• Richard Bowen, who is now a Senior Lecturer at UT-Dallas, Jindal School of Management. However, he was formerly the Business Chief underwriter at Citi Financial, a subsidiary of Citigroup. Richard Bowen was a whistleblower.
• Wayne Shaw, Helmut Sohmen Distinguished Professor of Corporate Governance; KPMG Institute for Corporate Governance. Shaw talks about what whistleblowing is, how it works, and the risks to the person who blows the whistle.

Join us this Sunday as we talk about things that matter with people who care.

- How do the Chinese see our economic situation?
- How has trade impacted what multinationals do?
- How has American economic and foreign policy impacted the rest of the world?

Guests include:

Angelina Kwan: Managing Director and COO, Asia Pacific, Cantor-Fitzgerald
The Hon. Mario Mancuso: Partner, Akin Gump Strauss Hauer & Feld, LLP, Former Under Secretary of Commerce

One of the points that host, Dennis McCuistion, addressed was that by-and-large we as a society do not often talk about China when discussing the American credit crisis and corporate governance, although it does impact them. He asked Angelina Kwan for her perspective.

Ms. Kwan believes that,

“The US is China’s best past and present trading partner. China wants a strong dollar. China really thinks that America has a great entrepreneurial spirit and it will get out of the current trade deficit.”

Ms. Kwan states that China will continue to work with the US and not in an adversarial role, but first and foremost as trading partners.

Dennis agrees, “We, the US and China, need each other. China is the largest creditor of the United States. We need to both figure out how they [China] will get paid.”  Angelina Kwan tells us that the US needs to look at how it’s dealing with their dollars and its fiscal policy. China and the US are having serious discussions about China exporting less and the US having less dependency on exports and not relying so heavily on Asia and China.

The guests agree that trade is good for both partners. Mario Mancuso adds,

“A prosperous China is in the best interests of the United Sates and vice versa. Both being prosperous is in the global interest. These are the two largest economies in the world, and we agree on our ultimate objectives. We just can’t figure out how to implement those objectives- that’s the irony.”

He tells us, 95% of our customers are outside the US and if we build a wall, we close competitors out.

“A rules-based trading system is advantageous to competitive parties and the US is the most competitive in the world.”

US consumers benefit with better products at cheaper prices…

“An additional point, I take a backseat to no-one in terms of levying criticism, at the same time I don’t think the final chapter has been written on US economic leadership.”

And a special thank you to the Institute for Excellence in Corporate Governance,University of Texas at Dallas, School of Management, (http://som.utdallas.edu/iecg/) for providing the guests for this 4 part series on Corporate Governance.

Tune in for the rest of the story as continue to talk about things that matter with people who care…

Niki Nicastro McCuistion
Executive Producer/Producer

***

1809 – 11.22.09

Joining Dennis McCuistion to discuss this and other issues surrounding this question are:

• Sharon Allen: Chairman of Deloitte LLP
• Todd M. Bluedorn: CEO of Lennox International,Inc
• Jared Richardson: Sr. Counsel of Energy Future Holdings

Todd Bluedorn tells us that essentially corporate ethics are about basic compliance, “you don’t lie, cheat or steal.” He believes that there is  more to this though, “It’s about selfless leadership…  and a balance, not just being selfish. It’s also courage and an internal and moral ability and willingness to speak to  truth.”

Sharon Allen tells us that the overall outlook for corporate America is good, it’s encouraging. Companies are focused on being good, ethical citizens, extending that to their employees and the individual stakeholders they serve. “It’s important to instill that… It’s too easy to say, ‘that’s business and that’s personal.’ No, ethics are ethics.”

Jared Richardson tells us that in any industry there is a code of ethics.  A company is its “Ethos – which develops from the people that make up the organization.”

