The world of Wall Street and big finance has taken a strong hit over the past three years. The lingering effects of the economic challenges will continue to be felt for years to come across the globe, and “Wall Street” becomes a natural target for many people.
Marshall Carter, the focus of our current Conversation, is easily labeled with Wall Street and big finance. He is presently the chairman of the board of the NYSE group, and is retired chairman and CEO of State Street Bank in Boston, a Fortune 500 company. But you will quickly see as you read his responses that does not fit the stereotype ”Wall Street” label. We have divided our Conversation with him into two pieces. In Part 1, Carter talks about the speed of the market, the need for transparency, the challenges for business reform, and the financial reform legislation. In Part 2, posted in mid-September, he focuses on ethics, leadership, and offers advice to new leaders.
Elsewhere in this issue, Kenman Wong comments on what a company should do regarding its drift away from its foundational values, Roger Eigsti comments on the recent firing of HP CEO Mark Hurd, my column deals with the potential for cell phone technology to undermine innovation and society, and our guest essay writer, Jim Moats, discusses the “gift of limits” for business leaders.
We look forward to your comments on any or all of the articles.
The next issue will feature a Conversation with the ultimate entrepreneur Guy Kawasaki. We have reviewed his latest book in the current issue, Reality Check, which offers a treasure trove of advice for anyone starting a company. Look for that Conversation to be posted mid-October.
Al Erisman
Executive Editor