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May 24, 2018 By Richard Bowen

The 2018 Greater Dallas Business Ethics Award: More Than Expected!

The North Texas Ethics Association (NTEA)  has honored more than 40 local companies with the Greater Dallas Business Ethics Award (GDBEA) since its beginning in 2000. As the website says of the award: “These companies exemplify how ethics can be consciously integrated throughout an entire business.” Indeed, past winners are our community’s luminaries.

Two years ago I was their keynote speaker so I was delighted to be invited as a guest for this year’s award luncheon.

Business leader and philanthropist Craig Hall was this year’s speaker. He stressed that telling the truth is really not that complicated; being direct and transparent is good business practice.  He spoke about the savings and loan crisis of the early 1980s and his own experience as a real estate developer during that time and how so many developers took shortcuts and went to prison as a result, perhaps somewhat enticed by the government encouraging financial  institutions to be aggressive in their “loans” to developers.

Entrepreneur and philanthropist Craig Hall was the keynote speaker this year.


He said that, if shortcuts are taken, you never know when this will come back to haunt you.  Mr. Hall emphasized that ethics today are more important than ever because of the greed being displayed everywhere. He noted that we are always being tested and we need to ask ourselves often, are we taking the easy way or do we take a stand and do the right thing?

The NTEA is known for recognizing and celebrating companies that clearly demonstrate a “measurable commitment to ethical business practices in everyday operations, management philosophies and responses to crisis or challenges.” As Michael Webb, chairman of the award program says, “These companies are great examples of ethics at work. Their work reinforces the positive, ethical values of our local business community.”

They exemplify businesses operating under ethical principles and doing the right thing for their company and related stakeholders. NTEA has a rigorous nomination and qualification process and are to be commended for their efforts. It is no easy challenge.

This year two GDBEA honorees were named. La Madeleine Restaurants, being one and also one of my favorite places in town. La Madeleine also received the Cary M. Maguire Spirit of Ethics award, which recognizes honorees demonstrating and advocating above-and-beyond ethical practices and inspire higher levels of ethics excellence. The award is named after Dallas businessman, philanthropist and NTEA supporter, Cary McGuire, who personally embodies the qualities that define principled behavior personally, in business and public service.  

I enjoyed seeing Cary McGuire, the man for whom one of the awards is named. The “Cary M. Maguire Spirit of Ethics” award was created in 2016 to recognize a company that demonstrates and champions above-and-beyond ethical practices. The Greater Dallas Business Ethics Awards program partners with the Cary M. Maguire Center for Ethics and Public Responsibility at SMU.

 

John Cahill, President and Chief Operating Officer of la Madeleine, accepted the awards on their behalf, and spoke about the company’s culture. “To be celebrated for our culture of ethical excellence is an honor,” he said. “We are grateful to be acknowledged by the NTEA for our efforts.  I am incredibly proud of our team who goes above and beyond every day to not only uphold the ethical culture at la Madeleine, but celebrate it and make it stronger.”

La Mad, as we fondly call it here in Dallas, is well known for its outstanding service and community involvement. Its receiving both awards was no surprise. La Madeleine’s French founder, Patrick Esquerré, shared with the audience: “The secret to la Madeleine’s commitment to ethics is that we operate as a family. The love and passion that comes with being a family is core to our culture and guides us in all that we do in our interactions with each other, our managers, associates and most importantly our guests. This has been true at la Madeleine since day one.”

 

John Cahill, President and Chief Operating Officer of la Madeleine, accepted the awards on their behalf, and spoke about the company’s culture.

 

What was a surprise and raised a few eyebrows was the second GDBEA honoree, AT&T.

David Huntley, the Senior Executive Vice President over compliance for AT&T, accepted the award and told us that all of their employees must take personal responsibility to uphold ethics. He noted they encourage ethical behavior and a commitment to excellence which has resulted in unprecedented growth.

The award more than raised eyebrows. Dave Lieber, with the   Dallas Morning News, known as the Watchdog columnist, was at the luncheon as well and his headline and column two days later proclaimed, “Three hours after AT&T gets the ethics award, the company is tied to the Michael Cohen money mess.” The watchdog says: give it back!

The Friday after the luncheon, AT&T CEO Randall Stephenson told employees it was a mistake to hire Trump attorney Michael Cohen and ousted the telecom giant’s top Washington executive after his office paid Mr. Cohen $600,000 last year. “Our reputation has been damaged… There’s no other way to say it, AT&T hiring Michael Cohen as a political consultant was a big mistake”

We all make mistakes. I question this one as being only that, a mistake.

Did they take the easy way?  Perhaps this will cause the company to step back and ask if their culture really is one of ethical excellence. Is ethics truly at the core of their culture? It starts at the top, after all! Without that, people will raise eyebrows. Customers will cancel their service and walk elsewhere.

