Good book, but a tough read. Big idea: honesty and openness in the business world builds consumer trust and builds long-term revenue streams. As with most management books these days, it is filled with examples. Most discuss the converse, where opacity causes huge problems; for instance, Union Carbide and the Bhopal disaster or Kellogg’s attempt to conceal genetically modified food. There are stories of how companies have changed over time, too; consider that Nike went from a sweatshop company to a leader for off-shore labor practices. While the book makes a compelling point, I found it difficult to read—to call it dry is an insult to toast. I’m certainly not sorry I spent the time, but I wish I’d found the website first. I do plan on bugging my investment advisor about how my proxies are voted, though!
The 2002 trust crisis was arguably the worst on Wall Street since the 1929 market crash and the Depression if the 1930s.