Corporations

"Greed and corruption have always lingered at the edges of Corporate America, from Civil War profiteers to inside-trading scandals of the '80s," observes Gary Strauss in USA Today. "Yet the new millennium has ushered in a wave of fraud, corporate malfeasance, investment scams, ethical lapses and conflicts of interest unprecedented in scope." Not coincidentally, more and more corporations are issuing feel-good reports about their achievements in the field of corporate social responsibility (CSR). According to the KPMG accounting firm, the number of U.S.

Gary Winnick, the Global Crossing founder/chairman who is trying to raise $1 billion to rescue his once-mighty company from bankruptcy, has hired Rubenstein and Associates, the PR firm that specializes in "reputation management" for clients such as Rupert Murdoch, Donald Trump, Leona Helmsley, Adnan Khashoggi, Kathie Lee Gifford and the state of Israel.

"A series of revelations of corporate malpractice and number fiddling" have destroyed investor faith in Wall Street, reports the Economist. "Investors have not only lost patience with corporate America's greed and its inability to do what it says it is doing; they have also lost confidence in Wall Street's ability to act as an honest broker between them, the providers of capital, and the corporate users of it.

Dave Itzkoff has written a confessional based on his two and a half years editing Maxim, one of the so-called "lad magazines" that cater to male interest in topics like beer, sex and gadgets. Itzkoff describes the magazine's formula as "unrealistically retouched photographs, patently invented pillow talk, obvious editorial concessions to advertisers and a pervasively smug attitude. ... We didn't do issue-oriented news features or authoritative first-person narratives, and hadn't published a proper profile in almost a year -- all hallmarks of basic magazine journalism.