The la Madeleine’s of this world, irreplaceable. The culture that celebrates its people and their customers is obvious and a shining example many more could follow.

 

Additional Photos from the event…

Michael Webb, chairman of the Greater Dallas Business Ethics Award.

 

Dr. Richard Peregoy, Associate Professor at the Graduate School of Management, University of Dallas, has served on the judging panel since 2010.

 

Patrick Esquerré, founder of le Madeleine with Richard Bowen.

 

 

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Richard Bowen is widely known as the Citigroup whistleblower. As Business Chief Underwriter for Citigroup during the housing bubble financial crisis meltdown, he repeatedly warned Citi executive management and the board about fraudulent behavior within the organization. The company certified poor mortgages as quality mortgages and sold them to Fannie Mae, Freddie Mac and other investors.

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What People Are Saying About Richard M. Bowen

William D. Cohan"Richard Bowen is one of my heroes. His is a story of human fortitude at its best and Wall Street at its worst."

~ William D. Cohan, NY Times Best Selling Author
2017-06-30T10:08:59+00:00
"Richard Bowen is one of my heroes. His is a story of human fortitude at its best and Wall Street at its worst." ~ William D. Cohan, NY Times Best Selling Author
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Eileen McDonnell"Richard Bowen reinforced my motto that "there is no right way to do a wrong thing.” Long after his presentation, the conversation has continued about personal responsibility and the courage to challenge things that appear to be wrong. We encourage this dialog and rely on it to help make our business stronger."

~ Eileen McDonnell, Chairman, CEO, & President, Penn Mutual
2015-02-13T19:51:19+00:00
"Richard Bowen reinforced my motto that "there is no right way to do a wrong thing.” Long after his presentation, the conversation has continued about personal responsibility and the courage to challenge things that appear to be wrong. We encourage this dialog and rely on it to help make our business stronger." ~ Eileen McDonnell, Chairman, CEO, & President, Penn Mutual
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"Richard Bowen, you are a star and a hero." ~ Ben Stein, Economist and Political Commentator
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Jim Farrell"Richard's speech at the April Financial Executives International dinner was informative, interesting, riveting, and fast moving.  The feedback from members was overwhelming positive, and Richard received one of the few standing ovations given by our membership."

~ Jim Farrell, Program Chairman, Dallas Chapter, Financial Executives International
2014-12-28T19:48:17+00:00
"Richard's speech at the April Financial Executives International dinner was informative, interesting, riveting, and fast moving.  The feedback from members was overwhelming positive, and Richard received one of the few standing ovations given by our membership." ~ Jim Farrell, Program Chairman, Dallas Chapter, Financial Executives International
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Dennis McCuistion"Richard Bowen has been there, done that, and has the scars to prove it, and his message of corruption at the highest levels of industry and government needs to be heard. I only wish that more bankers had the courage that Bowen exhibits. He is not only one of the most talented bankers I have ever met, he has more integrity than all the bankers on Wall Street put together. If his former employer had listened to him taxpayers would not have had to bail out Citi for the third time in the last 30 years."

~ Dennis McCuistion, Host of the McCuistion TV program
2014-12-28T19:48:06+00:00
"Richard Bowen has been there, done that, and has the scars to prove it, and his message of corruption at the highest levels of industry and government needs to be heard. I only wish that more bankers had the courage that Bowen exhibits. He is not only one of the most talented bankers I have ever met, he has more integrity than all the bankers on Wall Street put together. If his former employer had listened to him taxpayers would not have had to bail out Citi for the third time in the last 30 years." ~ Dennis McCuistion, Host of the McCuistion TV program
https://www.richardmbowen.com/testimonials/533/

Betty Garrett"Richard Bowen is a dynamic, entertaining speaker and story-teller - a CPA with a great personality!"

~ Betty Garrett, Garrett Speakers International
2014-12-28T19:47:50+00:00
"Richard Bowen is a dynamic, entertaining speaker and story-teller - a CPA with a great personality!" ~ Betty Garrett, Garrett Speakers International
https://www.richardmbowen.com/testimonials/531/

fred-timmons"I believe Richard Bowen is the only keynote speaker to ever receive a standing ovation from the Texas Society of CPA’s at any of its annual conferences."

~ Fred Timmons, Chairman of The Texas Society of CPA's
2014-12-28T19:47:22+00:00
"I believe Richard Bowen is the only keynote speaker to ever receive a standing ovation from the Texas Society of CPA’s at any of its annual conferences." ~ Fred Timmons, Chairman of The Texas Society of CPA's
https://www.richardmbowen.com/testimonials/530/

Presentation Topics

Playing for High Stakes: The Principles and Practice of Ethical Leadership

Dark Citi: The Story of a Whistleblower

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Now an ethical leadership speaker, Richard Bowen was Citigroup's Business Chief Underwriter during the housing bubble.

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