That is true. You're not in it for the moral digest, just for the money. So as long as that immoral organization gives you your anticipated returns, who cares what they do?
Re: Geographic distribution
mInvestor
5/15/2012 11:17:40 PM
That's what I was thinking.
Most voters are US based, so no surprise that most winners are US-based. I don't see any Chinese name or Russian name (I could be wrong). So this is the case, then I won't be surprised to see no winner from China or Russia.
Again, I am not saying the voting was biased. It is probably quite fair and good. But if the voters don't understand company and people's culture, how well they pick those winner?
Just my 2 cent.
Re: Good vs good returns
impactnow
5/15/2012 1:39:53 PM
It is always a tough decision base your investments on the bottom line or on the ethical stance of an organization. I think many will always vote with the bottom line, though personally have a group of companies I would not invest in because I do not support their business; i.e. tobacco.
Does that mean you would avoid the choice to invest in a on-the-fence company that is gettting great returns?
Re: Geographic distribution
cat tail
5/15/2012 9:37:08 AM
I wonder how the voting accounts for cultural biases among nominees or if the winners naturally reflect the values of Western cultures because that's where the Ethisphere is based.
Scoring is based on the following components:
- Ethics and Compliance Program (25%)
The criteria used for this category are fully aligned to corporate best practices, relevant case law and the "hallmarks" of an effective compliance and ethics program as outlined by the Federal Sentencing Guidelines, including:
- Program structure, responsibility and resources
- Program oversight and the tone at the top
- Written standards
- Training and communication
- Due care
- Detection, monitoring and auditing
- Enforcement and discipline
- Reputation, Leadership and Innovation (20%)
This category measures a company's legal compliance, litigation and ethical track record, along with the strength of the company's reputation in the market place.
- Governance (10%)
This category looks at the availability and quality of systems designed to ensure strong corporate governance (as defined by the U.S. Sentencing Commission, Securities and Exchange Commission and other regulatory bodies), including oversight, governance principles and risk management.
- Corporate Citizenship and Responsibility (25%)
This category reviews a wide range of a company's performance indicators associated with sustainability, citizenship and social responsibility, specifically including such areas as environmental stewardship, community involvement, corporate philanthropy, workplace impact and well-being and supply chain engagement and oversight. The quality and effectiveness of the initiatives are considered, in addition
- Culture of Ethics (20%)
This category looks at the culture of ethics at the organization concerning widely accepted or unaccepted norms as it pertains to ethical conduct.
The methodology for selecting winners was determined by an advisory board. The current members are:
- Committee Chair: Stefan Linssen, Editor-in-Chief, The Ethisphere Institute
- Max Bazerman, Professor of Business Administration, Harvard Business School
- Michael Hershman, President and CEO, The Fairfax Group
- Turney Stevens, Dean, College of Business, Lipscomb University
- Steve Churchwell, Partner, DLA Piper US LLP
- Thomas Donaldson, Professor of Legal Studies and Business Ethics, Wharton School, University of Pennsylvania
- Beverly Kracher, Professor, Creighton University
- Alex Brigham , Executive Director, The Ethisphere Institute
- Kriss Deiglmeier, Executive Director, Center for Social Innovation, Stanford Graduate School of Business
- David Logan, Co-founder and Executive Director, The Corporate Citizenship Company
- Brian Moriarty,Director, Business Roundtable Institute for Corporate Ethics
- Martin Weinstein, Partner, Willkie Farr & Gallagher
*former members of the methodology panel, beginning in 2007, included:
- Karen Paul , Professor, Florida International University
- Rama Velamuri , Associate Professor, China Europe International Business School
- Chris MacDonald, PhD, President of the Canadian Society for the Study of Practical Ethics
- Traci Melvin, Deputy Dir. Ethics Bethesda, MD
- John Dienhart PhD, Director, Northwest Ethics Network, Seattle University
- Sean Gilbert, Technical Director, The Global Reporting Initiative
- Jenny Kim, Senior Associate, Miller & Chevalier Chartered
- George W. Ash , Partner,Foley & Lardner, LLP
- Patrick Barwise, Professor, London Business School
Re: Geographic distribution
mInvestor
5/15/2012 4:59:10 AM
Who were the voters picking winners? Any Chinese or Russian?
It may tell us more if we know who were the voters.
Re: What is missing
mInvestor
5/15/2012 4:51:37 AM
Scott,
Your analysis is right on dot. There may be tons of other problems in our banking systems, but debt and lack of demand of debt is the key one.
With the whole system seized up, we won't see too much ethics here.
People like to bash the banks but what we're failing to do here is see the real problem: Debt deflation, loan demand, and interest rates.
Problem one: Everybody is deleveraging. There is little demand for new debt. Banks make a living selling debt.
Problem two: See #1.
Problem three: If there is little demand for debt either in the form of mortgages or business loans, banks have trouble making money because there is no "carry interest." That is, typically they take in deposits at 2% and led at 4%, thereby making the spread.
But what do you do when interest rates are 0%, there is little demand for mortgages or business loans? People keep saying that banks won't lend but that's actually what they are going to have to do to make any money...
With their traditional model gone (mortgages and business loans!), banks have obviously resorted to gambling. Not a pretty picture!
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