Mary Spaeth: The pessimistic view of American ethics from abroad
[This was published in a high tech newsletter in Chicago]
Subject: SV: The May Report: 06/26/2002....
Date: Thu, 27 Jun 2002 10:19:54 +0200
From: "Spaeth Mary" <mary.spaeth@mjardevi.se>
To: <owner-mayreport@list.themayreport.com>
Dear May Report and Readers,
It was with considerable dismay that I read yesterday's New York Times Headlines and with the rest of Europe and the world was shocked albeit not surprised by the report on WorldCom's overstated balance sheet.
The story, as well as many of the stories and letters I've read in the May Report these last few years confirms my current conviction that it is best just now for me to remain in Europe.
This morning's online edition of The Times, which I've just received (while you all are still asleep) quotes a Frankfurt banker, who following the disclosure of WorldCom's 'situation' says, "This is the most pessimistic sentiment against the United States that I have ever experienced in my career. There is unanimous agreement that the U.S. is not the best place to invest anymore."
Of course, as a rather proud American I am ashamed to read his words, and ashamed of those men and women, American or otherwise, who have to my mind, committed what is tantamount to modern day treason.
Sweden is not completely innocent on the financial playground. Percy Barnevik lost the admiration of many last year when ABB disclosed its own cost overruns and, for Swedish standards, questionable salaries and perks to the president and chairman at a time when the company suffered unspeakable losses and layoffs. Still, what I have enjoyed in this country is a level of trust and integrity among people that I've never experienced in my life. And, it is for this reason that I have now bought a home here and have today applied for the registration rights to a new company. But, it is also with incredible melancholy that I will return to Evanston next month to move my belongings from the family home and sell a property that the City has made impossible for me to keep regardless of whether I were to return or not.
The point of this letter is to greet my friends and provide some news of my activities, but also to provide a sort of admonition to say that good values and ethics are not things to be mocked. In the wake of the dotcom investment era, young entrepreneurs and businessmen and women are seeking more of an American dream than is perhaps proper or even realistic--and they are doing so at any cost.
Please, the next time you think of charging a lunch to your company, or a first class flight to a client, or the mileage on your car for a vacation you took (but just happened to stop in for a business meeting), stop and think of the repercussions. Don't lie on that resume. Check your ego at the door, and if you're raising a new family, think of the lessons that are appropriate for your children. If your child is 13 years old, don't lie to the restaurant and say she's 12 just to save a buck or two! Be honest at any cost and you'll sleep better at night, and so will all of those whose lives you touch.
We are a global economy--facing tough times. The actions of one gesture, one word spoken, on the trade room floor moves others to act from Tokyo to London, Moscow to NewDelhi. There was a time when Chicago attracted business from around the world because of something called the 'midwest ethic.' It's time to follow the actions of those like Colleen Rowley who took considerable risk in standing up to her superiors. Think hard about who you are, what you're doing, and let's get this country and its economy back on track. I may want to come home sometime.
Regards from afar,
Mary
Mary S. Spaeth
Affärsrådgivare/Senior Adviser
Mjärdevi Science Park AB
Teknikringen 7
583 30 Linköping
Sweden
Tel: +46 13 20 53 59 / Mob: +46 070 341 53 59
www.mjardevi.se |
