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cA ^Season qf cHead-Vuqtiiig? Robert M. Trueblood at the Hayden, Stone Forum New York, New York November 10,1966 For the past 15 years, Hayden, Stone Incorporated, stock brokers, have conducted forums to which prominent corporate and financial officials are invited to give the outlook for their companies to the investment banking community. The forum at which Mr. True-blood spoke was the fifth in a series dealing primarily with accounting principles. A SEASON OF HEAD-HUNTING? Leaders must look ahead—they must try to detect and to weigh those events and conditions of the present which provide clues to the events and conditions of the future. This duty applies to leaders in any field. Certainly it is true with respect to business. You gentlemen represent leadership groups in all parts of the business world. And it is my purpose today to lay before you what I believe to be signs of po-iential dangers to business and to suggest what can be done to avert them. Ever since there has been such a thing as "big business" in our country, its reputation with the public has fluctuated. In the latter part of the 19th Century and the early years of this one, business was violently attacked. That was the period of muckraking and trustbusting. Newspapers and magazines were full of diatribes against the railroads and the great industrial organizations of the day. A book called "Wealth Against Commonwealth" which appeared in 1894, had an immense circulation and was enthusiastically applauded in press and pulpit. Public hostility toward some of the business practices of the day expressed itself in the Interstate Commerce Act, the Sherman Anti-Trust Act and other regulatory measures. Another wave of anti-business sentiment came in the 1930's. The air-waves vibrated with denunciation of "princes of privilege" and "malefactors of great wealth." This time, bankers were the favorite whipping-boys. And once again legislators—the elected representatives of the people—responded to popular sentiment by enacting a long list of regulatory measures: the Federal Securities Act, various banking acts, the 2 THE QUARTERLY
Object Description
Title |
Season of Head-Hunting? Robert M. Trueblood at the Hayden, Stone Forum New York, New York, November 10, 1966 |
Author |
Trueblood, Robert M. |
Subject |
Accounting -- Standards -- United States Fraud |
Personal Name |
Trueblood, Robert M. |
Portrait |
Trueblood, Robert M. |
Citation |
Quarterly, Vol. 13, no. 1 (1967, March), p. 02-06 |
Date-Issued | 1967 |
Source | Originally published by: Touche, Ross, Bailey & Smart |
Rights | Copyright and permission to republish held by: Deloitte |
Type | Text |
Format | PDF image with OCR under text, scanned at 400dpi |
Collection | Deloitte Digital Collection |
Digital Publisher | University of Mississippi. Digital Accounting Collection |
Date-Digitally Created | 2009 |
Language | eng |
Identifier | Quarterly_1967_March-p2-6 |