Page one of the “Daily Record.”
The C.E.O. “laid off” Joe and thousands of his co-workers when the profits of the company indicated that the multi million dollar salaries and bonuses for top executives were in jeopardy.
If the fact that Joe, ‘being faced with the loss of his income’, resulted in the foreclosure of his home and his inability to provide for his family was noticed at all; it would be a tiny paragraph on page 24 of the newspaper, or as a filler for the nightly newscast on television.
What has lately grabbed the attention of the media is that the shareholders have begun to realize that mismanagement has been the major cause of dwindling profits. There is even talk of, (God forbid), “laying off” the C.E.O.
My personal opinion is that any C.E.O.; worth the millions of dollars in salary; could have foreseen the diminishing returns on the shareholders investments and ‘elected to lead by example.
Surely, he could survive with a lower salary and without any bonuses, until such time as the company was again healthy.
Apparently, the reason for non-compliance with this method of thinking is no more than greed. Joe, on the other hand, was only concerned with providing for his family’s welfare; but he is the one who will suffer the most.
Be that as it may; my main gripe is with a media that will grasp the executive’s side of the argument and give it world-wide attention; while practically ignoring Joe’s predicament.
Somehow, placing an executive on the pedestal and leaving the lowly workers to grovel leaves a sour taste in most of our mouths.
Aren’t we all in this together? It id doubtful that a conglomeration of C.E.O’s, alone; could result in the successful profits that Joe and his co-workers produced for the organization; and yet; “Who were number one on the discharge list, when the tally was made?” “It don’t quite make sense., Does it?”