Time to throw all those 'PR for Beginners' textbooks onto the pyre,
with news that bad publicity does not a financial disaster make.
With the FTSE gearing up to launch its FTSE4Good indices in June,
investment mag Money Observer has countered with its own listing, the
The roster is comprised of firms whose behaviour is deemed reprehensible
because of engagement in damaging or anti-social practices (weapons or
instruments of war, products tested on animals, or manufacturing
processes adding to pollution or infringing human rights, etc).
The inevitable result is that the 'nasty' stocks have outperformed the
good 'uns over the last five years. Money Observer deputy editor David
Prosser admitted that as consumers 'we may want a greener future but are
not yet seeking out ethical companies.'
Astonishing proof, then, that unwaged child labour is better for
business than paying the minimum wage, and that depositing waste onto
the local pleasure beach cuts waste disposal costs. The battle for a bad
reputation begins here.