Being religious can be good for business. That is the premise of an editorial in Businessweek by Linda Livingstone, dean of the Graziadio School of Business and Management at Pepperdine University. The piece notes UCLA research which found that undergraduates’ “religious engagement during college did languish but overall, students’ spirituality increased.” This is just what Livingstone hopes will happen on her campus – not what Republican candidate Rick Santorum aims to correct as he recently cited a study which found that 62 percent of those who enter college with a faith conviction leave without it. She writes:
Many of our students find their personal religious faith serves as a foundation to help guide life’s decisions. The college experience allows students to develop themselves and their skills.
Values-centered leadership should not be confused as simply “doing good” without regard to fundamental business principles. In fact, many highly successful corporate leaders incorporate deeply held faith into their business models. These values empower them to respond to the unrelenting pressure to maximize profit at any expense.
She cites Whole Foods CEO John Mackey’s mantra of running the business with an eye toward a higher purpose over a quarterly profit, which is supported through corporate and employee philanthropy and volunteerism.
Job openings in London’s financial sector rose by 9 percent in April over March. [Financial Times]
Referral fees brokers collect from exchanges cost investors $5 billion a year. [NY Times]
Barclays is offering incentives to lure U.S. retail business. [WSJ]
The average daily trades of American stocks fell by half to 6.5 billion in April from the 2008 peak. [NY Times]
Defecting bankers give their reasons. [New York Magazine]
Ally Financial’s mortgage unit may file for bankruptcy. [DealBook]
Financial advisors target clients’ Gen X kids. [Investment News]
The purchase of the StarHub Green project marks Blackstone’s its first acquisition in Singapore. [Reuters]
College grads turn to unpaid internships. [NY Times]
Why we work the weekend. [Businessweek]