“You’re a great CEO by any measure,” is the perfect example of how unfit corporations are to have anything to do with governing.
Disney, the company, sucks.
When are people going to learn? There is no reasoning with a capitalist. The laws of capitalism are ingrained and belong more in the category of dogma than economics. They are adhered to as if with a religious zealotry. No person can make an argument that goes against those laws and win over any capitalist. Only by describing how some Idea can make them more money will they be heard, and quite frankly, many of those ideas will also be ignored if they go against orthodox capitalist dogma. Take climate for example, when climate wipes out the infrastructure, the insurance companies will pick up much of the tab, but capitalist dogma says we have to ignore the crisis because of the costs of recognizing it. The insurance companies adherence to this principle will ultimately destroy the insurance business completely, but they cannot break ranks with capitalist dogma on principle alone. Another example is wages. Some could show that paying better than competitors would enable you to attract the most talented and skilled, thereby making your business more efficient, and more competitive, but it goes against dogma, so companies pay the least that they can, and have high turnover, increased training costs, more accidents, higher insurance rates, poorer efficiency, increased rework, and lowered competitiveness, negative customer experience, and a corresponding degradation of community and quality of life for all - but they save on wages. Its not rational, its a religion. In the same moment they’ll spend the money on a corporate jet, or a gymnasium, or any number of other things that don’t improve their profits - its not the money, but their adherence to a principle not to pay labor.
boy, wait 'til she tours the sweatshops! fun!
sadly for her (and Disney serfs), she has as much possibility of changing that company as I do. But it was nice of her to play.
covering 100 percent of all tuition costs, books, and fees so our hourly workers can pursue higher education free of charge, and graduate free of debt
Chances are most of their workers are part time or contract workers so don’t get this ‘generous’ perk.
Capitalism never regulates itself. If it must exist at all, the only good capitalism is government regulated capitalism.
Disney’s email to Iger is but a fart in the wind. I’m sure the stockholder’s got a good laugh out of it at the next board meeting.
It is encouraging to see that at least one person of conscience exists among the billionaire capitalist class. She may be the only one, but it’s good to see.
Her recent remarks about taxing wealth was also encouraging.
One one hand, good for her. But on the other hand, Walt was not exactly the workers’ best friend nor quite as kindly as his image on the Disney shows. He famously opposed his workers welfare when they were looking for better conditions and pay. While Walt was not a Simon Legree, he was a dictatorial capitalist. This is a bit of a re-write of actual history.
Sorry Disney workers…
A living wage requires an “E” ticket.
And Disney hordes those “E” tickets so you are out of luck.
That was my thought exactly - but no mention yet…
Iger’s 2018 compensation was $65,650,000. Sharing with the peasants will hinder his desire to make $75,000,000 in 2019.
Iger’s vocabulary likely does not include “sharing” , unless it applies to his serfs, sharing with him. CEOs at any level of income don’t get there by being nice to the workers.
Of course Iger didn’t respond to her communication. That would show some grace and dignity that doesn’t exist in the halls of corporate power today. We can solve all of this with a marginal tax rate of 70%-90% on Iger’s pay and some kind of wealth (reparations) tax on the Disney heiress and Iger. Of course Disney should pay people better but also maybe we need a different wage rate for teenagers or trainees who are not supporting a family. We have created a mess in the U.S. and it will take a lot of creative, honest leadership to correct it. Unfortunately we don’t have much creative, honest leadership except when it comes to feeding the rich more and more.
Oh, I’m sure he is very generous and donates to all kinds of charities. They like charity. It is better than them getting taxed at the right rate.
A pig in a suit.
The only point I would disagree with is you’re take on the insurance industry, and them picking up the tab for destroyed infrastructure. IMO they will not, it’s happened in my area twice after major hurricanes. The industry communicates with each other after major disasters and decides what their going to do, incur the losses, or cut and run. If the losses are great enough, they chose the latter. Sometimes you can force their hand in court, but not always. The industry can not be depended on in time of need, no matter how much you’ve paid in premiums.