Americans’ trust in corporations plummets
Earlier today I came across an intresting article from of all places The South Florida Business Journal regarding an interesting study from the Edelman Trust Barometer commissioned by Edelman Worldwide.
One of Barack Obama’s campaign messages was the need to restore trust, and, if a new survey is any indication, he’s got his work cut out for him.
Nearly two-thirds of the public trusts corporations less than they did a year ago, according to the 10th Edelman Trust Barometer.
Just 38 percent of respondents said they trust business to do what is right – down 20 percent from last year. And that lack of trust comes from the top. Only 17 percent said they trust information coming from a company’s CEO. That’s lower than those Edelman measured after the Enron scandal, the dot-com bust and Sept. 11.
“It has been a catastrophic year for business, well beyond the evident destruction in shareholder value and need for emergency government funding,” said Richard Edelman, the organization’s president and CEO.
The survey, he said, confirms that it’s going to be hard to rebuild the economy because “no institution has captured the trust that business has lost.”