Dennis mentions Enron, one of the biggest debacles and corporate bankruptcies in history and asks about Enron’s corporate ethics. He mentions that Jeff Skilling had been interviewed by us in 2001 and made  a point of referencing the companies 64 page ethics manual. Skilling also spoke to a group at Southern Methodist University that day- and  he shows a short clip of that presentation, asking “was a lack of ethics involved in the downturn of Enron?”  Todd’s comment:  “Skilling would have failed the selfless test!’

The guests agree it’s important to differentiate what has happened in the last 18 months from “just” ethical causes. The meltdown was as a result of much more-  structural issues and other fundamantal causes.

As Sharon reminds us regarding Sarbanes-Oxley,

“No oversight will ever solve internal  problems… It still comes down to  how an organization presents and governs.” Sharon cites a Deloitte study, that employees first look at ”their  manager and then their direct supervisor for their moral compass,” before other factors such as positive reinforcement, compensation and their peers.

Todd reminds us that,”It’s important to have structure and compliance and to force people to face commitments. It’s not only relying on good people and leadership.”

Jared agrees, that yes, it’s about the tone at the top and the direction from senior leadership and establishing a culture of ethical compliance.  But, he says,

“It goes beyond that, beyond the legal limits, if you will. It’s more than just the folks at the top, it’s at every level. The person you hire today at a starting  analyst position may be a senior manager tomorrow.”

In response Dennis introduces a Pinkerton study that says 30% of the population  not only will steal if the opportunity arises, they will create an opportunity to do so. Forty percent will steal if there is little danger of getting caught, and 30% won’t steal at all.

The guests discuss the pressure that organizations are under to produce, most especially in business downturns. They touch on the global economy and how there may be “unique practices acceptable elsewhere but not here.” Yes, global organizations are coalescing around acceptable standards.

Statistics on why people make unethical decisions in the workplace are discussed:

• 80% Lack of personal  integrity
• 60% Job dissatisfaction
• 44% Financial rewards
• 41% Pressure to meet goals
• 39% Ignorance of code of conduct

They concur that at the end of the day- its still about personal integrity.

Todd Bluedorn leaves us with a thought that summarizes the theme behind this program, “If you live for today, you’re going to lose tomorrow.”

And a special thank you to the Institute for Excellence in Corporate Governance,University of Texas at Dallas, School of Management, (http://som.utdallas.edu/iecg/) for providing the guests for this 4 part series on Corporate Governance.

As always, thank you for joining us to talk about things that matter with people who care,

Niki Nicastro McCuistion
Executive Producer/Producer

***

1808 – 11.15.09

Joining Dennis McCuistion, for a lively discussion on this issue are guest experts:

Edward J. Durkin - Director of the Corporate Affairs Department of the United Brotherhood of Carpenters and Joiners of America

Francis H. Byrd – Managing Director and Co-Leader for the Corporate Governance Advisory Practice at The Altman Group

Robert Royer – Partner in The McPherson Group and former Legal and Legislative Counsel to the Securities Industry Association and former General Counsel to the Joint Committee on the Library of Congress and Counsel to the House Administration Committee of the United States Congress

Would you have believed me if  I had told you in 2007 that these things would happen…

• Bear Sterns and Lehman Brothers disappeared
• Fannie Mae, Freddie Mac and AIG have been nationalized
• Washington Mutual became the largest bank failure in history
• The $300 billion auction rate securities market disappeared
• Merrill Lynch was bought by Bank of America
• Morgan Stanley and Goldman Sachs are now bank-holding companies
• Congress approved a $168 billion economic stimulus package in February 2008, a $300 billion homeowner relief bill, and a $700 billion bailout of the financial system
• The Treasury has guaranteed $1.3 trillion in money market funds
• FDIC has increased deposit insurance to $250,000
• The Federal Reserve has injected over $1 trillion of liquidity into the banking system

…and if you were in DC at the time, what would your response have been?

The discussion on corporate governance focuses on what Government has done thus far and what it is likely to do.

