Wednesday, October 12, 2005

SOCIAL INVESTING

Here are links to social investing:


Calvert Social Investment Foundation www.calvertfoundation.org

Calvert Foundation offers a professionally managed investment note that individuals and institutions utilize to finance local community programs. Activities fund affordable housing, micro-credit and non-profit social enterprises across the country and around the world - creating jobs, building homes and changing lives through your investments.

Green Money Journal www.greenmoney.com
A bimonthly newsletter (24 pages) featuring socially and environmentally responsible investing (SRI) business and consumer resources. The web site- greenmoney.com contains all the articles in the newsletter plus much more. Links to other socially and environmentally responsible companies and organizations are included.

Investors' Circle www.investorscircle.net
A non-profit national network of angel and institutional investors, foundation officers and entrepreneurs who seek to balance financial, social and environmental returns. IC is dedicated to catalyzing the flow of capital to private companies that deliver commercial solutions to social and environmental problems. Each year IC sponsors venture fairs and a national conference, in addition to circulating deal flow to its members. Since 1992, Investors' Circle has facilitated the investment of over $80 million in 120 socially responsible companies and small venture funds. Behind each of these investments is the belief that business -- not government or philanthropy -- must lead the transition to a sustainable economy.

Social Investment Forum www.socialinvest.org
A national nonprofit membership association dedicated to promoting the concept and practice of socially and environmentally responsible investing. Comprised of more than 600 financial professionals and institutions, including financial professionals, institutions, researchers, foundations, community development organizations and public educators. Membership is open to any organization or practitioner who wishes to participate in the socially responsible investing field. Member benefits include networking opportunities, information, advocacy and benefits.

Trillium Asset Management www.trilliuminvest.com
For over twenty years, Trillium Asset Management Corporation has been a leader in socially responsible investing. We are an employee-owned firm, guided by a belief that investing can return a solid competitive profit to the investor while also promoting social and economic justice. Our professional staff, in four offices across the country, carries on a mission begun in 1982: To help our clients meet their financial goals and have a positive impact on society through socially responsible investing. Trillium Asset Management manages investment portfolios for a broad array of individuals and institutions, including high net worth families, foundations, churches, endowments, and the entertainment industry. We manage equity, balanced and fixed income accounts with a client-driven, highly personalized management style.

COMPASSION

Despite its wealth, the United States, as a percentage of its population, has the smallest middle class and the greatest gap between rich and poor of any industrial nation. As more and more Americans fall through the cracks into privation and poverty, they also fall prey to the predatory economic institutions that Howard Karger examines so thoroughly and powerfully in his book"Shortchanged". Like such classics as "Nickel and Dimed", this book is a wakeup call for action to redirect our economy towards fairness and ethics.

What is fundamentally right about the above statement and so precariously wrong? Well, if we take a hard look at the underbelly of America we might not like what we see. A nation priding itself as a land of great opportunity and wealth. A land where immigrants came and staked their claim to the American dream. All things are possible in America, just start a business and it will be followed by enourmous wealth. That was the poster. An inviting scenario....Jim Jones said..."Drink the Kool Aid and you'll reach Nirvana". Somebody lied!

I remember 40 years ago when I graduated from the University of Montana, my Uncle Leon who lived in Philadelphia asked me a pretty direct question. Are you going to stay in the U.S. or go back to Canada? I said I hadn't made up my mind yet. His response was equally vocal and demonstrative. "How could you possibly think of returning to Canada". You will not have the same opportunities to get rich as you can in the good ole USA. Also, Canada is so backward and America is blessed with so much more of everything. He left out the part about having more "poverty" in America than Canada, and a health system that helps you get better as opposed to a system that enables the rich to get well and the poor to get sicker, and the middle class to go bankrupt. But hey, more incentive to make more money...right? Wrong What price glory?


My Uncle and his family and for that matter all my American relatives equated a high degree of success in life to the acquisition of wealth and personal fortune. Becoming a successful lawyer and doctor or owning a multi milliion dollar company with the accompanying "nice" Jewish girl and split level mansion in the burbs was the ultimate goal and deserving of bragging rights with the rest of the family. God forbid you should be a truck driver or shoe salesman. Much pity would befall your parents for producing such a social misfit.

It's the "Goodbye Columbus" syndrome of Jewish dating with Richard Benjamin and Ali Macgraw. A Jewish man and a jewish woman meet and while attracted to each other find that their worlds are very different. She is the archetypical Jewish-American-Princess, very emotionally involved with her parents world and the world they have created for her while he is much less dependent on his family. They begin an affair which brings more differences to the surface.

Neil Klugman works in the public library and lives in New York with his Jewish aunt rather than in Arizona with his parents. College-girl Brenda Patimkin very much lives with her well-to-do Jewish family. Even so, the two are attracted and start seeing each. As the relationship gets more serious, Brenda's mother gets increasingly hostile to Neil, thinking her daughter would end up marrying beneath her.

There was a great joke circulating the Katskills in the 50's by that famous Jewish comedian, Mickey Katz, better known as the Borscht Jester. "Two elderly Jewish women were walking with their granchildren on the boardwalk in Atlantic City, and each one turned to the other and said, what beautiful grandchildren they had. Then, Mrs Goldstein asked Mrs. Rabinovitch how old they were? To which Mrs. Rabinovitch replied, "Well the doctor is three and the lawyer is two. "

There is a certain degree of logic and rationale to this syndrome. After all most Jewish immigrants that came to the States had escaped the unspeakable horrors of the Nazis in concentration camps, and so they were holocaust survivors. My belief is that they wanted a life for their kids thst was totally opposite to what they had experienced. So they went a little overboard, and wanted their kids to have EVERYTHING.

Also, there was a belief that the only way a Jew could escape anti-semitism was to work for themselves. I took that belief wth me into society and became paranoid every time I had a gentile boss. Would he find out I was Jewish and then find a reason to fire me. The best decision I ever made was to go away to an American college with a population on campus of 10 Jewish students and 3,200 gentiles. My first roomate was Tom Gillon from Chester, Montana who never heard of a Jew and my second was George Paige, a black football player from Portland, whose father was a judge. When I tried out for the basketball team, I met Ray Lucien, the only black guy on the team. Ray was from Baton Rouge and his was a poverty striken family. The only jacket Ray had, was the letterman jacket he got for being a jock.

How wonderful those days were...no color blinders...George and Ray and I having dinner together talking about our futures. We obviously took different paths, but I believe we had one thing in common, a geuine compassion for each other and our trust and love for one another. In that moment in time I could not understand the resentment my realtives had for the blacks in South Philadelphia and a view of them being no more than second class citizens. I would say to them, how can you persecute them, when we have been the persectued ones from generation to generation. Their answer was a subtle form of racism...."You don't know how they live because your'e not around them".

I love my extended Philadelphia family, but I don't have to like their beliefs. The scary part is that I honestly believe they represent a lot of thinking of mainstream white Americans in large urban cities. They moved three times from their South Philly home, and each time it was to an all white suburban neighbourhood. When Overbrook Park became inhabited by blacks they moved to Overbrook Hills and then finally to an all- white gated retirement comunity in Florida.

I began to become less paranoid and more accepting of the equalty in us all. Having grown up entirely in a protective "Jewish only" environment, I began to assimilate with the rest of the world. Thus begun my ascent into having "compassion" for all beings. Not an easy task for a "brain washed" only child who believed everything his mother and father told him. This is not to say I did not experience my own share of bullying and anti-semitism as a child. I did, but my Dad , God Bless him, always told me to not fight back and just walk away and feel sorry for the attackers. It was in that moment that I became more passive than aggressive in the resolution of conflict. That's not to say that I was a classic "wimp", but more judicious in my understanding of people, their motivation to anger and the price to pay for fighting and war.

Buddha says; "To feel true compassion for all beings, we must remove any partiality from our attitude toward them." Our normal view of others is dominated by fluctuating and discriminating emotions. We feel a sense of closeness toward loved ones. Toward strangers or acquaintencances we feel distant. And then for those indiviudals who we perceive as hostile, unfriendly, or alloof, we feel aversion or contempt.

The criterion for our classifying people as friends or enemies seems straightforward If a person has caused us difficuty or harm, he or she is a foe. Mixed with our fondness for our loved ones are emotions such as attachment and desire that inspires passionate intimacy. Similarly, we view those whom we dislike with negative emotions such as anger and hatred. Consequesntly, our compassion toward others is limited, partial, prejudicial, and condiitoned by whether we feel close to them Genuine compassion must be unconditional. Now I'm sure, if you are reading this on the New York subway, it's pretty difficult to adopt this concept and attempt to view the stranger sitting next to you with compassion.

However , if we are to begin this journey towards enlightenment and follow the eight fold path of Buddha, compassion is high on the list. From personal experience, I can tell you that once you become aware of this it really does open your eyes to the way we are used to interacting with all beings. Every conversation I have now, every busines meeting, every discussion with whomever; my interaction with the grocery clerk at the check out, the guy filling my tank, the pharmasict and the postal clerk. I catch myslef only partially listening to their answers, as I am alerady moving ahead with my agenda. Now I pay particular attention to what they are saying, who they are, what they have to say about their business and their life. I have discovered you can connect with people at a deeper more compassionate level, without becoming their therapist. And you can be free to just LISTEN!

There is one last consideration, and it comes from the Dalai Lama; "As human beings, our well-being very much depends upon that of others, and our very survival is a result of contributions made by inumerabe fellow human beings. Whether directly or indirectly, countless others are involved in our survival---not to mention our happiness".

If we extend this line of reasoning beyond the confines of a single lifetime, we can imagne that throughout our previous lives---in fact, since time without beginnng---countless others have made inumerable contributions to our welfare. We conclude, "What grounds have I to discriminate? How can I be close to some and hostile toward others? I must rise above all feelings of partiality and discrimination , I must be of benefit to all, equally!"

