Corporate and other apologies are losing credibility. That’s the message from DealBook and Andrew Ross Sorkin (author of Too Big to Fail), as told in this introduction story. The new story of "sorry" is intended to create an ongoing theme and data – see Twitter at #Sorrywatch.
The message is worth consideration by risk managers and C suite officials. The opening lines to the story are:
"It seems that just about every day a chief executive, politician or other prominent figure is apologizing for something.
Target’s chief executive, Gregg W. Steinhafel, apologized for a security breach that affected as many as 110 million customers. Jamie Dimon of JPMorgan Chase apologized, multiple times, for his firm’s regulatory lapses. Gov. Chris Christie of New Jersey apologized for controversial bridge lane closings and traffic jams. The venture capitalist Tom Perkins apologized after comparing the treatment of America’s wealthiest to the treatment of Jews in Nazi Germany. LeBron James apologized for using the word “retarded,” calling it a “bad habit.”"