Trust Digest 65 (September 23, 2014)


eBay Under Pressure as Hacks Continue
Leading security researchers have called on eBay to take immediate action over dangerous listings, as the problem continues to put users at risk. The BBC has now identified more than 100 listings that had been exploited to trick customers into handing over personal data. Over the weekend, readers got in touch with the BBC, saying they had attempted to warn eBay about the problem. The company said it would "continue to review all site features and content".
Key Words: eBay, Cyber-security
Trust Issues: Responsibility, Capability, Transparency


New Reading on Chevron’s Epic Ecuadorean Legal Battle
The epic legal battle between Chevron Corp. and plaintiffs who sued the oil giant over decades-old contamination in the Amazon is nothing if not convoluted. From the original 1993 lawsuit to the U.S. court ruling this spring that found a record $9.5 billion verdict against Chevron in Ecuador was fraudulently obtained, the dispute has spanned continents, consumed millions of dollars and spawned lengthy articles attempting to unpack who did what to whom. It ain’t over yet.
Key Words: Ecuador, Chevron, Corruption, Pollution
Trust Issues: Integrity, Sustainability, Alignment of Interests


Roger Goodell News Conference Doesn't Inspire Trust
At a news conference Friday in New York intended to restore the NFL's integrity, Commissioner Roger Goodell churlishly turned a legitimate question about the league's independent investigation into an admonishment of a respected reporter. At the same news conference in which Goodell promised transparency, he refused to say whether he had been interviewed by former FBI Director Robert Mueller, who is leading the internal probe. At a time when Goodell badly needed to regain his credibility, it took another hit.
Key Words: Roger Goodell, NFL Scandals
Trust Issues: Capability, Accountability, Integrity


China Clamps Down on Web, Pinching Companies Like Google
Google’s problems in China just got worse. As part of a broad campaign to tighten internal security, the Chinese government has draped a darker shroud over Internet communications in recent weeks, a situation that has made it more difficult for Google and its customers to do business.
Key Words: China, Google, Internet Censorship
Trust Issues: Transparency, Regulation, Communication


Banks Hope for Ballot Blow to Dodd-Frank
Banks hope that a Republican takeover of the US Senate could provide the first real prospect of changes to the Dodd-Frank financial reform act, five years after the landmark bill was approved. This prospect is heightened by the possibility that Senator Richard Shelby, a Dodd-Frank critic, will take over the Senate banking committee if Republicans gain the upper hand in the closely fought November elections.
Key Words: Frank, 2014 Midterm Elections, U.S. Banking
Trust Issues: Regulation, Alignment of Interests


Slamming a Door on Hedge Funds
Are public pension funds over their crush on hedge funds? Looking for better returns, public pension funds in recent years have been socking away money in those lightly regulated vehicles. Some pension overseers have criticized this trend, but they have been few in number and have often been drowned out by hedge fund proponents. Those overseers’ arguments, however, are sound: Hedge funds, with their high fees, secrecy and recent underperformance, are inappropriate investments for most funds charged with providing retirement and other benefits to former workers.
Key Words: Hedge Funds, Pension Investment
Trust Issues: Transparency, Alignment of Interests, Integrity


Rockefellers to Switch Investments to 'Clean Energy'
Heirs to the Rockefeller family, which made its vast fortune from oil, are to sell investments in fossil fuels and reinvest in clean energy, reports say. The Rockefeller Brothers Fund is joining a coalition of philanthropists pledging to rid themselves of more than $50 bn (£31 bn) in fossil fuel assets.
Key Words: Rockefeller Brothers Fund, Clean Energy, Global Divest-invest
Trust Issues: Sustainability, Integrity


How Trustworthy Leaders Behave
It can be easy to trust too quickly, especially when a leader is affable, has an impressive résumé, and tells you what you want to hear. In 30 years of surveying senior executives, social psychologist Roderick Kramer has found that 8 out of 10 report being burned at least once because they trusted too much or put their faith in the wrong person at some point in their careers.
Key Word: Leadership
Trust Issues: Communication, Competence, Benevolence


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