How do we train our minds to perceive the essential quality of all living beings It is best to cultivate the feeling of equanimity by first focusing on relative strangers or acquaintances, those for whom you have no strong feeling one way or the other. From there you should meditate impartially, moving on to friends and then enemies. Upon achieving an impartial attitude toward all conscious beings, the Dalai Lama encourages us "to meditate on love, the wish that they find the happiness they seek". What a concept, to actually want someone else to achieve happiness before you do. Another equally challenging task for the selfish, only child, narssistic author of this prose. A huge awakening, but the seed has been planted in me.

And what I have learned is that the seed of compassion will grow as the Dalai Lama says; "If you plant it in fertile soil, a consciousness moistened with love." "When you have watered your mind with love, you can begin to meditate upon compassion. Compassion, here is simply the wish that all conscious beings be free of suffering."

Buddha says; "Not to be helpful to others, not to give to those in need, this is the fruit of samsara. better than this is to renounce the idea of self".

Tuesday, October 11, 2005

ENLIGHTENED CAPITALISTS

INVESTOR'S CIRCLE CONFERENCE TO FOCUS ON SUSTAINABLE BUSINESS


Speakers To Discuss Community Development, Food, Health, Media, Renewable Energy


(CSRwire) BOSTON, Mass. – Panel discussions on "Preserving and Restoring the Commons," presentations by the founder of the country’s leading brand of natural household products and the son of baseball great Jackie Robinson, and a venture fair are among the features of the Investors’ Circle (IC) 2005 National Conference, which will take place Nov. 1-3, 2005 at the Hyatt Regency Boston.

The conference, which will be based on the theme, "Patient Capital for a Sustainable Future," celebrates the investment of $100 million through the IC network. In collaboration with the popular PBS radio show eTown. Speakers at workshops on Nov. 3 will also discuss the state of double-bottom-line investing and enterprise creation in the context of community development, food and organics, health, media, mission-related investing and renewable energy.

Keynote speakers will include Jeffrey Hollender, CEO of Seventh Generation of Burlington, Vt., and David Robinson, Director Of Marketing for the Mshikamano Farmers Group in Tanzania. In addition to founding his successful household products company, Hollender is the founder of Network for Learning, an adult education program and audio publishing company, and author of How to Make the World a Better Place: A Guide for Doing Good.

Robinson, son of Jackie Robinson, formed United Harlem Growth Inc., a self-help housing development and renovation company, then moved to Tanzania in the 1980s and started a 29,000-tree coffee farm. He helped form the Mshikamano Farmers Group, a cooperative of coffee farmers and serves as its Director Of Marketing.

Some of the other scheduled speakers include Peter Barnes of the Tomales Bay Institute and Founder of Working Assets; Joan Bavaria, President of Trillium Asset Management; Connie Best, Managing Director, The Pacific Forest Trust; Mark Donohue of Expansion Capital Partners; Barbara Kibbe, Vice President for Program Effectiveness at The Skoll Foundation; David Kirkpatrick, Founding and Managing Director of SJF Ventures; David Robinson, founder of Sweet Unity Farms; Don Shaffer, National Coordinator of the Business Alliance for Local Living Economies; Paul Shoemaker, Executive Director of Social Venture Partners International, and Greg Steltenpohl, founder of the Interra Project and co-founder and former CEO of Odwalla.

Thirty-four companies will be featured in a venture fair on Wednesday, Nov. 2, 2005, and two panels on Thursday, Nov. 3, 2005 will discuss the use of private capital and networks to enhance bioregional, cultural and economic health and diversity. The Investors’ Circle National Conference and Venture Fair is the premier meeting place for angel investors, professional venture capitalists, philanthropic investors and entrepreneurs who are using private capital to promote the transition to a sustainable future.

This year’s conference is supported with contributions from Health Care Without Harm, the Massachusetts Renewable Energy Trust, the Phoebe Haas Charitable Trust, the Skoll Foundation and the W.K. Kellogg Foundation. Investors’ Circle of Brookline, Mass. and San Francisco, Calif. is a leading social venture capital intermediary whose mission is to support early-stage, private companies that drive the transition to a sustainable economy. Founded in 1992, IC has become one of the nation’s largest investor networks, and the only one devoted specifically to sustainability. Its members and active affiliates are high net worth individuals, professional venture capitalists, family offices and foundations. In its first decade, network members invested over $100 million into 160 early stage private companies and venture funds working to deliver commercial solutions to social and environmental problems.

Buddha says; "If a man do something good, let him do it again and again. Let him find joy in his good work. Joyful is the accumulation of good work"

Friday, October 07, 2005

WHAT WOULD BUDDHA SAY?

As you all know this blog has been filtering through the news of the day to see how it reflects on the teachings of not only Budhha but how we can live our lives better and on purpose.

Corporate America has been riddled with criminal CEO's wreaking havoc with the stabliity of an entire nation. Now we are are faced with an individual that defies logic. There are those who have been both appauled and bewildered by the behaviour of a man who holds the most powerful office in America. In this latest revelation of George W., we find God being used in the most affrontive way I can imagine. To justify a war and the loss of even one life in the name of God is repulsive. When the President justifies his actions he tells us that the terrorists use the name of Allah to justify their killings. Unless there is something missing in the translation....to the Muslim, Allah is God.

As you know we have had many articles re-printed under the title "White Collar Corporate Criminals". Well, this past month in Washington, they have given new meaning to the term "Political Criminals", and just as we have witnessed the trials of Ebbers, Fastow, and Stewart, perhaps it is time to bring the "Elected Criminals" of our society to justice; Bush, Cheney, Rumsfeld, Rice, and of course DeLay & Frist . However Buddha says we must show compassion to all beings. And so I offer you this....what would Buddha say about George?


God told me to invade Iraq: 'George, go and fight'

Agence France-Presse
October 7, 2005


LONDON - Palestinian leaders appearing in a BBC documentary say George W. Bush told them he had been instructed by God to invade Iraq and Afghanistan, according to details of the program released yesterday.

The U.S. President made the statement when he met Palestinian leader Mahmoud Abbas and then-foreign minister Nabil Shaath in June, 2003, the ministers say in the documentary Elusive Peace: Israel and the Arabs, to be broadcast in Britain this month.

Mr. Bush also told them he had been ordered by God to create a Palestinian state, the ministers said. "President Bush said to all of us: 'I'm driven with a mission from God,' " Mr. Shaath, now the Palestinian Information Minister, says in the program.

Mr. Shaath goes on to quote the President as saying: "God would tell me, 'George, go and fight those terrorists in Afghanistan.'

"And I did, and then God would tell me, 'George, go and end the tyranny in Iraq.' And I did.

"And now, again, I feel God's words coming to me, 'Go get the Palestinians their state and get the Israelis their security, and get peace in the Middle East.'

"And by God I'm gonna do it," Mr. Shaath quotes Mr. Bush as saying.

Mr. Abbas, who was also at the meeting in the Egyptian resort of Sharm al-Sheik, recalled how the President told him: "I have a moral and religious obligation. So I will get you a Palestinian state."

A BBC spokesman said the content of the program had been put to the White House but it had refused to comment on a private conversation.

Yesterday, however, White House spokesman Scott McClellan denied Mr. Bush ever made such statements, calling claims that he had done so "absurd."

The three-part series charts the attempts to bring peace to the Middle East, from former U.S. president Bill Clinton's peace talks in 1999-2000 to Israel's withdrawal from the Gaza Strip.
The program speaks to presidents and prime ministers, and their generals and ministers, about what happened behind closed doors as the peace talks failed and the intifada grew.
The series is due to be screened in Britain on Oct. 10, 17 and 24.

Buddha says; "A man is not a great man because he is a warrior and kills other men; but because he hurts not any living being, he in truth is called great man"

MASTERS OF DECEPTION

Master of Deception


Police veteran Dennis Marlock has written the book (several of them, actually) on scams, cons, frauds -- all shapes and sizes of street-level deception. Which makes him an expert witness to what's gone wrong in the executive suites of corporate America. Does everyone lie? Aren't we too smart to get conned? Some honest talk about dishonest business.

From Fast Company:


Issue 66 January 2003 Page 106 By: Linda Tischler


You'll never mistake him for the untouchable Eliot Ness or even for crusading New York State Attorney General Eliot Spitzer. But Dennis Marlock is a pioneering crime fighter, passionate about righting wrongs in his specialized field. A 31-year veteran of the Milwaukee Police Department, Marlock has seen -- and busted -- nearly every sort of street-level scam the criminal mind can devise: the pigeon drop, three-card monte, bank-examiner fraud. More than 15 years ago, impressed by the skills of the con artists whom he was trying to arrest and frustrated by how his fellow officers kept getting outsmarted, he founded Professionals Against Confidence Crimes. He remains the group's chairman.


And he has written the book on deception -- literally. In License to Steal (Paladin Press, 1994) and, most recently, in How to Become a Professional Con Artist (Paladin Press, 2001), Marlock takes his readers into the nimble minds and cold hearts of the criminals that he has encountered. Our challenge to this master of deception: Lead us through the nimble minds and cold hearts of executives who cook the books by misallocating billions of dollars' worth of expenses, analysts who "pump and dump" stocks, and CEOs who spend lavishly on their own behalf and then portray themselves as champions of the shareholder.


Fast Company traveled to Milwaukee for some much-needed honest talk about dishonest business, and here's what he had to say:


Many of our readers are asking themselves, "Why was I stupid enough to invest in Enron or Tyco?" Well, why were they?

"The biggest misconception about fraud is that the victims are stupid. The truth is, con artists prefer intelligent people. First, smart people are more likely to have money. Second, smart people are easier to fool precisely because they think they're too smart to get scammed. We deal with victims who are doctors, lawyers, judges -- even cops. The easiest people to deceive are those who think that they are immune to deception."


