Knee Deep in the Reputation Bog
As we go to press, corporate reputations are very much in the news around the world. Sadly, much of the reporting is negative and involves allegations of fraudulent behavior by senior executives accused of misleading investors and consumers. Witness the following news items from spring 2003:
Ten of Wall Street’s biggest financial firms agreed to pay about $1.4 billion and adopt reforms to resolve allegations that they issued biased ratings on stocks to lure investment-banking business. The unprecedented industrywide settlement called for one of the largest penalties ever levied by securities regulators. The settlement will change the way major investment firms do business, and focused particularly on ...