4 ms·
In my experience, this is yet more evidence of the quite unethical culture that has come to dominate executives in the last 4-5 decades across many industries.
by beezlebroxxxxxx 3y ago
In my experience, this is yet more evidence of the quite unethical culture that has come to dominate executives in the last 4-5 decades across many industries. So many of them fail upwards by mindlessly focusing on shareholder value and cost-cutting for short term gains and the long term detriment of products and consumers under their watch. The way that safety and the health of customers and the general public is consistently ignored or thrown under the bus by executives in the name of cost-cutting and shareholder value, often against the explicit recommendations of employees, has become so common that I can't help but think there is something seriously wrong in the "education" (MBAs are more like finishing schools for corporate climbers) and hiring of these executives. We've incentivized ghouls to take over the reins who spend their days a bubbled class that have no need to, and can afford through absurd wealth to not, interact with or see the consequences of their asinine and dangerous decisions.
- rapind 3y agoIt’s a symptom of decades of gutting regulations. Next time you hear corp talk about how regulations make x unaffordable, look for the real incentives and benefactors of gutting that regulation.
- wredue 3y agoIncidentally, never believe tales of “we can self regulate!” If they had any intention of self regulating, they wouldn’t be spending billions to get rid of regulation.
- beezlebroxxxxxx 3y agoI think it's even broader than that. An entire corporate philosophy has arisen that insists that mindlessly searching for profits and shareholder value over everything else will actually be better for everyone, employees and public included. This insulates them from criticism by insinuating that maximizing profits and shareholder value is a moral imperative - if you're against them then you're against the mutual uplifting of everyone through corporate benevolence. It turns out, however, that it's really just better for the execs, who conveniently just so happen to also have their compensation tied to the share price.
- black6 3y agoIt's not just the safety and health of customers and the public that the modern executives don't seem to care about. I work in the CPI and process/employee safety has started to take a back seat to DEI and environmental concerns (to be sure, fair hiring practices and environmental stewardship are great goals to have, but not to the detriment of a safe workplace.) Stock buybacks take precedence over spending on safety improvements, and reduction in working capital (finished product) to appease the bean counters results in missed sales when the inevitable process upset occurs and there is no surge capacity.
- engcoach 3y ago> We've incentivized ghouls to take over the reins who spend their days a bubbled class that have no need to, and can afford through absurd wealth to not, interact with or see the consequences of their asinine and dangerous decisions Nice prose, and an astute point
- ingypsyland 3y ago[flagged]