The credit reporting agency announced Thursday that the personal information of as many as million people was compromised in a data breach between May and July.
It is a great privilege and responsibility to manage the assets clients have entrusted to us, most of which are invested for long-term goals such as retirement.
Inequities enjoyed an extraordinary run — with record highs across a wide range of sectors — and yet popular frustration and apprehension about the future simultaneously reached new heights.
We are seeing a paradox of high returns and high anxiety.
Since the financial crisis, those with capital have reaped enormous benefits. At the same time, many individuals across the world are facing a combination of low rates, low wage growth, and inadequate retirement systems.
For millions, the prospect of a secure retirement is slipping further and further away — especially among workers with less education, whose job security is increasingly tenuous. I believe these trends are a major source of the anxiety and polarization that we see across the world today.
We also see many governments failing to prepare for the future, on issues ranging from retirement and infrastructure to automation and worker retraining. As a result, society increasingly is turning to the private sector and asking that companies respond to broader societal challenges.
Indeed, the public expectations of your company have never been greater. Society is demanding that companies, both public and private, serve a social purpose. To prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society.
Companies must benefit all of their stakeholders, including shareholders, employees, customers, and the communities in which they operate.
Without a sense of purpose, no company, either public or private, can achieve its full potential. It will ultimately lose the license to operate from key stakeholders.
It will succumb to short-term pressures to distribute earnings, and, in the process, sacrifice investments in employee development, innovation, and capital expenditures that are necessary for long-term growth.
It will remain exposed to activist campaigns that articulate a clearer goal, even if that goal serves only the shortest and narrowest of objectives. And ultimately, that company will provide subpar returns to the investors who depend on it to finance their retirement, home purchases, or higher education.
As a result, our responsibility to engage and vote is more important than ever.
In this sense, index investors are the ultimate long-term investors — providing patient capital for companies to grow and prosper. Just as the responsibilities your company faces have grown, so too have the responsibilities of asset managers.
We must be active, engaged agents on behalf of the clients invested with BlackRock, who are the true owners of your company. This responsibility goes beyond casting proxy votes at annual meetings — it means investing the time and resources necessary to foster long-term value.
The time has come for a new model of shareholder engagement — one that strengthens and deepens communication between shareholders and the companies that they own.
If engagement is to be meaningful and productive — if we collectively are going to focus on benefitting shareholders instead of wasting time and money in proxy fights — then engagement needs to be a year-round conversation about improving long-term value.
BlackRock recognizes and embraces our responsibility to help drive this change.Sep 08, · If your information was exposed, Equifax is offering free identity theft protection and credit file monitoring services. But the offer comes with some conditions that may make you think twice.
Jan 21, · I’m a senior editor in charge of Forbes’ education coverage. Share to facebook Share to twitter Share to linkedin My son, a freshman at UCLA, recently asked me how to write a cover letter.
Sample appreciation letters with must-know tips, easy steps, sample phrases and sentences. Write your appreciation letter today. Greg Butler – rutadeltambor.com Page 4 Retirement Letter Template Your Name and address Date Employer name and address Greeting Dear Mr/Ms- Surname, or First name, depending on relationship.
Larry Fink’s letter to CEOs on how companies must have a social purpose and pursue a strategy for achieving long-term growth. Choosing a corporate retirement gift is certainly not an easy task. However, by using our guide you can come up with a great choice - check it out.