But what about the cliché, "If it sounds too good to be true, it probably is"?

"Actually, if it sounds too good to be true, you're probably dealing with an amateur con artist. At the heart of any good con -- whether it's bank-examiner fraud or some scheme on Wall Street -- is plausibility. The fact that there are plenty of scams that you would never fall victim to doesn't mean that they're bad scams. It just means that they weren't designed for you. Good con artists invest a lot of time figuring out which kinds of people are most vulnerable to which kinds of scams."

What's the mark of a great con man?

"He's arrogant. He's cocky. He's brazen. And he loves his work. I remember when one guy who I'd been after for a long time finally got convicted. He got six years in jail, and I was there for the verdict. As they were leading him out in handcuffs, he said to me, "Nice game! You win." Earlier, he had told me that if he got convicted, he'd be back on the street the day he got out. "The money's too good," he said. "Plus, it's what I enjoy doing."

So is it too easy to compare Andrew Fastow from Enron or Dennis Kozlowski from Tyco with that sort of character?

"A lot of the people I deal with are every bit as clever as those executives. But there is a big difference. Executives have a built-in excuse: "I'm doing what everyone else is doing." Maybe they were the unlucky ones who got caught; maybe they feel as if the government changed the rules on them. Few white-collar criminals hold themselves personally accountable. Street-level con artists know that what they're doing is a crime.


When you put it that way, the street-level huckster almost sounds more honorable than the executive.

"I wouldn't say that. A lot of the con artists I've arrested are unbelievably charming. I've wanted to hug a few of them myself! But once the game is over, and they know it's over, you see who they really are, and it's not pretty. They're vicious, they're vindictive, they're hateful. Fraud investigators get incensed with how Hollywood portrays these people. If you're a serial killer, you're Anthony Hopkins in The Silence of the Lambs with a mask on your face. If you're a swindler, you're Paul Newman or Robert Redford in The Sting."

By the way, "con man" is a funny term. Where did it come from?

" It's more than 150 years old. On July 8, 1849, the New York Herald reported the arrest of a swindler named William Thompson who would approach his mark by saying, "Sir, do I have your confidence?" Then he'd perpetrate his scam. The newspaper headlined the story "The Arrest of the Confidence Man." That's still the key element of these kinds of crimes: gaining your confidence, even if it's just for a moment.

"That word "moment" is key. One of the biggest giveaways that you might be part of a con is a sense of immediacy: You have to make this decision now. If a stock is a good deal today, it will be a good deal tomorrow. When you're dealing with any scheme that involves money, you should ask yourself two questions: Is it possible that this person could be lying to me? And if they are, what do I stand to lose? If the answers are "yes" and "a lot," take some time to investigate further. "

"Con artists are great at spotting our vulnerabilities. What's their biggest vulnerability? What kills them is that they can't tell other people how smart and slick they are. Eventually, they have to talk about it. Interrogation is my specialty. I get more confessions from con artists than from any other kind of criminal. It drives defense attorneys nuts! They can't understand why these people confess and then ask for a lawyer. But if con artists believe they have a sympathetic ear, someone who understands them, then they love telling you their story. They want to compare notes with you. They want to gloat. You know the old saying, "You can't con a con"? Well, I have proven that wrong countless times. "

Linda Tischler (ltischler@fastcompany.com) is a Fast Company senior writer. Contact Dennis Marlock by email (fraudtech@justice.com).

Buddha says; "If a fool can see his own folly, he in this at least is wise; but the fool who thinks he is wise, he indeed is the real fool"

Thursday, October 06, 2005

THE SOUL OF CAPITALISM

The Battle for the Soul of Capitalism (Hardcover)by John C. Bogle

Book Description
A financial expert explains what’s wrong in corporate, investment, and mutual fund America, the reasons behind the problems, and what should be done about it.

About the Author
JOHN C. BOGLE is founder and former CEO of the Vanguard mutual funds. In 2004, Time magazine named him one of the most influential people in the world. In 1999, Fortune magazine named him one of the four investment giants of the twentieth century.

Editorial Reviews

From Publishers Weekly

Despite its inflated title, this volume is a worthy jeremiad against corporate excess, especially the kind hastened by the mutual fund industry that Bogle, former CEO of low-cost Vanguard, knows well. Among the problems: inflated executive compensation and creative accounting that allows companies to claim profits even when they're in the red. Mutual fund companies, Bogle charges, care more about short-term results than long-term value, and many of them gain profits for larger parent corporations by charging investors unnecessary fees that undermine the funds' net returns.

To remedy such problems, Bogle writes, mutual fund owners and their fiduciaries must exercise the corporate responsibility they now shirk, and fund boards must be reshaped to serve the interests of shareholders. He advances in all seriousness Warren Buffett's once-joking idea for a high tax on short-term trading gains and calls for a federal commission to examine the way pension funds are managed, as well as the state of our retirement systems in general. While other recent books, such as David Swensen's Unconventional Success: A Fundamental Approach to Personal Investment, marry similar criticisms with more advice for individual investors, Bogle—a rock-ribbed Republican businessman—still deserves attention in the precincts of power. (Oct.) Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

Wednesday, October 05, 2005

ACHIEVING BUDDHAHOOD

We have spoken a great deal about compassion and equanimity and what it means to cultivate these qualities in our everyday lives. When we have developed our sense of compassion to the point where we feel responsible for all beings we are motivated to perfect our ability to serve them. Buddhists call the aspiration to attain such a state bodhicitta, and one who has achieved it, a bodhisattva.

There are two methods for bringing about this attitude. In his book. "An Open Heart", the Dalai Lama describes them: "One, called the Sevenfold Cause-and-Effect Method, hinges on viewing all beings as having been our mother in the past. In the other, Exchanging Self for Others, we view all others as we do our ourselves. Both methods are considered practices of the method, or path."

For many of us who are just beginning on the path, the message unflolding here is new territory. It may require some of us to alter our belief and thinking 90 degrees, but in so doing we are opening ourselves to a greater opportunity. An opportunity to view life with a panorama lense rather than a finely tuned microscope. Our world is being tested as never before and along with it; our values and traditional beliefs about everything. Massive change is immenent and it will lead us in a direction that will guide not only our children but our children's children to a kinder, more peaceful and compassionate world. So let's begin our journey to achieving Buddhahood and let's not forget that patience is required, for as we have been told, it may take this lifetime and perhaps several more to achieve the noble state of Buddhahood.

THE SEVENFOLD CAUSE-AND EFFECT METHOD

"If we have been reborn time after time, it is evident that we have needed many mothers to give birth to us. It should be mentioned that our births have not been limited to the planet Earth. According to the Buddhist view, we have been going through the cycle of life and death for far longer than our planet has existed. Our past lives are therefore infinite, as are the beings who have given birth to us. Thus the first cause bringing about bodhicitta is the recognition that all beings have been our mother."

"The love and kindness shown us by our mother in this life would be difficult to repay. She endured many sleepless nights to care for us when we were helpless infants. She fed us and would have willingly sacrificed everything, including her own life to spare ours. As we contemplate her example of devoted love, we should consider that each and every being throughout existence has treated us this way. Each dog, cat, fish, fly, and human being has at some point in the benningless past been our mother and shown us overwhelming love and kindness. Such a thought should bring about our appreciation. This is the second cause of bodhicitta".

"As we envision the present condition of all these beings, we begin to develop the desire to help them change their lot. This is the third cause, and out of it comes the fourth, a feeling of love cherishing all beings. This is an attraction towards all beings, similar to what a child feels upon seeing his or her mother. This leads us to compassion, which is the fifth cause of bodhicitta. "

"Compassion is a wish to separate these suffering beings, our mothers of the past, from their miserable situation. At this point we also experience loving-kindness, a wish that all beings find happiness. As we progress through these stages of responsibility, we go from wishing that all sentient (conscious) beings find happiness and freedom from suffering to personally assuming responsiblity for helping them enter this state beyond misery. This is the final cause. As we scrutinize how best to help others, we are drawn to achieve the fully enlightened and omniscient state of Buddhahood."

Buddha says; "A man is not a great man because he is a warrior and kills other men; but because he hurts not any living being, he in truth is called great man".

Friday, September 30, 2005

THE RIGHT LIVELIHOOD AWARDS

THE PRIZE FOR OUTSTANDING VISION AND WORK
ON BEHALF OF OUR PLANET AND ITS PEOPLE

The idea of 'right livelihood' is an ancient one. It embodies the principle that each person should follow an honest occupation which fully respects other people and the natural world. It means being responsible for the consequences of our actions and taking only a fair share of the earth's resources. This is a very fundamental teaching of the Buddha and encompasses one of the eight fold paths we are discovering.

In every generation, there are groups of people and individuals around the globe who valiantly uphold these principles of right livelihood. They should be the stars in our human cosmos, but their work often entails personal sacrifice, being opposed by powerful forces around them. They are however, the true heroes of our planet!

The Right Livelihood Award was established in 1980 to honour and support such people. It has become widely known as the 'Alternative Nobel Prize' and there are now over 100 laureates from 48 countries.

This Award exists to strengthen the positive social forces that its recipients represent and to provide the support and inspiration needed to make them a model for the future. It has been said that if the Nobel Prizes reflected world concerns of the 20th century, the Right Livelihood Award should reflect those of the 21st.


2005 Right Livelihood Awards


The 2005 Right Livelihood Awards honour pioneers for justice, fair trade and cultural renewal

The 2005 Honorary Right Livelihood Award goes to one of Mexico's greatest living artists and community philanthropists, Franscisco Toledo.

The SEK 2 million Award is shared by Maude Barlow and Tony Clarke from Canada, Irene Fernandez from Malaysia, and the organisation First People of the Kalahari, and its founder Roy Sesana, from Botswana.

