Tuesday, December 13, 2011
What would you do if this were your story?
Oh, I know ... your chief executive did pony-up and take a pay cut from $360,000 to $325,000. Poor guy, I wonder how he's surviving that?
How would you react if you found out that your company's chief executive was blaming the lack of capital on you and your labor representatives saying "The labor strife puts a crimp in our ability to raise money. People are waiting to see what happens." When, in all actuality, people are probably not giving because they see your company swirling around the toilet bowl.
How would you react if you found out that your company's chief executive was apparently more willing to bring an end to your company - a company that is beloved, and has had a deep tradition and legacy of excellence - rather than admitting that he is improperly managing the business? "The final piece is to change these contracts ... If the company does not make these radical changes to its model, it will have to close. Isn't it more terrible to have no company at all?"
Is this at all sounding familiar? No, I'm not talking about the "Big Banks". No, I'm not talking about the home building industry. No, I'm not talking about the billionaire Koch brother's Koch Indutries. And no, I'm not relaying the all-too-familiar story of many 99%-ers.
Sadly, this is what is going on at New York City Opera. And, it doesn't stop there - check out this extremely sad, but very true article from Crain's New York.