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Over the course of several decades in business, David Novak has worked his way up in the Pepsi Cola North America Co. through sales and marketing, into what was then its fast food division. In the late 1990s, the restaurants were spun off into a separate company and Novak went with them.
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"The National Leadership Index 2010, compiled by the Center for Public Leadership at Harvard University's John F. Kennedy School of Government, showed that American's confidence in their leaders was 'significantly below average' for a third year in a row. " From Values to Action, page 3.
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Of course the saying goes, "Desperate times call for desperate measures. " With our depressed economy, it can certainly seem like desperate times filled with risk on a daily basis. Perhaps you wake up in the middle of the night remembering a deadline that passed without you noticing just a few hours before, and you suddenly worry that one mistake might be the last straw.
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This may be a ghost story. It happened on a dark night mistaken for morning in America, a night that would descend over the entire financial world.
Nicholas Dunbar sets the scene in his book, The Devil's Derivatives:
For most of it's history, our financial system was built by on the stolid, cautious decisions of bankers, the men who hate to lose.
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Oftentimes, when someone lies to us, we think, "I knew that wasn't true. " Yet, for a moment, we trusted them, and we believed they were being honest. We then wonder how we could have been more certain up front, and not have been fooled.
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