Corporate Governance In Crisis:
Corporate Legitimacy in the Global 21st Century
This panel will be an interdisciplinary scholarly exploration of the crisis of confidence and legitimacy in the primary actor of global capitalism -- global corporations. Particular attention will be paid to financial institutions and emergent corporate models.
This lack of confidence was brought about, in part, due to the dominance of the morality of materialistic self-interest on the part of corporate management, coupled with a deficiency in regulatory, director, and stakeholder oversight. The resulting 2008 financial meltdown and $1.2 trillion U.S. government bailout of global financial institutions - including the need to enact the Dodd-Frank Act of 2010 - has culminated in a crisis of confidence. This crisis has been exacerbated by the delay, if not defeat, of most of the regulatory implementation of Dodd-Frank due to the success and power of corporate lobbyists.
The panel will explore the evolution of the corporate structure as well as review attempts by shareholders and stakeholders to reform corporate governance over the past three decades, including an analysis of the recent and continuing efforts by the Occupy Wall Street movement to publicize and protest corporate and financial institutions' activities.
Finally, this panel will explore new patterns of capital market organization and non-traditional business and corporate models. Corporate governance reforms need to be considered to avoid another perhaps cataclysmic global economic event occurring in this century.
John Harrington: Philosophical and Moral Underpinnings of the Crisis of Corporate Legitimacy
John Harrington is President of Harrington Investments, Inc., as well as a Manager of Community Commercial Ventures, LLC. John received his MA degree in Humanities from Dominican University. His master's thesis was entitled "The Morality of Materialistic Self-Interest: The Corporation and the State". In 2007, he received the Sonoma State University 'Distinguished Alumni' award. John is currently a PhD candidate in Philosophy at the Centre for Applied Philosophy and Public Ethics (CAPPE) at the Australian National University (ANU) in Canberra, Australia. He is the author of Investing With Your Conscience: How to Achieve High Returns Using Socially Responsible Investing (John Wiley & Sons, 1992) and The Challenge to Power: Money, Investing and Democracy (Chelsea Green Publishing, 2005).
Jonathan Lewis: Old Finance in Crisis / New Finance in Ascent
Jonathan C. Lewis is the founder and chief executive officer of the Opportunity Collaboration - a strategic business retreat and networking summit for 300 senior level anti-poverty leaders. Jonathan is also the founder and board chair of MicroCredit Enterprises, an innovative social venture which leverages private capital to make tiny business loans to deeply impoverished people, mostly women, in developing countries. Jonathan is a Lecturer at the Blum Center for Developing Economies, University of California, Berkeley.
Ron Cordes: Emergent Corporate Structures Philantro-Capitalistic Models
Ron Cordes has been involved in the wealth management industry for over 25 years. In 2006, he sold AssetMark Investment Services to Genworth Financial (NYSE:GNW), and currently serves as Co-Chairman of Genworth Financial Wealth Management, which is responsible for over $20 bb of assets under management in partnership with over 6,000 independent financial advisors. Ron is also President of the Cordes Foundation, which he established in 2006, and has committed over 30% of the Foundation's portfolio to Impact Investments, about which he writes and speaks extensively. He is a member of the Board of Regents for the University of the Pacific, as well as Chairman of the Advisory Board for the University's Global Center for Social Entrepreneurship, and is a Board member of FairTrade USA, ThinkImpact and the East Bay Community Foundation. Ron is co-author of "The Art of Investing & Portfolio Management", published in 2004 by McGraw Hill, and was recognized as an Ernst & Young Entrepreneur of the Year in 2005. He holds a BS in Business Administration from the University of California, Berkeley.