Posted on 08/03/2015 8:14:18 AM PDT by rktman
“Now the people who were just clocking in and out were making the same as me,” he told the paper. “It shackles high performers to less motivated team members.”
(Excerpt) Read more at pjmedia.com ...
20th Century Motor Company:
Well, let’s see how this company copes with “unintended consequences” of what was supposed to be an enlightened action.
I think some freepers predicted this. Of course I bet many thought it would take a little longer.
bump
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Didn’t take long....................
Suicide doesn't take long.
I do a lot of work with Human Resources folks. So often, I hear the “It’s not fair!” cry when I push for more differentiation. The reality is about 5% of a company’s people make the difference between success and mediocrity. You cannot afford to lose that 5%.
Didn’t take long for him to tank his business did it?
Its (mostly it turns out) his company. He can run it anyway he sees fit.
If he finds a formula to keep employees happy and run his business, then its a win-win. Good for him. I understand he’s gained a lot of new business and free publicity from his gesture.
At the same time though, seems he’s upset the harder-working employees of his firm, and put himself in a spot with profits, as well as other investors. In that case, his idea is just bad management.
Whenever someone asks, “How many people work at your company?”, I say, “About half of them.”......................
And Hank Rearden said, “there’s no such thing as a temporary suicide.” “Chapter 6, Part III, is one of my favorite chapters, “The Concerto of Deliverance.”
Who is John Galt?
Profits are necessary as the means and motive of production, and a growing productive process is necessary for economic progress, which is necessary for prosperity. A business owner should aim for high amounts and rate of profits in order to be able to save and invest more.One way to achieve high profits is to control costs by keeping wage rates at market levels and by not paying higher than market prices for capital goods.If the owner wants to reward highly valued employees, he can give them bonuses.
Has anybody explained “inflation” to these nitwits? If EVERYBODY makes $70,000 a minimum of per year, then bread goes to $10 a loaf, and apartment rent goes to $3,000 per month.
Are you one of the Nike crewmen?
I was in 1959 to 1961.
a few customers, dismayed by what they viewed as a political statement, withdrew their business. Others, anticipating a fee increase — despite repeated assurances to the contrary — also left. While dozens of new clients, inspired by Mr. Price’s announcement, were signing up, those accounts will not start paying off for at least another year.
Yea,that’s why he renting out his house to make ends meet.
Capitalism worked!
But now people are calling it communism? CEOs shouldn't be allowed to make decisions that they think will help the company, but might in fact have th r opposite effect? If that happens, we lost capitalism?
I think I read somewhere that his brother is suing him...he is the epitome of ‘social’ feelgood politics. The same mindset that says to the Iranians “let’s be friends”, “make peace nit war”...self annihilation....
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