A Vision Of ‘Enlightened Capitalism’ Emerges From The City Of London
One has to hand it to UK institutional investors for exemplifying what the British are known globally for doing so well – an acute sense of timing combined with the grandeur of a display. Tomorrow evening at Mansion House, home of the new Lord Mayor of London Fiona Woolf – only the second woman to occupy the position in 800 years – the framework for ‘integrated reporting’ or will be launched by its architect, South Africa’s Mervyn King. He is chairman of the International Integrated Reporting Council which has been drawing up a blueprint for how publicly listed companies can best reflect all the opportunities and costs of their businesses in an increasingly interconnected world. An earlier Forbes post here – ‘If I had more time, I would have written a shorter letter’ goes into detail on integrated reporting, and has had the blessing of Professor King on its accuracy. In case anyone is left in any doubt of the weight of the UK’s endorsement for integrated reporting, HRH The Prince of Wales will also say, by video message: “I encourage you with all my heart to adopt the IIRC’s recommendations and to do all that you can do to ensure that Integrated reporting becomes the new reporting norm.” Even those who mutter about ‘being republicans’ find it difficult to criticise Prince Charles on having been well ahead of his time on the need to take into account. The guests will, of course, include major institutional investors. Institutional investors are to launch a new Investor Forum to promote long-term decision making. Its aim in part is to tighten checks on companies listed in London when it comes to pay, auditing and strategy – but its true purpose is to restore and enhance the reputation of the City of London. This forum intends to be operational by June 2014, will have its own Secretariat and has secured funding for at least two years from investors and trade associations. In recognising the need for an investor forum for collective engagement, the IMA’s working group said: “Cultural change is needed. Asset owners, asset managers and companies need to develop a shared sense of partnership, with the objective of promoting long-term strategies for prolonged competitive advantage of companies – leading to sustainable wealth creation for all stakeholders.” It also made clear: “Engagement on governance issues should be integrated into the investment process.” Some observers argue that is a lot to ask of institutional investors who do not always agree, or play ‘as a team. This initiative provides all shareholders in a company – including sovereign wealth funds in the Middle East and Asia as well as US pension funds and insurance groups to come together if they have concerns on company policies. At the IMA’s announcement of the launch Professor Kay said: “The Investor Forum was central to the recommendations of our review of the equity markets.I am delighted at the success of the IMA in bringing the industry together to advance collective engagement between institutional investors and companies.” Companies are now being encouraged to have a much longer-term view spanning performance over decades. They will be affected by what goes on within those walls, just as they will reap any benefits of better governance in listed companies.
Rauschning is chiefly known for his book Gespräche mit Hitler, US title Voice of Destruction, UK title Hitler Speaks, in which he claimed to have had many meetings and conversations with Hitler. Edit] The Revolution of Nihilism: Warning to the West It took three attempts in Germany to enable a coup d’état of nationalist forces to achieve such success that it could be given the character of an irresistible mass movement, a national revolution. Did [Franz von] Papen really see nothing in National Socialism but its nationalism, could he have overlooked its revolutionary ‘dynamism,’ its restless and boundless revolutionary energy? That is exactly what happened the monarchist elements imagine that they would easily put those attractive young men in their place. In the place of these there is a machinery of absolute dominion, recognizing independence in no sphere at all, not even in the private life of the individual; and the totalitarian collectivity of the Volksgemeinachaft, the ‘national community,’ an euphemism for an atomized, structureless nation. ‘ Today, after six years, there are still many respectable people associated with German ‘dynamism’ who have not yet realized that their imagined national and racial rebirth amounts to nothing more than the adoption of the revolutionary system of ‘direct action’ as the fundamental principle of the carrying of the ‘mass revolt’ to completion. The nihilist foreign policy of the National Socialism of today uses ideas as a mask, and has no philosophical basis. The radical dynamism into which National Socialism has developed is a dangerous, destructive fever, which spreads at an uncanny rate. Edit] The Voice of Destruction reported remarks of Adolf Hitler to Rauschning; also known as Hitler Speaks When the enemy is demoralized from within A single blow must destroy him. The petit bourgeois Social-Democrat and the trade-union boss will never make a National Socialist, but the Communist always will…. Our spirit is so strong, and the power of our magnificent movement to transform souls so elemental, that men are remodeled against their will… A social revolution would lend me new, unsuspected powers. Whoever images Socialism as a revolt and mass demagogy is not a National Socialist. The whole of National Socialism is based on it National Socialism is what Marxism might have been if it could have broken its absurd and artificial ties with a democratic order. The decisive factor is that the State, through the party, is supreme over all, regardless of whether they are owners or workers Our Socialism goes far deeper. Edit] Men in Chaos Gregor Strasser, Hitler’s dangerous rival in the party, was out to gain control of the whole of the party formations, the organs of public administration, and those of social and economic life, particularly the trade unions, which he proposed to form into a great and comprehensive force of Workers’ Guards of the revolution. Long before the party’s arrival in power Goebbels had written the famous article in which he pointed out the kinship between National Socialism and Bolshevism. We see then that National Socialism, like the Marxist Socialist parties, has a sort of religious element that demands the sacrifice of the intellect and of individual opinions.