The Jury's citations in respect of the 2005 Right Livelihood Awards are as follows:

Francisco Toledo (Mexico) - "... for devoting himself and his art to the protection, enhancement and renewal of the architectural and cultural heritage, natural environment and community life of his native Oaxaca."

Maude Barlow and Tony Clarke (Canada) - "... for their exemplary and longstanding worldwide work for trade justice and the recognition of the fundamental human right to water."

Irene Fernandez (Malaysia) - "... for her outstanding and courageous work to stop violence against women and abuses of migrant and poor workers."

The organization First People of the Kalahari, and its founder Roy Sesana (Botswana) - "... for resolute resistance against eviction from their ancestral lands, and for upholding the right to their traditional way of life."

Founded in 1980 the Right Livelihood awards are presented annually in the Swedish Parliament and are often referred to as “Alternative Nobel Prizes”.

They were introduced “to honour and support those offering practical and exemplary answers to the most urgent challenges facing us today”.

Jakob von Uexkull, a Swedish-German philatelic expert, sold his valuable postage stamps to provide the original endowment. Alfred Nobel wanted to honour those whose work “brought the greatest benefit to humanity”. Von Uexkull felt that the Nobel prizes today ignore much work and knowledge vital for our world and future.

A press conference with the recipients will be held in Stockholm on Wednesday, December 7th. The award presentation ceremony in the Swedish Parliament will be held on December 9th.

There were 77 candidates from 39 countries on the confidential list of nominations this year: 4 from Africa, 4 from the Arab world, 20 from Asia, 1 from Australia, 26 from Europe, 12 from Latin America and 10 from North America.

Website: www.rightlivelihood.org

Buddha says; "Better than a hundred years lived in idleness and in weakness is a single day of life lived with courage and powerful striving".

THE ETHICS VIRUS HAS CONTAMINATED THE UN

UN gives employees an ethics quiz in effort to raise their integrity
Initiative comes as U.S. Congress starts hearings on the need to overhaul UN
management


Steven Edwards
CanWest News Service

Thursday, September 29, 2005
CREDIT: Mary Altaffer, Associated Press

UNITED NATIONS -- In the wake of management scandals, the United Nations is
attempting to raise the level of integrity of its employees by asking them
to take a multiple-choice ethics quiz, and offering certificates featuring
images of African Masai tribesmen to anyone who does well.

The initiative comes as a U.S. Congressional committee Wednesday launched
hearings into what plans the UN has for overhauling its management after
leaders of developing countries, attending the recent 60th anniversary
summit, led the rejection of sweeping reform proposals by UN Secretary
General Kofi Annan.

UN officials say the ethics quiz is part of the overall effort to improve
efficiency at the world body, but Washington's chief UN envoy told the
Congressional hearing changes need to be major to make UN employees more
accountable.

"The key is to break the sense of entitlement that permeates the UN system,"
U.S. Ambassador John Bolton said in a written statement he had prepared for
his testimony before the International Relations Committee of the House of
Representatives.

UN officials devised the ethics quiz after another internal survey last year
found only about one third of UN employees felt the organization employed
people with a high degree of integrity.

Some employees admitted to giggling over the degree of difficulty of some of
the questions.

The quiz also shows employees how they should defend the UN against
criticism.

The management crisis at the UN came to a head this month with the release
of the final report of the year-long $35-million US probe into the UN
oil-for-food program the world body ran in Iraq when Saddam Hussein was
president.

It found UN mismanagement and corruption helped Saddam siphon off about
$10-billion US in kickbacks and smuggling of oil in contravention of UN
sanctions.

The United States backed Annan's plan to wrest control of the UN's purse
strings from the General Assembly, but developing countries used their
majority in that body to turn him down.

Before the International Relations Committee, Bolton suggested a way to
increase pressure on the world body would be for countries to finance it
through voluntary contributions rather than UN-set assessments, as is
currently the case.

The UN's representative at the hearing, Mark Malloch Brown, reacted with
alarm, telling Reuters News Agency such a plan would "sink" the world body,
which relies on the United States for 22 per cent of its funding.

© The Vancouver Sun 2005

Buddha says: "Abandon what is wrong. It is possible to abandon it. Were it not possible to abandon what is wrong, I would not say: Abandon it. But because it is possible, therefore I say: Abandon what is wrong.

Thursday, September 29, 2005

THE STENCH OF CORRUPTION

Over the course of the summer, Howard Dean worked hard to get voters to associate the Republican Party with a "culture of corruption" in Washington. The message didn't get much traction then -- in part because Democrats in Congress didn't push it out of fear that it would come back to bite them, and in part because voters had bigger concerns about George W. Bush and the party he leads.

The message is getting through today.

Just after news of Tom DeLay's indictment broke this afternoon, White House press secretary Scott McClellan appeared for his daily press briefing, where a reporter asked him on live television if a "stench of corruption" now swirls around the president and his party. McClellan dismissed the question as relying on a "broad characterization" but acknowledged that there are "instances" and "individual situations" where "the legal process" will need to proceed.

That's certainly fair to say.

From Texas to Florida to Ohio, from K Street to Congress to the inner circles of the Bush administration itself, the Republican Party is suddenly -- or maybe not so -- looking like the party of scandal. You can't keep up without a scorecard. Here's ours.

Tom DeLay: The House majority leader was indicted today on a felony charge that he conspired to launder corporate campaign contributions through the national Republican Party in Washington and back to legislative candidates in Texas.

Bill Frist: The Justice Department and the Securities and Exchange Commission are both investigating the Senate majority leader's sale of shares in his family's healthcare business just before the stock's value plummeted in June.

Jack Abramoff: The Republican super-lobbyist, known to have bragged about his contacts with Karl Rove, was indicted in Florida last month along with his business partner on wire fraud and conspiracy fraud charges related to their purchase of a fleet of gambling boats. This week, three men were arrested -- including two who received payments from Abramoff's business partner -- in the Mafia-style killing of the man from whom Abramoff and his partner purchased the gambling boats.

David Safavian: The president's chief procurement officer stepped down two weeks ago and was arrested last week on charges of lying to investigators and obstructing a separate federal investigation into Abramoff's dealings in Washington. Some Republicans who received campaign contributions from Safavian are divesting themselves of his money now.

Timothy Flanigan: The president's nominee to serve as deputy attorney general has announced that he will have to recuse himself from the Abramoff investigation if he is confirmed because he hired Abramoff to help the company where he works -- scandal-ridden Tyco International Ltd. -- lobby DeLay and Rove on tax issues.

Michael Brown: The president's FEMA director resigned earlier this month amid complaints about his handling of Hurricane Katrina and charges that he and other FEMA officials got their jobs based on political connections and cronyism rather than competence or qualifications.

Bob Taft: The Republican governor of Ohio pleaded guilty last month to criminal charges based on his failure to report gifts as required by state law, among them golfing trips paid for by Tom Noe, a major Republican fundraiser who is the subject of his own scandal regarding the state's investment in $50 million in rare coins, some of which have mysteriously gone missing.

Randy "Duke" Cunningham: A federal grand jury in San Diego is investigating allegations that the veteran Republican congressman received financial favors from a defense contractor who allegedly bought Cunningham's house at an inflated price and let him live for free on the contractor's 42-foot yacht.

Ernie Fletcher: The Republican governor of Kentucky has refused to answer questions from a grand jury investigating whether his administration based hiring decisions on political considerations rather than merit. Fletcher has pardoned nine people in the probe -- including the chairman of Kentucky's Republican party -- and fired members of his staff.

George Ryan: Federal prosecutors made their opening statements this week in the criminal trial of the former Republican governor of Illinois. Ryan and a friend, Chicago insurance adjuster Lawrence Warner, are charged with racketeering conspiracy, mail fraud, tax fraud and lying to federal agents.

And then there's Karl Rove and Scooter Libby. The grand jury investigating the outing of Valerie Plame is scheduled to complete its work in late October. While neither Rove nor Libby is apparently a "target" of the investigation -- and while the "corruption" in Plamegate is moral rather than financial -- both men are known to have played a role in revealing or confirming Plame's identity in conversations with reporters, which may be a crime under federal law.

Buddha says: "The wrong action seems sweet to the fool until the reaction comes and brings pain, and the bitter fruits of wrong deeds have then to be eaten by the fool."

Wednesday, September 28, 2005

THE HOUSE THAT GEORGE BUILT

Delay Is Indicted in Texas Case and Forfeits G.O.P. House Post


By PHILIP SHENON and CARL HULSE

Published: September 29, 2005

WASHINGTON, Sept. 28 - Representative Tom DeLay, the House majority leader and a driving Republican power in Washington, was forced to step aside from his leadership post on Wednesday after a grand jury in Texas indicted him on a charge of conspiring to violate election laws in his home state.

The indictment, in Travis County, which includes Austin, the state capital, accused him of conspiring with two previously indicted aides to violate a century-old Texas ban on the use of corporate money by state political candidates, by funneling thousands of dollars in corporate contributions through the Republican National Committee.


Representative Tom DeLay maintained his innocence, asserting that the indictment resulted from a "purely political investigation."
House Republicans gathered within hours of the indictment's becoming public, and chose Representative Roy Blunt of Missouri, the No. 3 House Republican, to assume Mr. DeLay's duties temporarily. They assigned Representative David Dreier of California to take on more responsibilities. Party rules required Mr. DeLay to step down if indicted.

Earlier in the day, there had been indications that Mr. Dreier might be named to Mr. DeLay's place temporarily, which did not sit well with some House conservatives. But a Congressional aide said Wednesday night that Speaker J. Dennis Hastert had already chosen Mr. Blunt before the conservatives voiced their objections.

At a news conference in his office, Mr. DeLay described the veteran Democratic prosecutor who brought the indictment - Ronnie Earle, the Travis County district attorney - as a "partisan fanatic" leading a "coordinated, premeditated campaign of political retribution." Mr. DeLay said he had done nothing wrong.

