Corporate Leaders Tout Philanthropy's Benefits Amid Grim Financial News
The foundation executives also stressed that philanthropy could play a role in helping to maintain some goodwill toward corporations in an era in which hefty bonuses, the near-collapse of many financial institutions, and the Madoff scandal has produced a backlash against big business.
Quoting a friend, Mr. Corcoran, of GE, described philanthropy and corporate social responsibility as “insurance 2.0” on a company’s reputation.
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