Trust

Successful marketing is based on a premise of mutual trust between 2 parties.  Buyer needs to trust the seller. Basic principle. Without a minimal level of trust, you cannot market a product, an idea, a service, a foundation, a candidate, etc..

The US economy has reached historical low levels. Canadian economy is also hurted by the economic downturns that affect our friends south of the border. No big news here.

In order to reconstruct the US economy (and indirectly improve Canadian economy), President Obama needs to rethink and rebuild the US financial system.  Its repair is fundamental to stop the meltdown we all witnessed over the past 18-24 months and to re-inject confidence at the consumer level.

Last Wednesday, AIG executives accepted to receive  bonuses that will be paid with the $700 billion bailout money provided by US government or, if you prefer, US taxpayers. To me, it is a complete non-sense.

Dear AIG executives, yes, these bonuses were in your contract. Yes, you negotiated it. Yes, legally, this money is yours. But, we are not talking about money here. We are not even talking about you. What is happening right now goes far beyond a bunch of lucky executives. Stop being egocentric and refuse that money. Refuse it to help your financial system. Refuse it to help President Obama. Refuse it to help your country. Refuse it to help the reconstruction of confidence in the US economy. Refuse it to help you. Refuse it to help your kids, our kids.

This country can be repaired. And it starts with you. Put back trust in the system and this could be a new beginning

Authenticity is the beginning of trust and trust is required to reinforce any relationship whether it is between 2 individuals or 2 groups of individuals.

Be authentic. Be trustworthy.

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5 réflexions au sujet de « Trust »

    • Thanks for dropping by Lilian,
      I wish your last sentence « Trust should be the new currency » be heard by the numerous finance executives who have to make critical decisions these days…

  1. The Maax refinancing clauses, retention bonus, bankruptcy negociation and sales process proves again that a more ethical mindset and contributive-oriented actions are needed. Trust should be the new currency.

    • @greenwind
      It is funny that you mention MAAX in your comment because when I read the AIG story, it made me think about what I went through in November of 2007 at MAAX. Company was full of debt, trying to refinance it, fighting to survive and to keep its good employees. In fact, great people were working hard on a daily basis to keep our customers onboard. These middle level employees had bonus plan based on performance. Unfortunately, our sales were starting to decline because of the housing decline in the US, so all employees were aware they might not make their bonus. With solidarity, we stucked together and continued our work.

      Then, the top management decided to vote themselves (and a few other lucky employees) special retention bonuses. They did this in secret trying to act as if nobody was aware, but the information appeared on the corporate web site for a few hours… The list of people and the amount of bonus for each individual has been published in the corporate section. Long enough for a printed copy to get circulated within the company.

      Trust was broken. These so-called leaders were not leaders anymore. They became « individualistic-managers-trying-to-make-easy-money-on-the-back-of-all-the-other-hard-working-employees ». Serving their personal interests first and trying to hide it from the rest of their colleagues.

      I left this company because I was idealizing these leaders in a sense. I couldn’t work anymore in such an environement because I cannot sustain a poker face more than 2 minutes.

  2. Ping : Smaller=better « Etienne Chabot’s Blog

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