Word: friedmans
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Dates: during 2000-2009
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...This is a new idea in a nation where our most iconic economist, Milton Friedman, wrote in 1970 that a corporation's only moral responsibility was to increase shareholder profits. Since 1995, the number of socially responsible investment (SRI) mutual funds, which generally avoid buying shares of companies that profit from such things as tobacco, oil or child labor, has grown from 55 to about 260. SRI funds now manage approximately 11% of all the money invested in U.S. financial markets - an estimated $2.7 trillion...
...Many companies are trying to reconfigure their DNA as profit seekers. Take Walmart. Once the poster child of corporate ruthlessness, a retailer whose business model of undercutting all of its competitors would have been applauded by Friedman, Walmart has resolved to change its way of doing business for the sake of the future of the planet. The company has required its suppliers to reduce packaging to protect the environment and is trying to boost sales of energy-efficient lightbulbs by giving them more shelf space and better placement in stores. In July it announced it is developing a sustainability index...
...poll found Americans divided pretty evenly into three categories we're calling the Responsibles, the Toe Dippers and the Skeptics. The Toe Dippers embrace some of the ideas of responsible consuming but don't act on many of them, while the Skeptics just think Friedman was right...
...risks. In the postwar era, the firm's DNA has always combined the interlocking strands represented by two of the world's foremost risk arbitrageurs - first Gus Levy and later Robert Rubin - with the investment-banker pedigree of former senior partners, including Sidney Weinberg, John Weinberg, John Whitehead, Stephen Friedman and Paulson. "We would never let our reputation as the key M&A adviser ebb in favor of being a principal," Blankfein says. "We're very self-conscious that our franchise hinges on our client relationships and the business that those relationships generate...
...Others seem mystified by the choice to eliminate one of the chain's key identifying features. "The former typeface definitely better reflected Ikea's design philosophy, giving it a very special, unique flavor that actually fit the company's style," says Vitaly Friedman, editor in chief of the online Smashing Magazine, which is dedicated to Web design. "With Verdana being used all across the Web, Ikea's image not only loses originality, but also credibility and the reputation that the company has built since the 1940s...