Overcoming Short-termism: A Call for a More Responsible Approach to Investment and Business Management

We thought you would find the attached Aspen Institute study, "Overcoming Short-termism: A Call for a More Responsible Approach to Investment and Business Management" of interest. The study offers recommendations on the problems of short-termism and discusses three specific key leverage points: Market Incentives, Fiduciary Duty and Transparency (strengthening investor disclosures).

The signatories of the study, including Weil, Gotshal & Manges senior partner, Ira Millstein, together with varied signatories as Warren Buffett, John Bogle and the AFL/CIO, have a wide range of affiliations, backgrounds and experience as participants in the capital markets. They are urging prompt and serious consideration of these policy initiatives which they hope will promote the sustainable growth and investment returns that are essential to healthy capital markets.

Since 2004, the Aspen Institute Business and Society Program, and specifically its Corporate Values Strategy Group (CVSG) has been facilitating dialogue among corporations, organized labor, public pensions and other institutional investors, and government, academic and judicial leaders. Organized around the pervasive and destructive problem of market short-termism, CVSG aims to promote business, government and market practices that curb short-termism and refocus the relevant players on creating long-term value for all stakeholders, with special focus on augmenting the voice of long-term oriented investors.

A link to the full report is attached: http://www.aspeninstitute.org/bsp/cvsg/policy2009