – supply chain issues and the impact in society (positive and negative) of products and services. Environment refers to global concerns around natural assets such as carbon and water. All of these issues are to be taken seriously by business.
Key Words: Community, CSR, Customer Relations
Trust Issues: Communication, Sustainability


GM CEO Mary Barra Takes Responsibility For 'Broken' Culture
GM CEO Mary Barra spoke with CNBC's Phil LeBeau on Monday and took full responsibility for the giant carmaker's massive recalls, now topping 2.5 million vehicles. You have to admire Barra for her willingness to take this hit, over and over again. LeBeau more than gave the first female CEO of a major automaker an opening to blame GM's recall debacle on that perennial easy target: middle management. Barra was having none of it.
Key Words: Mary Barra, GM, Culture
Trust Issues: Accountability, Responsibility


U.S. Group Says China Could Be Violating Trade Accords
A United States business group said on Monday that China’s recent aggressive enforcement of its antimonopoly law could be a violation of its trade agreements, a claim that potentially raises the stakes in a recent pushback among foreign companies that say they are being discriminated against in China.
Key Words: China, Trade Agreements, Anti-Trust Laws
Trust Issues: Alignment of Interests, Communication


Qatar’s Support of Islamists Alienates Allies Near and Far
Standing at the front of a conference hall in Doha, the visiting sheikh told his audience of wealthy Qataris that to help the battered residents of Syria, they should not bother with donations to humanitarian programs or the Western-backed Free Syrian Army. “Give your money to the ones who will spend it on jihad, not aid,” implored the sheikh, Hajaj al-Ajmi, recently identified by the United States government as a fund-raiser for Al Qaeda’s Syrian affiliate.
Key Words: Qatar, Syria
Trust Issues: Alignment of Interests, Communication


Mathew Martoma Sentenced To 9 Years For 'Most Lucrative' Insider Trading Scheme In History
Former SAC portfolio manager Mathew Martoma was sentence to nine years in federal prison insider trading, CNBC's Kate Kelly reports. He also has to pay a $9 million fine. Back in Feburary, Martoma was found guilty on three counts —two securities fraud and one conspiracy.
Key Words: SAC, Insider Trading
Trust Issues: Regulation, Accountability, Integrity


Lew Says Decision Near on Corporate Tax Actions
Treasury Secretary Jacob J. Lew said on Monday that he would decide “in the very near future” what regulatory action the Obama administration can take — given the partisan paralysis in Congress — to close some tax loopholes and reduce incentives for multinational corporations to incorporate in other countries to avoid taxes in the United States.
Key Words: Tax Inversions, U.S. Treasury
Trust Issues: Regulation, Alignment of Interests


Governments Need to Regain Trust of the Governed
Governments have lost the trust of the very people they aim to serve. Edelman’s 2014 trust barometer reveals a continued lack of public trust in government — with lower global levels of trust than for nonprofit organizations, businesses and media. According to Edelman’s 2014 analysis, “Trust in government fell globally 4 points to an historic low (44 percent) making it the least trusted institution for the third consecutive year.”
Key Words: Edelman Trust Barometer, Trust in Government
Trust Issues: Capability, Accountability


Low Public Trust in Business ‘Does Not Extend to Workers’ Own Firm’
Employees trust their employer more than businesses in general, a survey by the Confederation of British Industry (CBI) has revealed. This finding was shared at the launch of a new CBI campaign, ‘The Great Business Debate’, which is designed to help tackle the public’s lack of confidence in business. The campaign will consist of an online forum as well as a series of public-facing events.
Key Words: Trust In Business, CBI, UK Business
Trust Issues: Benevolence, Communication


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