This practice helps keep the organization focused on managing compliance risk. To ensure that issues are escalated as they arise, the compliance staff embedded within the business lines should be independent and should have a clear reporting relationship to the corporate compliance-risk management function.
Our floating dollar has appreciated sharply and thus, has forced some necessary adjustments. As their competitive positions improved, our commodity producers have been able to absorb some of the resources that were being shed by the noncommodity sectors, which have seen their competitive positions deteriorate. As a result, we've seen a shift in relative wages without fueling inflation.