"I have violated no law, no regulation, no rule of the House," Mr. DeLay, who is in his 11th term, told reporters, adding: "My defense in this case will not be technical or legalistic; it will be categorical and absolute. I am innocent." [Transcript, Page A27.]

House Republicans rallied to the defense of their leader, a shrewd political force who is credited with using his hard-edge skills to maintain the Republicans' hold on the House and to advance the conservative Republican agenda.

Mr. DeLay and his allies described the one conspiracy count against him as motivated by anger over his role in a state redistricting plan that sent five new Texas Republicans to Congress after their party took control of the Statehouse in 2002. Mr. DeLay's actions in Texas during the 2002 campaign are the focus of the indictment issued Wednesday. If convicted, he could face up to two years in prison.

"Tom DeLay's effectiveness as majority leader is the best explanation for what happened in Texas today," Mr. Blunt said. "I'm confident that a full explanation of the facts in this case will clear Tom's name and return him to his position as majority leader."

But many Republicans also acknowledged that the indictment was of grave concern, adding to a litany of misconduct accusations centered on Republicans in Congress, including Senator Bill Frist, the majority leader, and at the White House.

"It may be a witch hunt, but it is a huge problem," Representative Zach Wamp, Republican of Tennessee, said of the conspiracy charge. "He will probably be exonerated in the long term, but that is a long time."

The indictment was another setback for the Republican majority, which has been reeling in the aftermath of Hurricane Katrina, the Bush administration's handling of the initial relief effort and internal divisions about how extensive the recovery plan should be.

Democrats who have long sparred with Mr. DeLay and come out on the losing end say his indictment reinforces their view that the Republican majority has lost its ethical bearings.

"The criminal indictment of Majority Leader Tom DeLay is the latest example that Republicans in Congress are plagued by a culture of corruption at the expense of the American people," said Representative Nancy Pelosi of California, the Democratic leader.

For years, first as the House majority whip and then the majority leader, Mr. DeLay has been an aggressive partisan as well as a proponent of socially conservative ideas. When others were urging that Republicans drop the idea of impeaching President Bill Clinton in 1998, Mr. DeLay almost single-handedly kept up the pressure that led to the House impeachment vote.

Anticipating the possibility that Mr. DeLay could be indicted in the Texas case, House Republicans last year dropped an internal party rule that required a party leader to step down if indicted on a felony charge. But lawmakers encountered serious criticism of the change from members of the public and Democratic critics who saw it as a backward step, and they reversed the decision.

During their private session Wednesday to replace Mr. DeLay, some Republicans complained that the rule was an open invitation to prosecutors to lodge an indictment and influence the makeup of the leadership of Congress.


At the White House, the chief spokesman, Scott McClellan, said President Bush continued to see Mr. DeLay as a "good ally" and as "a leader we have worked closely with to get things done for the American people."

Asked about the indictment, Mr. McClellan said, "The president's view is that we need to let the legal process work."

Mr. DeLay has been a linchpin of Republican success over the past decade, since playing a role in the Republican takeover of the House in 1994. He is often called the Hammer in print for his hard-nosed approach, though it is not a nickname anyone uses with Mr. DeLay himself.

Instead, he has built his loyalty among Republican members by raising money for them and looking out for their legislative interests.

The indictment in Travis County was brought against Mr. DeLay; James W. Ellis, the head of Mr. DeLay's national political committee, Americans for a Republican Majority, or Armpac; and John D. Colyandro, the former head of Texans for a Republican Majority, a state political action committee. Mr. Ellis and Mr. Colyandro were also indicted last September on related charges.

The new indictment centered on Mr. DeLay's involvement with Texans for a Republican Majority, which he created with his aides in 2001 and which was modeled on Armpac.

During his career in the House, Mr. DeLay has used Armpac to raise hundreds of millions of dollars in corporate donations for other Republican candidates, who in turn showed their loyalty to Mr. DeLay by electing him to the House leadership.

With the Texas committee, Mr. DeLay mapped a Republican takeover of his home state's Legislature, which the party achieved in 2002. The victory allowed Republicans to redraw Congressional districts in Texas, making it easier to elect Republicans to the House and solidifying Mr. DeLay's power in Congress.

In the indictment on Wednesday, prosecutors essentially accused Mr. DeLay and his aides of engineering their 2002 victory in Texas through money laundering - specifically, by violating a state law that bars companies from donating to individual candidates. The law is a legacy of struggles at the turn of the last century between farmers and ranchers on the one hand and so-called corporate robber barons eager to seize their lands.

The indictment charged that $155,000 in donations to the committee from six companies, including Sears Roebuck and Bacardi, the rum maker, were put into a bank account along with other money raised by Texans for a Republican Majority.

In September 2002, the indictment shows, the committee sent a check for $190,000 drawn from that account to the Republican National Committee in Washington. The check, which is reproduced in the indictment, was made out to the Republican National State Elections Committee, which oversees state races for the national party.

The indictment charged that Mr. Ellis, Mr. DeLay's aide, then provided Terry Nelson, President Bush's political director in his 2004 campaign and a Republican National Committee official, with a list of state Republican candidates in Texas who were to receive money, along with the amount of money for each.

The indictment suggests that the proceeds from the $190,000 check were then laundered back to Texas in the form of donations to the seven Republican candidates, in violation of the state's corporate money ban.

Mr. Earle, the Travis County prosecutor, had suggested as recently as a few weeks ago that he did not expect to indict Mr. DeLay, and lawyers and law enforcement officials in Austin speculated Wednesday that he must have obtained the cooperation of an important witness in deciding to bring charges.

At a news conference in Austin, Mr. Earle would not comment on details of the indictment, which was approved by the grand jury on its last day before disbanding.

Texas is not the only place Mr. DeLay's conduct is being scrutinized. He has called for a House ethics committee review of travel brought into question for potential violation of House rules, and he also figures in federal investigations of Jack Abramoff, a lobbyist and onetime DeLay confidant.

Mr. DeLay was also rebuked three times last year by the House ethics committee for fund-raising abuses and misuse of government agencies, a series of actions that ensnarled the committee in a fight over procedural changes sought by Republicans in the wake of the DeLay decisions. The chairman who oversaw the investigations, Representative Joel Hefley, Republican of Colorado, was also replaced.

"I think it's unfortunate for everybody, particularly for Tom, and I hope there's nothing to it," Mr. Hefley said of the indictment. "We'll just have to play it out and see."

Buddha says; "Have not for friends those whose soul is ugly; go not with men who have an evil soul. Have for friends those whose soul is beautiful, go with men whose soul is good".

Monday, September 26, 2005

FOR LOVE AND PROFIT

Every day we are witnessing the beginning of this new era I have been calling "Enlightened Capitalism" It is the following story that inspires us all to re-examine our priorities and adds fuel to the argument that there is hope and a light at the end of the proverbial tunnel. The story of Susan Standfield is just one of many. The encouraging part is she is in her late 30's with plenty of time to carry the message that being a "social entreprenuer" is a GOOD thing! With permission of the Vancouver Sun , here is her story:


SUSAN STANDFIELD'S Fashion T Shirts bring prosperity to Kenyan orhphans.

Yvonne Zacharias
Vancouver Sun


September 24, 2005

There is a saying in Africa -- moja moja -- that translates into English as one at a time. Susan Standfield has to remember it at times. Through tiny steps and tiny stitches, she is hoping to take bits of thread, swaths of cloth, the rhythms of Africa, the spirit of its children and weave a dream into reality.

It all began about four years ago in the middle of the night when she decided she was through with her job in television advertising.

"I didn't like the schedule. I didn't like the pressure. I didn't like how it treated people," said the 37-year-old Vancouver woman. "It was fine when I was younger. I didn't own anything at the end of the day. We made lots of money but I was always unemployed as soon as the job was over. I thought, I have to build something for my future."

Casting around, she hired a business coach to help her find her way.

Focus on the things you love, she was advised. Those happened to be four things: kids, photos, Africa and fashion design.

Out of that hazy sketch a little company grew. Called the Children's Photographic Gallery of Kenya, the company's premise is simple: children in Kenyan orphanages take photos of themselves to be distributed, primarily on T-shirts, for sale. The children are paid 10 per cent of the proceeds for their work, raising much-needed funds for the dirt-poor orphanages.

In western eyes, there are so many reasons to disbelieve. A for-profit company helping orphans? Aren't there enough designer T-shirts on the market already? How can this work?

Yet, in Kenyan eyes, there are so many reasons to believe.

Standfield herself initially approached the idea with trepidation. As soon as the words were out of her mouth to the coach, she was terrified. "I thought, oh my God, okay, when you tell somebody your dream, you are kind of on the hook."

Where to begin with such a dream? It wasn't the sort of job you would find in the Help Wanted ads.

She got her answer in an article in March of last year in The Vancouver Sun's travel section. North Vancouver freelancer Tim Morrison told readers about coming across a very special orphanage called SHERP, which stands for Samburu Handicap Education and Rehabilitation Program, while travelling in Kenya.

Morrison wrote about a heroic and compassionate local woman named Grace Seneiya who founded the orphanage, for children with disabilities in 1999. She truly is amazing Grace.

Both Standfield's business coach and her stepmother drew Standfield's attention to the article, which included an e-mail address for contacting Seneiya. It was a eureka moment for Standfield. She contacted this woman named Grace.

She registered the business and then in July of last year, sent off six plastic cameras to Seneiya along with how-to-photograph instructions with translations in Swahili and examples of the types of photos she wanted. She marked them "for handicapped kids," hoping that would prevent them from being robbed in the mail.

Seneiya admits to being a bit nervous when she opened the package at the orphanage. She quickly overcame her reservations. "I never thought it would work out because the children had never handled cameras before. But they learned so fast. I only took two weeks to teach them. They were so excited," she said in an interview from Kenya.

