“Nielsen Acknowledges It Misses ‘Live’ Streamers,” The Wall Street Journal December 7, 2017 B3. Networks don’t get full credit on the viewing statistics (number of viewers for a particular show) for all the live viewers. Apparently, those viewers who stream certain broadcasts aren’t fully counted.
What do you do when technology changes, and it’s harder to count what you’re used to counting? How do you price your offering? What’s your information worth?
“Wells Fargo Fires A Top Official, The Wall Street Journal, November 18, 2017 B1. Head of commercial lending canned because he said bad things to a fellow employee about regulators (and how they were affecting golden parachute payments) .
Think about that. He didn’t write it down; he just said it. Not outside the company, even.
True, his firing may have been expedited by all the other legal issues Wells Fargo has been having. But he may not have gotten much of a parachute.
Information controls apply to unwritten information, too.
Filed under Communicate, Communications, Compliance, Controls, Culture, Definition, Duty, Employees, Governance, Information, Internal controls, Management
When someone touts numbers, what do they really mean?
“Your Lost Luggage May Not Count as Lost,” The Wall Street Journal, November 16, 2017 A12. The “official” figures on how many pieces of luggage each airline misplaces are different than how many bags get lost. The government defines the operating statistics that must be reported.
Are your sufficiently critical when someone gives you numbers? Especially when it affects their compensation?
One of the early warning signs of most crises is a similar problem elsewhere in your industry.
“EU Officials Raid BMW’s Headquarters,” The Wall Street Journal, October 21, 2017 B2. Raid was apparently looking for evidence of antitrust violations in the industry, perhaps including agreements on emissions technologies.
Is this related to the emissions scandal at VW and other car makers?
If you’re a European car manufacturer, does this raise the risks of what’s in your information systems and files today? How can you address?
The adventure continues, after Kobe Steel announced earlier this month that workers at several different facilities had fudged paperwork on product quality, dating back to at least 2007. Apparently, getting that type of paperwork accurate is important. To someone.
“U.S. Looking Into Kobe Steel Scandal,” The Wall Street Journal, October 18, 2017 B3. Department of Justice kicks off a request for information after company disclosures about practices in Japan. Affects product sold into manufacturers of train, planes, and cars.
More to follow. Expect Congress to weigh in shortly. Again, the problem occurred in more than one facility, over a period of years. Is that a failure of compliance, or culture, or both?
An example of the intersection of governance, compliance, and information.
Filed under Accuracy, Compliance, Controls, Corporation, Culture, Data quality, Definition, Duty, Duty of Care, Employees, Governance, Information, Internal controls, Oversight, Reliance, Use, Value
“Kobe Steel Discloses More Reporting,” The Wall Street Journal, October 14, 2017 B3. Falsification of quality documents is much more prevalent than first reported at Kobe Steel. Twice the number of customers now involved. 500.
Once you find a rotten apple, one can make certain assumptions about the rest of that barrel. It’s a culture issue, at its core.
Filed under Accuracy, Board, Compliance, Compliance, Compliance Verification, Controls, Corporation, Culture, Culture, Data quality, Definition, Directors, Duty, Duty of Care, Employees, Governance, Information, Internal controls, Oversight, Oversight, Policy, Protect assets, Protect information assets, Third parties
“Lawmaker Is Focus Of Ethics Report,” The Wall Street Journal, October 12, 2017 A3. A congressman is accused of misusing his public office and sharing non-public information about a company’s drug trials with other investors.
Here, the three threads (governance, information, and compliance) all come together. A member of the governance structure allegedly violates the law and discloses non-public information that was likely material to some but not all investors. How will the Yates memo apply here?
Can you hang high-ranking executives higher than the run-of-the-mill cheater?