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April, 2007

 

ITT’s mistake Blue Ridge Business Journal, April 23, 2007 By Michelle Long
	Breaking trade laws may be more likely than you realize, according to John Huddle, CEO and practicing attorney with The Global Law Group in Richmond. "At the core of the ITT situation," Huddle says, "it is a matter of the 'ethics' of companies and employees, but to me the real solution is effective planning and execution." Compliance is not enough. Compliance training programs are not enough agrees Patricia Werhane, Ruffin professor of business ethics at the Darden Graduate School of Business Administration at the University of Virginia. "You need compliance programs, but there is a lot of data indicating that you need ethics programs, so that people ask the right questions," she says.
Kicking the Guidance Habit   CFO.com, April 10, 2007 By Sarah Johnson
	When it became fashionable for CFOs to provide investors with quarterly earnings guidance in the mid-1990s, they may not have realized that the practice would become habit forming. It's a practice that has worked for Progressive Insurance, which releases monthly reports on key operating statistics. "Ironically [Progressive Insurance] actually provide more information more frequently and [the information is a] higher quality," explains Dean Krehmeyer, executive director of the Business Roundtable Institute for Corporate Ethics, which released a report on earnings guidance last year.  (Also appeared in TMCnet.com.)
UW class looks at balancing profit with workers' needs Seattle Post-Intelligencer , April 9, 2007 By Christine Frey
	The projector screen displays two words: ethics. Business. "What do you think of when you think of these two words?" University of Washington business professor Thomas Jones asks the approximately 40 graduate students at his recent lecture. In this course about the contemporary U.S. workplace, graduate students in business and social work have come together to explore how the workplace can best function for employers and employees. It is the first class at the UW that brings together the School of Social Work and the Business School and encourages interaction across the disciplines.
Quarterly guidance drawn, quartered   Financial Week , April 9, 2007 By Andrew Osterland
	During 3M’s fourth-quarter earnings conference call on Jan. 30, CEO George Buckley didn’t give any guidance on the company’s first-quarter earnings. And he won’t give any for the second quarter when the company reports on April 26. Mr. Buckley joins a growing number of corporate chieftains of public companies who are choosing not to give specific guidance on quarterly earnings. The Chartered Financial Analyst Institute, which represents investment professionals and analysts, is the latest organization to chime in. The institute, along with the Business Roundtable Institute for Corporate Ethics, released a report last week titled “Apples to Apples: A Template for Reporting Quarterly Earnings.”
New Chair of Business Roundtable's Corporate Governance Task Force Directors & Boards, April 7, 2007
	Business Roundtable, an association of 160 chief executive officers of leading U.S. corporations, named Anne M. Mulcahy, chairman and CEO of Xerox Corp., to be the next chairman of its Corporate Governance Task Force. She succeeds Steve Odland, chairman and CEO of Office Depot, who led the task force for three years.
Think tanks urge standardized US quarterly reports Reuters News, April 2, 2007 By Sarah Coffey
	Two influential think tanks on Monday recommended that U.S. companies adopt a standard template for announcing quarterly earnings, saying clearer financial information would help stem short-term trading bets that might miss the big picture. The report from the Business Roundtable Institute for Corporate Ethics, comprised of U.S. business and academic leaders, and the CFA Centre for Financial Market Integrity asks that companies go beyond government regulations and standardize the way quarterly earnings reports are disseminated. (This article also appeared in the following outlets: CNBC, WUSF 89.7 FM Tampa,  WNPR - Connecticut Public Radio, Lincroft WBJB (NJ), WBUR-FM Boston, KRCL-FM / Concerning Lesbians & Gays, Hackettstown WNTI (NJ), Alaska Public Radio Network,  KUNI Public Radio (IA), Portales KENW (NM), WCQS (FM) 88.1 (NC), New Hampshire Public Radio, WNCW (FM) 88.7 (NC), Yahoo! News, TMCnet.com, EthicsWorld.com, Pensions & Investments, and Chicago Tribune.)

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