Robert Royer tells us of the mood in Congress and that it (Congress)  “is  fashioning a  broad yet specific approach to the problems of meltdown.”  He informs us that there has been some legislation produced by the Administration and the House Banking Committee while while the Senate Banking Committee has been fairly quiet throughout the process.  The two banking committees, House Financial Services and the Senate, are “the two principle engines of any change that might take place in this area.”

Ed Durkin tells us about unions, their funds, and how they impact our economy, while Dennis reminds us  that union pension funds are huge, saying that “People think of unions, from a ’40-’50′s perspective.” Durkin addresses this issue by discussing that Unions were the first to put in place employment pension funds.

According to Durkin, “unions are in a unique position to blend the interests of their members as workers as well as the interests of their members as owners.”

He believes we need to come up with a long term approach of value enhancement, reminding us that “the idea of workers owning America is one that people don’t understand.” Presently, there are over 100 pension funds in the country. He says, “we invest in the market.”

Francis Byrd tells us that board governance has now changed dramatically. “Share holders are far more interested in oversight of management and risk, strategic planning. They are on top of management, a huge dramatic change.”

Securities Exchange Commission (SEC)

The Securities Exchange Commission is a government agency.  Their role is to protect investors, not just institutions but individuals.

Has the SEC fulfilled its responsibility to its investors?

Royer says, there was a  lack of oversight and responsibility under Secretary Christopher Cox citing the SEC’s handling of Madoff.  They believe the SEC should have been tougher as the SEC did not have the most capable people with the best knowledge of exotic financial products.

With Chairman Shapiro there should be improved disclosure on companies and they concur that he is the right person for a very big task. They believe that Cox did  few good things, such as modernizing disclosure, but the new group will be more aggressive.

Federal Reserve and the Treasury

The panelists talk about the Federal Reserve and the Treasury and the power plays between them, over who is going to be that “over-arching regulator.”  The prediction:  The Fed will probably continue being in charge as the systemic regulator, despite  past missteps.

From the move to control executive compensation to amending proxie votes so brokers can not use shareholder’s votes to elect corporate directors, to proposed new regulations and the political environment – The Government’s Response to the Crisis in Corporate Governance gives us a well rounded education on what we must do to reduce future risk and negligence in corporations today.

Overall the crisis and meltdown may have caused much needed scrutiny. Thus, we are looking at longer term value creation for the good of all concerned.

And a special thank you to the Institute for Excellence in Corporate Governance,University of Texas at Dallas, School of Management, (http://som.utdallas.edu/iecg/) for providing the guests for this 4 part series on Corporate Governance.

Niki Nicastro McCuistion
Executive Producer/Producer

***

1807 – 11.08.09

Yet why did so many Americans obtain mortgages they should not have?

Have you wondered why you can’t pick up a paper today without reading about someone having their home foreclosed on and what caused that problem?

The number of Americans behind on their mortgage payments keeps increasing. For some- they obtained mortgages they could not keep up with. Many mortgages were given to people who could not repay. According to panelist: Richard Bitner,” the mortgage industry is essentially a food chain-

Borrowers on one end and investment banks, rating agencies and securitization on the other. Mortgages were bundled and sold off to investors world wide under the belief they would perform better than they did. There was a belief that mortgages were low risk, like bonds.”

Panelist: C.K. Lee adds “ People owning homes is a good thing. Everyone from the President to mortgage bankers have said so- BUT- But there was a flawed premise behind this . The problems started with investment banks and Fannie Mae and Freddie Mac- operating under the auspices of government.”…

In this program we’re going to examine, in simple language, all the mistakes and fraud that led us to where we are today and the many causes of the mortgage debacle.

Panelists include:

• C.K. Lee –Managing Director; Commerce Street Capital
• Richard Bitner- Author; Confessions of a Sub Prime Lender

***

1903 – 2.20.11

Join Dennis McCuistion and panelists as we share real solutions to save America’s financial future. Panelists are:

• David Walker: Former Comptroller General, and
• Mike George: Founder, Strong America Now

Unless you’ve been under a rock, or failed to see our recent program on the subject, you know that our federal government’s $14 trillion debt, its annual $1 plus trillion deficits and the unfunded liabilities for social programs are unsustainable. The problem is easy to identify, not as easy to understand the causes, but very difficult to not only identify solutions but implement them politically.

