Global+Companies-+Known+Unknowns



Above is an exclusive article written by The Pitts Financial Institute's founder, CEO, and a greatly respected leader in the world of corporate finances, Gentri P. regarding hidden factors that we must consider when we make our top 10 lists. Here at PFI, we feel that all of our customers should be aware of how we at The Pitts Financial Institution choose the company names that comprise our annual Top 10 Lists of the Best Global Company to Work For. It is up utmost importance that our customers are well informed, and, like a good neighbor, know that thier financial advisors are friendly, honest, and there for them when needed.

Gentri Pitts Mr. Wiggs CEC-WD2 April 25, 2011 Global Companies: Known Unknowns When instructed to create a list including the top ten companies around the world to work for, the first thing that came into my thoughts was not how I would make the list, or what sources I would use, or, for that matter, even the criteria I would examine to determine the list. My initial concern was regarding what we don’t know, but know is possible, even likely (Rumsfeld). How can I know that my sources are including what occurs in these companies ‘behind the scenes,’ and what remains untold in regard to possible illegal situations within the company and details that could rank them inferior instead of the top ten where the world outside believed that particular company should be ranked (Child Labor Today)? “There are known knowns. These are things we know that we know. There are known unknowns. That is to say, there are things that we know we don't know. But there are also unknown unknowns. There are things we don't know we don't know” (Rumsfeld). The fact is, regardless of the status of American discovery of weapons of mass destruction, this wordy statement by former Secretary of Defense Donald Rumsfeld is accurate, and can describe countless situations everyday throughout the world. Unconfirmed events, often of illicit nature, occur so many more times than reported, as well as confirmed (Fair Labor Standards Act). It is this sole factor alone that makes it all but impossible to accurately assess the best global companies to work for, regardless of the amount of evaluated criteria.

For example, the well respected clothing company in the Western world, Gap, was found to have children illegally manufacturing clothing in horrible conditions (McDougall). We knew a situation such as that was very possible, considering India has a reputation for child labor, and that there could perhaps be children unlawfully creating clothing for a global company, but we couldn’t confirm it until the ‘behind the scenes’ deal was discovered and busted up (McDougall). This obviously had an impact on the company’s reputation for high work quality. How can we know that this does not happen to other well known, and likely well respected global companies as well; ones that seem to meet all the criteria for great working conditions? That’s exactly where the problem arises. We can’t know for sure what goes on behind closed doors. This is why, when creating my top ten list of the best companies around the world to work for, I will have to keep in mind that, while possible, there is no published evidence to support any claims that would shake a company rating from number 4 to number 400 that I can find. While inspection history could be important, as well as hours of research, events such as illegal child labor and circumstances that go on out of the public’s ‘eye’ will remain known unknowns until solid, undeniable evidence can prove otherwise (Child Labor Today).