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Passing the ethics exam

19 Apr 2009 - Preaching the News for Sunday

We are reminded in the reading from 1 John this Sunday that "the Spirit is truth." Hoping to encourage more truth and ethics in business, the Ethisphere Institute on Monday named 99 companies it says are the world's most ethical. The institute uses the listing to encourage ethical practices within the global business community. The 99 companies, which include Honeywell, Nike, Patagonia, BMW, Johnson Controls, and HSBC Holdings, come from 35 different industries. "The mission of our group is to improve corporate behavior," said Alex Brigham, executive director of the institute. This year's group features 22 first-time recipients, like Dell, Reuters, Best Buy, and T-Mobile International. Of the companies on the list, 44 are there for the third time. They include General Electric, American Express, PepsiCo, McDonald's, Starbucks, and IKEA. Some, such as Nike, have demonstrated a will to correct past mistakes, Brigham said. The full list of companies can be found at www.ethisphere.org/wme2009. Source: An article by Reuters

ethics reuters best buy t-mobile international general electric american express pepsico mcdonalds starbucks dell alex brigham hsbc holdings business ethisphere institute corporations honeywell nike patagonia bmw johnson controls ikea

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Can we bank on your support?

20 Dec 2009 - Preaching the News for Sunday

The infant in Elizabeth's womb "leaped for joy" when Mary approached, we hear in this Sunday's gospel. Small businesses that approach banks for loans are not getting a similar reaction. On Monday President Barack Obama told Wall Street bankers who were bailed out last year they have a moral obligation to make more loans. "One year ago--when many of these institutions were on the verge of collapse, a predicament largely of their own making, oftentimes because they failed to manage risk properly--we took difficult and, frankly, unpopular steps to pull them back from the brink," Obama said. Obama said that because taxpayers provided "extraordinary assistance" to save bankers from the financial crisis, "now that they're back on their feet, we expect an extraordinary commitment from them to rebuild our economy." Banks should not be required to make bad loans, the president said after meeting with executives of financial firms, but "I'm getting too many letters from small businesses who explain that they are credit worthy" but cannot get loans. In related news Federal Reserve Chairman Ben Bernanke was named Person of the Year by Time magazine this week. Time credited Bernanke with leadership that helped set the U.S. economy on a path to recovery, even if bank bailouts have proven unpopular. "Bernanke . . . knows the economy would be much, much worse if the Fed had not taken such extreme measures to stop the panic," Time said. Source: Articles by Henry J. Pulizzi for the Wall Street Journal, David Jackson for USA TODAY, Mark Felsenthal and Caren Bohan for Reuters, and the Associated Press

barack obama ben bernanke federal reserve small business banks loans bankers person of the year time magazine

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Many no longer count on finding a job

18 Jul 2010 - Preaching the News for Sunday

The author of the Letter to the Colossians talks of having a commission from the Lord he needs to “bring to completion” for the Colossians. Having largely brought their work to completion for another decade, the U.S. Census Bureau is shedding hundreds of thousands of workers--about 225,000 in only the last few weeks--putting further pressure on an already tight job market. In past decades the bureau faced a challenge just keeping workers around to close up shop, as most dashed for new jobs that might pay better. Not this time around, said observers. Jobs remain scarce. “Typically, at this point in the process, we’re losing a lot of people because they’re taking jobs,” said Kathleen Ludgate, the bureau’s regional director in Boston. “I wish we had that problem now.” Stubbornly high unemployment is causing political headaches for Democrats. Four months before the November congressional elections, Republicans have tried to paint Obama and Democrats who support him as anti-business. The U.S. Chamber of Commerce, a leading business group, issued a rebuke of Obama’s economic agenda Tuesday, accusing him and Democrats in Congress of neglecting job creation and hampering growth with burdensome regulatory and tax policies. Polls have reinforced Democrats’ fears of big losses in November. A survey by the Washington Post-ABC News showed 54 percent of Americans disapproved of Obama’s leadership on the economy. In a CBS News poll, only 40 percent of Americans said they approved of Obama’s handling of the economy. To counter such perceptions, the administration trumpeted an analysis from the White House Council of Economic Advisers (CEA) that said government funding of clean energy, economic development, construction projects, and other initiatives was spurring “co-investment” by the private sector. The report, unveiled by CEA Chairwoman Christina Romer and Vice President Joseph Biden, estimated that Obama’s $862 billion economic stimulus package had saved or created roughly 3 million jobs and was on track to meet its goal of 3.5 million jobs by the end of this year. Source: Articles by Michael Powell for the New York Times, Caren Bohan for Reuters, and Dow Jones News Service

unemployment kathleen ludgate jobs census bureau economy republicans democrats elections business chamber of commerce