On this program you’ll hear some of the most creative ideas you haven’t heard yet. Regardless of your politics, you probably would like to see many of these solutions implemented. You won’t go to Iowa, but would you contact your elected representatives and make your views known. Our country’s future depends on it.

Thanks once again for joining us as we talk about things that matter… with people who care.

Niki Nicastro McCuistion
Executive Producer/ Producer
Co-Founder

***

1908

Joining host, Dennis McCuistion are:

• Mike George: Founder of Strong America Now and developer of the Lean Six Sigma Process; a technique for determining and eliminating waste, and
• David Walker: Former Comptroller General of the United States and CEO of the Government Accountability Office from 1998 to 2008. He is the author of Comeback America: Turning the Country Around and Restoring Fiscal Responsibility.

The discussion focuses on the sustainability challenges which threaten the US economic future. According to both guests, the survival of the Republic is at stake and in some cases we don’t even understand what the problem is.  Waste in government is at an all time high, with the Department of Defense being one of the government’s biggest wasters of resources.

The conversation differentiates between corruption and waste, spending increases between 2009 and 2010, and how much higher spending still is compared to receivables.  The challenges and solutions may surprise you.

Tune in to discover what needs to be done to reclaim our children and grandchildren’s future, and where, as always, we continue discussing things that matter with people who care…

Thanks once again for joining us…

Niki Nicastro McCuistion
Executive Producer/ Producer
Co-Founder

He asks, “wouldn’t it be amazing if you could predict the future and be right?” Dan states that we can indeed predict the future. And we can have a better future as a result. Dan who bases his predictions on scientific principles tells us, “we all have a sense of foresight, but we don’t know how to trust or use it, yet it is a sense we can accurately make sense of”.

In part two of this series Dan talks about how to see invisible opportunities and solutions to seemingly impossible problems. He covers several additional points from his book:

• The key to doing something that seems impossible is to see invisible solutions.
• Take your biggest problems and skip them. You’ll often find that if there is a recurring problem, that isn’t the real problem you have to solve.
• Opposites work better.
• Anticipate by solving tomorrow’s problems before they happen.
• Direct your future or someone else will. Take charge of it.

His rapid fire dialogue and common sense solutions to many of the quirks of life and business challenges we all share will leave you saying, “Now why didn’t I think of that?”

Tune in and hear more of these incredible insights, as we talk about things that matter with people who care…

***

1919 – 9.18.2011

Foreclosures may be up, however the foreclosure process varies from state to state.  In some states short notice is given by lenders.  In others, homeowners have 9 months to 18 months before a  foreclosure is posted.

What can lenders and homeowners do to work together?  Is it at all possible for both the lender to profit and the homeowner to keep their home?

Joining Dennis McCuistion to discuss the various options to foreclosure and  how to work with a lender to keep from being foreclosed are the following panelists:

• Richard Bitner – Author of: Confessions of a Subprime Lender
• Linda Davis – Housing Director: Consumer Credit Counseling Service
• George Roddy – CEO of The Roddy Report

Join us as always as we talk about things that matter… with people who care.

Niki Nicastro McCuistion
Executive Producer/ Producer

***

04.24.2011 – 1904

We’re going to examine what restrictions are appropriate under the law and what you as an individual need to know about gun laws.

Panelists include:

• Marsha McCartney: Volunteer, Brady Campaign to End Gun Violence
• Bill Caruth: Private Citizen, Second Amendment advocate, Chairman of the Liberty Institute
• Tomislav V. Kovandzic: Professor of Criminology University of Texas – Dallas

Thank you for joining us as we discuss gun control, violence and the right to carry.  As always, we’re talking about things that matter… with people who care.

***

05.26.2011 – 1902