The Trust Deficit

Law360, New York (September 26, 2008, 12:00 AM EDT) -- "In God we trust – in all others we audit."

I learned that simple phrase as a young lawyer from one of the finest corporate directors ever, Wallace Rasmussen. Wallace had risen from a line employee to become the CEO of Beatrice Foods. He was plain spoken and had simple rules, but above all, his word was his bond. As a director, on executive compensation issues, his slogan was "pigs grow up; hogs get slaughtered."

In other words, get paid fairly and, indeed, handsomely, but do...
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