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Taking care of business

03 Oct 2010 - Preaching the News for Sunday

In the Sunday gospel, Jesus suggests the appropriate response to having done our duty should not be to boast but simply to say “we have done what we were obliged to do.” Monday President Barack Obama signed a small-business tax and lending bill long delayed by Senate maneuvering with a low-key statement amounting to “it’s about time.” The law sets up a lending fund for small businesses and includes an additional $12 billion in tax breaks for small companies. "It was critical that we cut taxes and make more loans available to entrepreneurs," Obama said in remarks at the White House. "So today after a long and tough fight, I am signing a small business jobs bill that does exactly that." Republicans in general opposed the bill, calling it a smaller version of the Wall Street bailout and blocking it in the Senate for weeks. Democrats say the small-business law incentives could provide up to $300 billion in new small-business credit and create 500,000 new jobs. "It's going to speed relief to small businesses across the country right away," Obama said. Source: An article by Alister Bull and Matt Spetalnick for Reuters

taxes barack obama small business lending

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Pope argues for ethical economics

15 Jan 2012 - Preaching the News for Sunday

“God raised the Lord and will also raise us by his power,” promises Saint Paul in this Sunday’s excerpt from 1 Corinthians. Pope Benedict XVI would like to see world economic powers raise their ethical standards and create systems that benefit all humanity, he said Monday in his keynote speech for the New Year. The pope said the “grave and disturbing developments of the global economic and financial crisis” that had started in industrialized countries were now infecting the rest of the world and leaving many, particularly the young, disoriented and frustrated. "The crisis can and must be an incentive to reflect on human existence and on the importance of its ethical dimension," he said in French, addressing diplomats from nearly 180 countries. Changes in the economy should not only be "an effort to stem private losses or to shore up national economies, but to give ourselves new rules that ensure that all can lead a dignified life and develop their abilities for the benefit of the community as a whole." A document issued last October by the Pontifical Council for Justice and Peace called for sweeping reforms of the world economy and the creation of an ethical global authority to regulate financial markets. Source: An article by Philip Pullella for Reuters

common good benedict xvi economics economy financial reform business ethics

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Mind your own business--ethically, encourages Vatican primer

08 Apr 2012 - Preaching the News for Sunday

Jesus of Nazareth “went about doing good,” the newly emboldened apostle Peter proclaims in this Sunday’s post-Resurrection story from the Acts of the Apostles. Business leaders and entrepreneurs should boldly do the same in their own companies, urges a new handbook on business ethics released by the Pontifical Council for Justice and Peace. "Vocation of the Business Leader: A Reflection" is a 30-page primer that spells out the risks of unethical economic strategies and the principles needed for running a sound, moral business. Its aim is to heal the so-called "divided life" of Catholic employers who may practice their Christian values at home and church but not in the company they manage or run. "Dividing the demands of one's faith from one's work in business is a fundamental error which contributes to much of the damage done by businesses in our world today, including overwork to the detriment of family or spiritual life, an unhealthy attachment to power to the detriment of one's own good, and the abuse of economic power in order to make even greater economic gains," the booklet says. The primer was the brainchild of three business educators: Robert Kennedy and Michael Naughton of the University of St. Thomas in St. Paul, Minnesota and Andre Habisch of the Catholic University of Eichstatt-Ingolstadt, Germany. They were among the 40 Catholic business leaders and professors who attended a February, 2011 seminar at the Vatican on Pope Benedict XVI's encyclical Caritas in Veritate ("Charity in Truth") and how its framework for a new business ethic could be applied practically.What was needed, the three professors concluded, was a simple, concise primer that compiled key principles aimed specifically at helping business schools form ethical leaders and guiding business practices worldwide--from mom-and-pop store owners to corporate executives. The booklet is available in English. Source: An article by Carol Glatz for Catholic News Service

benedict xvi caritas in veritate business ethics vocation of the business leader pontifical council for justice and peace robert kennedy michael naughto andre habisch

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Mind your own business--ethically, encourages Vatican primer

08 Apr 2012 - Preaching the News for Sunday

Jesus of Nazareth “went about doing good,” the newly emboldened apostle Peter proclaims in this Sunday’s post-Resurrection story from the Acts of the Apostles. Business leaders and entrepreneurs should boldly do the same in their own companies, urges a new handbook on business ethics released by the Pontifical Council for Justice and Peace. "Vocation of the Business Leader: A Reflection" is a 30-page primer that spells out the risks of unethical economic strategies and the principles needed for running a sound, moral business. Its aim is to heal the so-called "divided life" of Catholic employers who may practice their Christian values at home and church but not in the company they manage or run. "Dividing the demands of one's faith from one's work in business is a fundamental error which contributes to much of the damage done by businesses in our world today, including overwork to the detriment of family or spiritual life, an unhealthy attachment to power to the detriment of one's own good, and the abuse of economic power in order to make even greater economic gains," the booklet says. The primer was the brainchild of three business educators: Robert Kennedy and Michael Naughton of the University of St. Thomas in St. Paul, Minnesota and Andre Habisch of the Catholic University of Eichstatt-Ingolstadt, Germany. They were among the 40 Catholic business leaders and professors who attended a February, 2011 seminar at the Vatican on Pope Benedict XVI's encyclical Caritas in Veritate ("Charity in Truth") and how its framework for a new business ethic could be applied practically.What was needed, the three professors concluded, was a simple, concise primer that compiled key principles aimed specifically at helping business schools form ethical leaders and guiding business practices worldwide--from mom-and-pop store owners to corporate executives. The booklet is available in English. Source: An article by Carol Glatz for Catholic News Service

benedict xvi caritas in veritate business ethics vocation of the business leader pontifical council for justice and peace robert kennedy michael naughto andre habisch