Seneiya's faith in the idea brought a gust of fresh air to Standfield, keeping her dream airborne.

Two months later, the film came back to Canada. "When I got them back from the lab, I was terrified they wouldn't expose properly and these kids would feel bad."

Standfield need not have worried. The kids did a fantastic job. Suddenly, it was time to quit her part-time job in Vancouver and devote herself totally to the business.

"I just jumped into it. I wasn't really prepared. I didn't have the kind of capital that every business needs, but every business births itself into life. Mine just started and I had to go with it."

She started selling the T-shirts bearing the kids' photos. "I started realizing that as fast as I was able to get a product out, people were willing to buy it. That's partly because they were friends and colleagues, but partly because I tried to make them cool, little consumable art products."

Selling the T-shirts primarily through her downtown studio at Suite 1022, 475 Howe St., she offered buyers a choice of colours, photographs and one-word logos like Swahili words for joy or happiness. A chic, fashionable woman herself, she would buy basic T-shirts and then redesign them, handstitching around the collar, the sleeves and the bottom.

She has sold about 90 limited edition T-shirts at $60 apiece. Another 60 were given to the three orphanages that have now signed on to the project to sell or were given away as thank-yous to people who helped the business. Because this is a business and not a charity, Standfield accepts nothing for free.

She is now at the point where she realizes she can't make all the T-shirts herself, so she needs to set up a sewing workshop. She would rather do that in Kenya than here, so she is planning to move to Nairobi in November.

To launch the business in Kenya, she is trying to pre-sell 1,000 T-shirts at $100 apiece. She has a long way to go. So far, she has sold 10, but she is undaunted.

She wants to use Kenyan products and labour exclusively to create jobs. By turning the orphanage mothers and the children into partners in the business, she is hoping to make about $500 a month for each of 10 orphanages.

Pie in the sky? Maybe. But Standfield dreams in big technicolour swatches. Her vision is longterm. If she can pull it off, it will be a tremendous boon to the orphanages, which scramble to come up with the necessities and function on a budget of $30 per child per month.

Early on in the adventure, she told film maker and friend Sam Oliver about the plan. Sam bought in right away and they planned on going to Africa to film, The film posed major challenges for Oliver. "Where would you like me to start?" he said, when asked what they were. "I had never been to Africa. I had no money. It was my first time making a long-format film, so I was kind of making it up as I went along. Also, we didn't really know what the story was going to be until way down the line." All the while, he had to worry about having his gear stolen.

Despite $3,000 in funding from the National Film Board, he has yet to come up with a $10,000 shortfall in making it. Through his company, bloodredcolt, he is still looking for a distributor.

Sam and Susan had worked on and off together for a number of years on television commercials and on a calendar to raise money for the Pivot Legal Society, which advocates for people in Vancouver's Downtown Eastside. That venture on home turf demonstrated to Standfield the power and potential of altruistic commerce.

The world is so overpopulated already, she explains. To bring another child into the world? She doesn't know. "I can do this so easily with these 100 kids who are hoping, expecting the T-shirt business to work for them rather than being a mom to one child in Vancouver. That's a gift, I think. To be able to be that to a lot of kids."

Standfield is a passionate believer in the private enterprise model rather than the non-profit charitable or non-governmental organization (NGO) model. She said the former encourages those who benefit to become self-reliant participants rather than passive recipients of aid.

Being a private company, she is forced to be profitable and has the motivation to succeed. Her hands also aren't tied by the restrictive rules surrounding government aid.

She sees herself as one of a new breed of social entrepreneurs who are "posing a new challenge to NGOs and charities because we are getting access to larger amounts of private capital that has traditionally been used for NGOs."

She also sees her business as being on the crest of a wave of compassionate consumerism and greater corporate social responsibility that is coming our way. It is a trend that will see consumers eschewing commercially produced T-shirts for those from companies whose profits are funnelled into needy places and who make a point of playing by the fair trade and environmental rules. She said countries like England are much farther ahead of Canada on that front.

Standfield believes if everyone tried to do even a little, the world would be a better place. She is trying to do her part by investing foreign capital in Kenya.

She notes that by 2010, sub-saharan Africa is projected to have 25 million orphans. It now has 11 million, with 1.5 million of those being in Kenya. Four million of those 11 million will die before their fifth birthday. Such a waste and such a tragedy. What will the many others do with their lives?

Standfield said they can pick up guns, join resistance movements and turn to prostitution or they can transform the world for the better.

When she was in Kenya, she saw so much hope that they will decide on the latter course. When she asked the kids on camera what they wanted to do with their lives, almost all said they wanted to help people. They had dreams of becoming pilots, singers and advocates for women.

"These kids have Grace. They have the matrons and the orphanage. But mostly what you really need to survive in life is hope, the reason to believe. That's all these kids need -- to believe that there will be something for them in life."

It won't happen overnight. Moja, moja. One at a time.

YZacharias@png.canwest.com

RELEVANT WEBSITES AND E-MAIL ADDRESSES

Susan Standfield, e-mail to sue@cpgkenya.com; website at www.cpgkenya.com

Sam Oliver, e-mail to sam@bloodredcolt.com, website at www.bloodredcolt.com

Grace Seneiya, seneiya2004@yahoo.com

Phyllis Keino, lewachildrenshome@yahoo.com

Spirit of Faith orphanage (which is also involved in Standfield's project), e-mail to kenria@todays.co.ke; website at www.spiritoffaithorphanage.org

Buddha says; "To what end should the thought: 'I am the result of my own deeds, heir to deeds, having deeds for matrix, deeds for kin; to me the deeds come home again; whatever deed I do, whether good or evil, I shall become it's heir,' be contemplated often by man or woman".

Friday, September 23, 2005

COMPASSION & BUSINESS

What is compassion? Compassion is the wish that others be free of suffering. It is by means of compassion that we aspire to attain enlightenment. It is compassion that inspires us to engage in the virtuous practices that lead to Buddhahood. We must therefore devote ourselves to developing compassion.

The challenge for all of us who are just starting on this path is to take the first step. In th first step toward a compassionate heart, we must develop our empathy or closeness to others. In a society that is increasingly becoming impersonal through technology, this becmes a major challenge. With cell phones, text messaging, e-mail, voice mail, and the internet, we may never need to be with anyone on a face to face basis.

Buddha says, "we must also recognize the gravity of their misery. the closer we are to a person, the more unbearable we find that person's suffering. The closeness he speaks of is not a physical proximity, nor need it be an emotional one. It is a feeling of responsibility, of concern for a person. In order to develop such closeness, we must reflect upon the virtues of cherishing the well-being of others. We must come to see how this brings one an inner happiness and peace of mind. We must come to recognize how others respect and like us a result of such an attitude toward them. We must contemplate the short-comings of self-centerdness, seeing how it causes us to act in unvirtuous ways and how our own present fortune takes advantage of those less fortunate.

It is also important that we reflect upon the kindness of others. This realization is also a fruit of cultivating empathy. We must recognize how our fortune in business is really dependent upon the cooperation and contribution of others. Every aspect of our present well-being is due to hard work on the part of others. As we look around us at the buildings we live and work in, the roads we travel, the clothes we wear, or the food we eat, we must acknowledge that all are provided by others. None of these would exist for us to enjoy and make use of were it not for the kindness of so many people unknown to us. As we contemplate in this manner, our appreciation for others, as does or empathy and closeness to them.

When we look at our business, whether we are owners or workers, the same lessons apply. It is important to recognize the contributions of everyone from the receptionist to the janitor. These are not paid servants, they are persons of value. When we begin to have that level of compassion for everyone who touches us we can begin to look at the success of our business not from a financial standpoint but from a very personal place of deep caring for our fellow traveller on the journey of life.

The next time you have a sales meeting, a senior management strategy session, an employee retreat, or a shareholders meeting, take the time to really recognize our dependence on those for whom we feel compassion. This recognition brings them even closer It requires sustained attention to see others through less self-centered lenses. We must work at recognizing their enormous impact on our well-being both personally and in our business. When we resist indulging in a self-centered view of the world, we can replace it with a worldview that takes every living being into account. We must expect our view of others to change suddenly.

When Donald Trunp fires someone on the Apprentice, he says, "It's not personal, it's business"! The truth is it is personal, VERY PERSONAL!

Buddha says; "If acts of thought are done through love towards his fellows in the Brahma-faring, both openly and in private--this is a matter which conduces to untiy"

OUR JOURNEY

Along our spiritual journey in Buddhism, there are two apsects of our path that reflect two distinct kinds of practice we must engage in. Though the Buddha taught both, they were passed along over the centuries from teacher to students in two separate lineages. However, like the two wings of a bird, they are both necessary as we embark upon our journey to enlightenment, be it a state free of suffering for ourselves alone or the ultimate enlightened state of Buddhahood we seek in order to benefit all sentient beings.

The Dalai Lama in his book, "An Open Heart", describes "the vast" or the "method" aspect, referring particularly to the opening of our heart, of our compassion and love, as well as those qualities such as generosity and patience that extend from a loving heart. "it is here", he says that "our training involves enhancing these virtuous qualities while diminishing nonvirtuous tendencies.

What does it mean to open the heart? First of all, we undertstand that the idea of the heart is a metaphorical one. The heart is perceived in most cultures to be the wellspring of compassion, love, sympathy, righteousness, and intuition, and intuition rather than merely the muscle responsible for circulating blood through the body. In the Buddist worldview, both aspects of the heart, however, are understood to take place in the mind. Ironically, the Buddhist view is that the mind is located in the middle of the chest. An open heart is an open mind. A change of heart is a change of mind. Still, our conception of the heart provides a useful, if temporary, tool when trying to understand the distinction between the "vast" and "profound" aspects of the path."

