The 18th Minnesota Business Ethics Awards honored nine finalists and three award recipients on May 10, which for the 4th year was proclaimed Business Ethics Awareness Day in Minnesota by the Governor. Attendance was 254, a great turnout. The MBEA award recipients were—USBank, Reell Precision Manufacturing, and Brenny Transportation. Each received the BEA crystal trophy and a letter of congratulations from Governor Dayton.
A major event highlight was a conversation between Neel Kashkari, president of the Minneapolis Federal Reserve Bank, and John Taft, former CEO of RBC Wealth Management in the US. And what did they discuss (see the video) …. ethics, leadership, regulations, Dodd Frank, too-big-to-fail, Wall Street, Las Vegas, even getting a home mortgage. Kashkari emphasized the need for special attention to banks that are too-big-to-fail and called for higher capital reserves for those banks. Both underscored the critical importance of ethical leadership, but Kashkari stressed that appropriate regulation is also essential. Whatever the solution, both financial executives agreed Main Street and Wall Street are closely interconnected.
This video of the Kashkari-Taft conversation at the MBEA luncheon was produced by the Federal Reserve Bank of Minneapolis:
CEBC is co-founder of the Minneapolis Business Ethics Awards (MBEA). For more on the MBEA see: www.mnethicsawards.org