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Obama broadens debate on broadband internet

18 Jan 2015 - Preaching the News for Sunday

The Lord “put a new song” into the psalmist’s mouth, and, the psalmist says this Sunday, “I did not restrain my lips.” President Barack Obama is speaking out regularly these days on broadband issues as he tries to put his stamp on the nation’s internet policy—setting up more conflict with congressional Republicans and telecom giants that dominate the industry. When the president laid out his plans to boost community broadband networks in Cedar Falls, Iowa on Wednesday, it marked the second time in two months he’s put his administration at the forefront of the debate over the future of the Web. The president late last year called on the FCC to treat broadband like a public utility as part of new net neutrality rules. Obama’s speech Wednesday backing efforts to spur city-run broadband networks as an alternative to private-sector providers like Comcast and Verizon incensed Republicans who see it as an attempt to over-regulate the industry with a Washington power-grab. “Each day we see more policies coming out of this White House that attempt to wield greater power and control for the federal government,” Sen. Deb Fischer (R-Neb.) said in a statement, describing the president’s stances as a “new federal takeover of state laws governing broadband and the internet.” The president, speaking at Cedar Falls Utilities, which runs a municipal network with some of the fastest internet in the country, called for the FCC to knock down state laws that restrict community-run broadband.He also unveiled plans to release about $50 million more in government funds for rural cities that want to expand broadband access for their citizens, as well as a new Commerce Department effort to share best practices with towns that want to boost broadband. Obama isn’t just pitching faster internet as a win for techies; he’s touting it as essential for the middle class. His remarks previewed proposals he’ll make during next week’s State of the Union address. “Today high-speed broadband is not a luxury; it’s a necessity,” he said. “This isn’t just about making it easier to stream Netflix or scroll though your Facebook newsfeed, although that’s fun. . . . This is about helping local businesses grow and prosper and compete in a global economy.” Homily hint: The internet has transformed our lives, and much of the change has been positive. However, electronic connectivity can never replace face-to-face human connection. We all need to balance time spent in the virtual world with time spend in the real, flesh-and-blood world of family, friendship, and community. Source: An article by Alex Byers and Brooks Boliek for Politico

internet business government regulation

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Searching for the truth

19 Apr 2015 - Preaching the News for Sunday

In this Sunday’s gospel, Jesus appears soon after the Resurrection in the midst of a gathering of the disciples. After a five-year investigation, the European Union issued a complaint against the kinds of results that appear in Google searches, charging the internet giant with skewing results so that its own shopping service appears ahead of those of competitors. The ruling could change the rules for business online. Homily hint: It’s a fact of life that businesses large and small try to influence and sway our behavior with their messages. Fair enough, as long as the playing field is level. But without good government oversight, the level of manipulation could get out of hand. Support responsible regulation of business in the interests of fair play and ethical business. For more on the EU suit against Google, see: EU accuses Google of hurting consumers, competitors in Web search case; What Is at the Heart of Complaint Against Google?; EU accuses Google of abusing Internet search dominance

business ethics government regulation fair play

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Volkswagen strays from the right road

27 Sep 2015 - Preaching the News for Sunday

The psalmist is aware of the snares of sin and realizes the Lord “can detect failings.” The leadership of Volkswagen Group apparently believed they could cheat on U.S. emissions tests without being detected. All of that has unraveled now, and on Wednesday, Volkswagen Group announced that its embattled chief executive, Martin Winterkorn, would be stepping down. The news followed the German car giant's admission that it rigged software to cheat on U.S. emissions tests. The potential reputation and monetary damage the company is facing is enormous, say leadership and governance experts. "Warren Buffett has often noted that you build a reputation over years and decades, but you destroy it in a blink of an eye," said Wharton professor of legal studies and business ethics Thomas Donaldson. "Well, Volkswagen just blinked." Homily hint: Volkswagen, with its beloved “Bug,” has been an iconic brand of simple living and German engineering integrity. All of that has crumbled in light of the shocking revelations of its brazen cheating to hide its polluting diesel engines. The company faces a long road to reconcile itself to consumers and regulators. But all of us have strayed from the right road, so we also need to make space for VW to find its way again. For more on the Volkswagen story, see: The absolutely massive challenge ahead for Volkswagen’s next CEO; Volkswagen Scandal Pressures CEO; Q&A: A look at Volkswagen's emissions crisis

integrity cheating business ethics volkswagen

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