28 Business Leaders Join Aspen Institute in Bold Call to Overcome Short-termism http://www.csrwire.com/press/press_...titute-in-Bold-Call-to-Overcome-Short-Termism WASHINGTON, Sep. 09 /CSRwire/ - Twenty-eight leaders representing business, investment, government, academia, and labor joined the Aspen Institute Business & Society Program's Corporate Values Strategy Group (CVSG) to endorse a bold call to end the focus on value-destroying short-termism in our financial markets and create public policies that reward long-term value creation for investors and the public good. Among the signers are John Bogle, Warren Buffett, Barbara Hackman Franklin, Jack Ehnes, Louis Gerstner, Martin Lipton, Ira Millstein, John Olson, Peter Peterson, Felix Rohatyn, Charles Rossotti, Richard Trumka, John Whitehead, and James Wolfensohn. The statement, "Overcoming Short-termism: A Call for a More Responsible Approach to Investment and Business Management," identifies three leverage points for encouraging a renewed focus on long-term value creation and for addressing one part of market short-termism, shareholder short-termism: 1. Market incentives: encourage more patient capital through tax policy 2. Alignment: better align the interests of financial intermediaries and their ultimate investors 3. Transparency: strengthen investor disclosures Ira Millstein commented that he joined this diverse group to help move discussion about reform beyond "pious wishful thinking, to the core issue in our market economy - how to incentivize capital to go long term." He adds, "The current system cannot achieve that result. The proposals presented in our statement are intended to place this issue front and center and to engender serious, realistic debate."