The other aspect of practice, the Dalai Lama further states, is the "wisdom" aspect, also known as the "profound". Here he says, "we are in the realm of the head", where understanding, analysis, and critical perception are the ruling notions. In the wisdom aspect of the path, we work at deepening our understanding of impermanence, the suffering nature of existence, and our actual state of selflessness. Any one of these insights can take many lifetimes to fully fathom. Yet it is ony by recognizing the impermanent nature of things that we can overcome our grasping at them and at any notion of permanence.

Buddha says; "A recluse's goal is patience and forbearance. Wisdom is his ambition, moral habit is his resolve, nothingness his want, nirvana is his fulfilment."

Thursday, September 22, 2005

THE RELENTLESS PURSUIT OF SUCCESS

Over the past couple of weeks, I experienced a number of events that lead me to believe that we have all adopted a mantra of "What Price Glory"! Last week I received in the mail an invitation to the 11th Annual Worldwide Luminary Series: Leading to Greatness; Building True Success. Count the number of times the word success is mentioned in the pamphlet content;

* Building True Success
* Achieving Success involves a combination of skill, insight, and discipline
* Leading to Greatness: Building True success is an unparalleled opportunity for you to take that major step to build true success for both you and your organization
* You'll learn the strategies behind success, ideas that are on the forefront of leadership, and how to take yur entire organization to then next level of productivity, opportunity, and success
* Spend a day with many of the foremost thought leaders and innovators in the world. Their insights will help you do more than just succeed. This program will enable you to build new success that can achieve greatness both in your organization and in your life. Don't miss this one-time opportunity!

So let me get this straight- for $299 bucks...$249 if I register early I get to sit and listen to the likes of Rudy Guiliani, Richard Branson, Jack Welch and Carly Fiorina etc inspire me on their stories of how they have achieved greatness. Because after all I have the power to achieve greatness as well and I need to make the most of it, according to this brochure. The real message comes in the box on the front page, which says; "WE MUST BUILD TRUE SUCCESS IN OUR LIVES AND WORK".

The message is indeed as clear as a Tony Robbins infomercial at 3 a.m.,if you don't get off the couch and call for my tapes, you are destined to a life of failure and unhappiness, and if you don't believe me you can certainly believe Liza Gibbons, who hosts the show, and who by the way gets paid big bucks for that. As did Fran Tarkenton and others who act as testimonials for all the alleged gurus of the "paid programming" hall of fame.

So what to make of the heretofore mentioned Worldwide Luminary Series. Whenever indiviudals become mesmerized by "famous people", these people become the measuring stick for true success. Whether they are movie stars, milllionaires, or world leaders. The people I admire most are Martin Luther King, Gandi, Mother Theresa, the Dalai Lama, Nelson Mandela. Why, because their success is measured by accomplishments of the human spirit. I believe many people sabotage their own llves by believing that unless they attain the lofty heights of greatness and success measured by the likes of Richard Branson or Donald Trump, they really won't have it all. And after all isn't that the American way,to have it all, that's why we live in America. And by the way, I can tell you as a Canadian citizen, the people here are not immune to that belief system either. It's just tempered by a socialistic political ideology.

Last night I was invited to a seminar given by a colleague of mine, who took great lengths to tell me he was on the same path as I was and that we should do business together, by referring my star client base to his seminars. It's amazing what happens when you write a book, people come out of the woodwork that you haven't talked to for years to either support you or ride the bandwagon. I've been pretty good at sniffing out what's real and what's fluff. But this one fooled me . I truly believed he was who he said he was becoming. To his credit he did say that I should see his performance, as he put it, before I recommend my clients. Thank goodness I did.

I went to the seminar with an open mind and within the first 10 minutes I had that old "Tony Robbins" dejavu feeling. As many of you know I was one of the early franchise owners for Tony and one of the requirments was to have information sessions for prospective customers. Of course, we were always told to have converts in the room with testimonials at the ready on how this program changed their life.

As I scanned the room, I noticed how the "newbies" were kind of squirming in their seats, while the converts were raising their hands and saying "yes" at the appropriate prompting of my friend, the leader. The standard set of questions were evoked, like they are at all good info motivational self-help sessions, Eg:; "How many of you want to have success and wealth in your life"? How many of you want to learn the 7 secrets of the top millionaires in the world"? "How many of you are truly happy in your life now"? "How many of you would like to have a loving and successful realtionship with your spouse or partner"? "How many of you would like residual income so that you can give to the charity of your choice"? "How many of you would like to live your life to the fullest"? How many of you believe a million dollars is enough to retire on"? And the closer; "If I could teach you the seven ways to achieve ultimate happiness in your life and your business, what would that be worth to you?"

Okay enough, I'm about to throw up, and you too I'm sure, well I was about to until mercifully he asked for us to break into groups of three so we could tell each other our goals, I bolted for the door. Out in the fresh air I took a deep breath and thanked the universe for delivering me from this crooked road of hype and glory on to the path of discovering the true essence of life.

A place of right action, right mindfulness, right livelihood, truth, integrity, and compassion. I make no apologies for the fact I am just learning the Buddha principles, but believe me when I tell you I have found more joy in being a student of this journey in four months than I ever had in a lifetime of buying franchises, becoming an MLM distributor or running motivational self help workshops for fun and profit.

Here are some definitons of success on the web that can confuse us even more:



"An event that accomplishes its intended purpose; "let's call heads a success and tails a failure"; "the election was a remarkable success for Republicans"

"An attainment that is successful; "his success in the marathon was unexpected"; "his new play was a great success"

"A state of prosperity or fame; "he is enjoying great success"; "he does not consider wealth synonymous with success"

"An achiever: a person with a record of successes; "his son would never be the achiever that his father was"; "only winners need apply"; "if you want to be a success you have to dress like a success"

So as you can see the only one that really resonates and speaks to us, is that "wealth is not considered synonymous with success". Think about it, what would you like to be written at your grave site or for your eulogy; "Bob was a great guy, he had triple his sales quota in 2004, he drove a brand new Jaguar, he had a 2400 square foot house with a pool, he built a business empire and retired a multi-milllionaire, he always measured his success by his wealth and building crucial skills in today's business world. He lead effectively with cutting edge principals. He achieved greatness for himself and his entire organization. And most important of all, he followed the universal principal; "WE MUST BUILD TRUE SUCCESS IN OUR LIVES AND WORK". You get the picture...

Here's what I would hope they write about me; "Allan was a kind and gentle man, who always stopped to help those who needed help. He always put others first before himself. He was a loving and compassionate human being. He cared deeply for his children, his grandchildren, and the loves of his life. He valued his friendships as he did his family. He always tried to remember the good things about his Mother and Father. He honoured and respected all he came in contact with. He was a man of the utmost integrity and trust. He values, loves and appreciated the last woman in his life Roxanne. He is grateful to all who mentored, supported, healed and blessed his life while on this earth."

These words are words of hope and prayer, because the truth is I am on the path of still fulfilling these noble aspirations, and once the journey ends, I will know that I have achieved what truly is important, not success but enlightenment.

Buddha says; "Do not err in this matter of self and other. Everything is Buddha without exception. Here is that immaculate final stage, where thought is pure in it's true nature"

AFFLUENZA

Another recommended book from Berrett-Koehler:

Affluenza

by John de Graff David Wann Thomas H. Naylor


Price: $17.95
Paper - 275 pages


Summary

Based on the popular PBS television specials, Affluenza and Escape from Affluenza, viewed by 15 million people
Uses the whimsical metaphor of a flu-like illness to clearly illustrate the serious symptoms, causes, and cures of obsessive materialism
A fast-paced, very readable book that shows how to "beat the bug" and achieve healthier, happier lives.

Description

Affluenza; a painful, contagious, virally transmitted condition of overload, debt, anxiety, and waste resulting from the dogged pursuit of more.


Synopsis

Based on two highly acclaimed PBS documentaries, Affluenza uses the whimsical metaphor of a disease to tackle a very serious subject: the damage done-to our health, our families, our communities, and our environment-by the obsessive quest for material gain that, since World War II, has been the core principle of the American Dream. The authors show that problems like loneliness and rising debt, longer working hours and environmental pollution, family conflict and rampant commercialism are actually symptoms caused by a single "disease": affluenza, the never-ending search for more.

Like any medical report, Affluenza begins by detailing the symptoms of the disease. Chapters with titles like Swollen Expectations, A Rash of Bankruptcies, Shopping Fever, Chronic Congestion, and An Ache for Meaning detail the many serious and unexpected consequences of our society's compulsive desire to acquire.

Deepening their diagnosis, the authors explore the origins of affluenza. What causes it? Where did it come from? Why has it only recently begun to spread, seemingly unchecked, throughout the entire world?

Thankfully, affluenza can be cured. If it turns out you do have the bug-the book includes a self-diagnosis test so you can find out-the authors detail a number of treatments that offer hope for recovery. They show readers how millions have already enriched their lives by getting rid of the excess baggage, the cultural clutter, and the exhausting race to keep up with the Joneses. Affluenza offers prescriptions that deliver greater value for the money, time, and energy spent each day; for augmenting individual efforts with political remedies; for inoculating ourselves against advertising; for using technology and inspired design to minimize the side-effects of overconsumption; and more.

Engaging, fast-paced, and accessible, Affluenza takes a hard look at a complex and serious issue, revealing ways of living and working that make more sense and are, ultimately, more satisfying. After all, the best things in life aren't things.

CORPORATE SOCIAL INVESTING

As you all know, I am not adverse to recommending selected books that have a relevance to the musings of this blog. As such here is one that has merit:

Corporate Social Investing
by Curt Weeden, Paul Newman,Peter Lynch

Price: $29.95 From Berret-Koehler Publishing
www.berrettkoehler.com
Hardcover - 250 pages



Summary

Details a practical, 10-step plan that can create exciting new relationships between businesses and nonprofits
Weeden's plan could generate an additional $3 billion a year in corporate support for vital causes, improving quality of life for millions, while at the same time bolstering corporate profits
Offers essential advice for businesses planning their corporate social investing strategies and nonprofits seeking corporate support

Description

Author Curt Weeden unveils a 10-step "corporate social investing" plan which not only promises to improve a company's bottom line but should lead to an increase of $3 billion or more a year in business support for schools, healthcare institutions, civic groups, and other nonprofit organizations.


