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A BROADCASTER'S CREED FOR AMERICAN BUSINESS
Frank P. Fogarty's seven-point creed was delivered to the Henry Monsky Lodge of the B'nai B'rith, Omaha, on his acceptance of an Americanism Citation Award from that organization. Only a small group heard the speech, but it aroused tremendous interest among businessmen with the result that Meredith Broadcasting Company, of which Mr. Fogarty is executive vice president, was deluged for copies locally. Copies of the full speech can be obtained by writing Meredith WOW, Inc., Omaha, of which Mr. Fogarty is vice president and general manager. He is also Chairman of the Board of Badio Advertising Bureau.
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We believe that business should earn a profit, and that it should wear its profits proudly. Too long have we permitted short-sighted critics to point the finger of shame at profits, as something to be schemed, bargained and taxed out of existence.
We believe that business should be more eloquent and evangelistic in explaining and defending the profit system, otherwise known as free enterprise. We have failed to convince the people that out of profits must come the money to make jobs, to promote philanthropy, to support the government, and to finance the growth of the country. We have erected what we fondly hope are adequate defenses for the physical targets of the Communists, but we have failed to provide for the defense of their ultimate targets, our profit system, our democracy and our faith in God.
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We believe that a business should be deeply integrated into the community it serves, so that it will know the needs, desires and problems of that community.
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We believe that a business should accept its full share of responsibility for the things that make a community a better place in which to work and live. Concretely, this means that a business should interest itself in schools, churches, hospitals, parks, museums, settlement houses, health and welfare organizations, old people's homes, and nurseries, among other institutions. . . .
We believe that a business should be a good citizen in the formal or political sense of the word. It should of course pay its just share of taxes fully and promptly. Over and above that, it should take an interest
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U. S. RADIO/August 1961