Trust Us, We're Corporations

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Integrity and good behavior based on "principles" are more important than rules of corporate governance, according to Peter Brabeck-Letmathe, the chief executive of Swiss-based foods giant Nestle (which recently demonstrated its commitment to "principles" by attempting to sue the famine-stricken nation of Ethiopia). Speaking at the same panel in Davos, Switzerland, Margery Kraus of the APCO PR firm offered similar sentiments: "I agree one can never legislate a culture of integrity and trust - it has to start on the inside of companies and build out." (For links to APCO's sordid history and Kraus's work setting up tobacco front groups, see the item below titled "Nice Work if You Can Get It." )