Synopsis

Corporate philanthropy is on its way out. A new concept called "corporate social investing"-which requires that every commitment of money and/or product/equipment/land which a company makes must have a significant business reason-is taking its place. The transition has implications to every business and nonprofit organization in America. This book provides the strategic plan for making the transition to corporate social investing. By following the practical steps described here, businesses and nonprofits can forge creative alliances that can boost corporate profits while at the same time providing added resources for schools, colleges, cultural organizations, civic groups, and other important charities.

Weeden's breakthrough plan, based on his innovative concept of corporate social investing, has the potential to dramatically change the way businesses and nonprofits interact. If widely implemented, it could substantially increase corporate support for nonprofits, turning the tide against cutbacks, offering profound benefits to businesses, and revitalizing the essential services nonprofits provide.

Tuesday, September 20, 2005

FOLLOWING YOUR PASSION

From the desk of Ray Kurzwell, Inventor & Futurist:

"We’ve seen a migration away from jobs that involve extending our bodies. At the beginning of the 20th century, 30% of the population worked on farms and 30% worked in factories. Those figures are now down to 3% each. So we’ve seen a profound shift there already. Increasingly, professions involve expanding the reach of our minds and creating knowledge. Knowledge in very broad forms, whether the knowledge is music or art or culture or writing or science or technology. Increasingly that’s where our work efforts will be directed.

I think people should go with their passion. If they really have a passion for art, we’ve seen a great empowering of the arts through technology. There’s a tremendous need for creating graphics and so on. I know artists that could hardly make a living who are now in tremendous demand as Web designers. It does pay to learn skills to be able to express ones passion in the vernacular and technology of the times. I do have exposure to a variety of fields, and it’s remarkable to me how technically sophisticated every field is becoming, from library science to music to art to certainly science and technology."


I recall several years ago attending a seminar with the renowned speaker and mentor Jim Rohn. He asked us all what we did for a living and the responses ranged from chartered accountant to broadcaster. I was the broadcaster. He then asked us what we liked to do most when we were 10 years old. Everyone's face lit up as we went around the room telling each other's stories. I recalled that when I was ten, my father built a makeshift radio station in our den...with an amplifier and record player to spin records like a real DJ. It was there in my make believe radio station broadcasting to my Mother on a 9 inch speaker in the kitchen that I found true happiness. With my Mom as my #1 fan I did indeed find my true passion.

His theory was that whatever we loved to do when we were ten years old, at some point we will wind up doing that, which in turn will become our true passion and our greatest enjoyment. Until then we are just doing our job. What did you love to do when you were ten years old?

Buddha says: "Deeds done in harmony with one's path of life are those which bring clarity and peace and harmony to the doer".

Monday, September 19, 2005

THE TRUTH...YOU CAN'T HANDLE THE TRUTH!

As you all know, I am a huge fan of Fast Company Magazine and in particular, the regular on-line daily dose of First Impression or Fast Takes. Some of the world's best journalists appear with columns of relevant interest to not only myself but the readers of this blog. So on many occasions you will see me transpose these stories on to the blog with the permission and suitbale acknowledgement for Fast Company. The other day, an example of the ""Big Business-Big Politics" syndrome appeared in my daily e-mail, and I felt compelled to bring you the truth....that is if you can handle the truth.

Two journalists interviewing two different individuals with the same mission. Daniel Pink talks to Charles Lewis, a former high profile broadcaster about Wall Street and Washington---strange bedfellows in the rising tide of corporate greed. And Keith Hammonds interviews Eliot Spitzer,the New York Attorney General who has been fighting an uphill battle to uncover the truth on Wall Street and putting people away for their crimes.



Abraham Maslow defined self-actualization as the process of discovering what you were made to do and making a commitment to do it with excellence. That is what the three circles are all about: making self-actualization work in a capitalist society. No one ever reached self-actualization simply by seizing a bubble moment to get rich and retire. Similarly, no one ever self-actualized by taking the cockroach strategy of just hunkering down and trying to survive until difficult times passed.

There are, of course, no guarantees. Luck is always a factor, and the dice can roll against you. But that does not change the fact that those who go about their lives and work with the passion to create and build in pursuit of self-created goals are the only ones who will find meaning in the end -- regardless of whether the dice roll their way. The fact of the matter is that life is short, and we only carry to our graves the inner integrity of our efforts. Only we know how we lived our lives, whether we cut corners, whether we did anything of value -- or whether we took the built-to-flip approach to life.


In 1989, Charles Lewis left the world of high-profile broadcast journalism to invent the world of what he calls "public-service journalism." Lewis, who was awarded a MacArthur Fellowship in 1998, founded the Center for Public Integrity in 1990 to pursue investigative projects that the major media were neglecting. During the past 12 years, the center has produced 10 books and more than 100 reports documenting the often-sordid ties between big money and big politics.

Isn't the problem limited to a few bad apples?

Not unless the whole world is your orchard. That's a lot of apples, folks! More companies are restating their earnings now than at any time in U.S. history. And by the way: They have dumped hundreds of millions of dollars into the political process to weaken any laws that might exist to curb the excesses.

So Washington is complicit in this?

You can't look at Wall Street without looking at Washington. They're joined at the hip. Congress and the politicians were the enablers for those scandals. They needed the campaign cash. The corporate executives needed certain favors. Everyone got what they wanted -- except, of course, investors and the public. Ninety-six percent of Americans don't contribute to political campaigns at all. The wealthiest elements of this country are sustaining and sponsoring the political process and its actors. What that means is that you get a government that's essentially bought and paid for by the powerful interests affected by those decisions.

If that's right, where's the outrage?

The outrage is muted, because you don't know who to trust. In 1994, we had Newt Gingrich's Contract with America and a new Congress coming to Washington to turn the city on its ear. In their first six months in office, those new members took more campaign money than any previous freshman class in the history of the Congress. We know what happens to Mr. Smith Goes to Washington. It becomes a Stephen King movie.

Do people not want to hear the truth?

Sometimes it does feel like we're trying to force people to drink castor oil. People don't really want to get bad news. But information is power. Until you find out the truth, you can't dig yourself out of the mess.

Who can people trust today to tell us the truth?

It's a very short list. Everyone has been discredited. We have a situation where we don't trust our government or our capitalist system. The level of distrust right now is probably unparalleled since the 1930s.

Is there a way to rebuild that trust?

You set tough standards, and you actually -- what a concept! -- enforce them. You have transparency. You have openness. You have a set of rules. You enforce those rules. I'm sorry if it sounds old-fashioned, but it's time for leadership. In the boardroom. In the Oval Office. On Capitol Hill. Our leaders can't think it's just a few bad apples. They have to take this very seriously and exert new standards in our society. In that sense, it's an exciting moment. We didn't talk like this a year ago.

by Daniel H. Pink

The Investigator: "People Will Be Going to Jail"

MEET ELIOT SPITZER

New York attorney general Eliot Spitzer fits the part of the crusading cop. Last May, his crusade won national notoriety when Merrill Lynch agreed to pay a $100 million fine to atone for the misleading recommendations made by its research analysts.

Spitzer's office is still sniffing out conflicts of interest among Wall Street's analysts and bankers, focusing for the moment on the analysts who are covering failed telecom companies such as WorldCom and on bankers' practice of allotting initial-public-offering shares to favored clients.

What kind of financial crimes are you investigating?

There are two sets of crimes. One is the gamesmanship of CEOs with the numbers. That is elementary fraud. That crime originated in the field, driven by CEOs who wanted to trigger their options or hit unrealistic numbers. They fabricated numbers. That's old-fashioned stuff. The crime that originated on Wall Street was a result of the conflicts and tensions that exist when you have that many decision makers and that much money floating around. The analysts, the investment bankers, the underwriters -- there was an ease with which money could be shifted and markets could be pumped.

Wall Street's stock research has been corrupt for years. Why hasn't anything been done before?

When the market was going up, there was less pain, so there weren't as many complaints. Plus, there were checks and balances that used to exist in the corporate context. You had outside auditors, directors, regulators, shareholders. Every one of those checks fell prey to the notion that things were going so well, no one needed to pay attention. The ease with which people made money masked the underlying tensions. It's when everything falls apart that people start questioning the system.

So the solution is for those people to pay attention?

The solution must involve all market participants. It requires a renewed sense of ethics at every level. It means that CEOs can't simply tell their investment bankers, "Fire this analyst," if a report isn't favorable. It means that the president of the investment bank has to have the willpower to say, "We're not going to change our analyst report just because you're significant banking clients." And mutual funds have to tell their investment bankers, "We expect more of you." I've been telling the trustees of pension funds, "Hey guys, it's your money. You are ultimate fiduciaries, and you have the capacity because of your leverage to set the rules." I think we'll see an awakening on the part of all of those overseers and an end to the era of the imperial CEO.

Where will all of this stand a year from now?

People will be going to jail. Individual criminal liability will be found. Just as important, there will be a rewriting of the rules. Our inquiries and those of others will continue, and the new rules will emerge as a function of individual settlements. Ultimately, we'll see a new structure within which analysts have to operate and new rules about IPO issuances.

Do the people who run Wall Street realize now that they've been doing something wrong?

I'm not sure. I do believe there is a renewed attention to the underlying ethical problems posed by the conflicts of interest on Wall Street. But I don't know whether there is any sense of remorse for wrongdoing.

by Keith H. Hammonds

Buddha says: "A man whose words are lies, who transgresses the Great Law, and who scorns the higher world---there is no evil this man may not do".