"Madoff Mania" - Worldwide Sr. Execs Tell Doremus/Financial Times That Trust Continues to Erode

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) January 15, 2009 -- Doremus, the global business communications agency, and the Financial Times, announce the results of their sixth annual “Decision Dynamics” global online survey, which takes the pulse of over 300 senior executives representing a mix of industries and company sizes in North America, Europe and Asia.

Overall, the level of trust in suppliers has been declining since the survey first began in 2003. Continuing with this trend, trust has declined sharply in a number of categories this year.

Trust in investment and commercial banks is down across the board.

Small and mid-sized companies in particular have slipped in their regard for both investment and commercial banks.

The worst offending supplier?
Telecommunications scored the lowest grades for trust with Europeans reporting the largest decrease in trust across all the technology categories (tech consulting, software, hardware and telecommunications).

Where there’s lack of trust, there’s always opportunity
Buyers are looking at several criteria beyond simply purchasing a quality product or service at a competitive price. These criteria are opportunities for suppliers to restore trust and out-perform competitors.

High ethical standards top the list

As in prior years of the survey, “high ethical standards” was the standard of excellence deemed most important by survey respondents.

Following closely behind high ethical standards were:
• Financial performance
• Strong management
• Solid business strategy
• Corporate governance
• Stable employee relations
• A well regarded brand name

“Senior executives today, more than ever, want to work with suppliers that exhibit corporate integrity,” said Carl Anderson, CEO of Doremus. “Companies that can not only say what they stand for, but back up those words with quality products and superior customer service will eventually ignite trust.”

For further information, please contact:

Marianne Flatley, Public Relations Director
Doremus
212-366-3682
mflatley@doremus.com

Darcy Keller
Head of Communications, The Americas
Financial Times
212-641-6614
darcy.keller@ft.com

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