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Post 0

Wednesday, March 16, 2005 - 1:44pmSanction this postReply
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Good stuff, finally a CEO with balls!

Now I do think it is sometimes good for a company to give a little to the communities their in, only because of future payoffs however. The community is their future workforce and the people they do business with, its good to have local connections and any smart businessman will tell you that. He's right of course that there is no need and 'giving back' is a stupid term but I'm just talking good business sense.

Post 1

Wednesday, March 16, 2005 - 1:46pmSanction this postReply
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Well, only one answer can be giving: The CEO of Nestle is right! Companies don't have an OBLIGATION to provide anything for the community, if they can't make a dime of it.

On the other hand, there had been situations, where companies cared for their employees in ways that are similar to what those "community managers" in Boston want. However, the results were even more demands by the workers, which were unprofitable and not in the best interest of the company owners.
So, companies know what it means to be invovled in so-called "give backs" to communities and I understand that they don't want to get invovled any more.
If you lend people a hand, they will soon start to bite off the whole arm..

P.S.:

If I remember it right, Chris, didn't you write about such a community. I don't know whether it is true, I will counter check it, but I thought it was something like it.. (Pullman Strike, wasn't it?)... *runstocheck*

I think I got something: http://www.libertarian.co.uk/lapubs/histn/histn046.htm

(Edited by Max on 3/16, 1:51pm)


Post 2

Wednesday, March 16, 2005 - 2:28pmSanction this postReply
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Thanks for posting this, Peter.
What the hell have we taken away from society by being a successful company that employs people?
What a great line.  This is almost good enough to be a candidate for the "What are the Greatest Words ever spoken?" thread.

Thanks,
Glenn


Post 3

Wednesday, March 16, 2005 - 3:29pmSanction this postReply
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Financial giant BB&T put it in concise words on its philosophy page at

http://www.bbandt.com/Philosophy/vision.html

when it said:
Our economic results are significantly impacted by the success of our Communities. The community’s “quality of life” impacts its ability to attract industry for growth.
That captures the essence of rationally egoistic community support in a nutshell.


Post 4

Wednesday, March 16, 2005 - 5:01pmSanction this postReply
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Peter, THANK YOU. This one goes up on my blog (link supplied on request).



Post 5

Wednesday, March 16, 2005 - 5:32pmSanction this postReply
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Ha!!!!  It's about time a CEO said that out loud!

I was just thinking about this the other day, and wondered where the "back" part of "give back" came from.  Companies already give back millions in tax dollars and jobs.  There is nothing taken away -- only added.  In a phrase:

``What the hell have we taken away from society by being a successful company that employs people?'' he said.

This may become my all-time favorite quote.


Post 6

Wednesday, March 16, 2005 - 11:06pmSanction this postReply
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That man is wonderful!

Barbara

Post 7

Thursday, March 17, 2005 - 12:02amSanction this postReply
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But as managers, we need to be very careful, because it is not our money we're handing out, but the money of shareholders.
That was an excellent point he made.
 


Post 8

Thursday, March 17, 2005 - 4:33amSanction this postReply
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Jennifer Iannolo wrote: "I was just thinking about this the other day, and wondered where the "back" part of "give back" came from." 

A few weeks ago, I had a chance in a meeting to raise the question of where the "community" part of "give back to the community" comes from. These back-giving communitarians always seem to overlook the police department, for instance. 

Then there is that whole reification thing.  What, after all, is a "community"? 

Then, there is the question of whether someone is "inside" or "outside" a community.  I mean, these companies, they do not exist in some transdimensional continuum, do they?  They must be in and of the "community" -- however that word might be defined. 


Post 9

Thursday, March 17, 2005 - 11:14amSanction this postReply
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Apparently if you are successful you no longer belong to "the community".

Post 10

Thursday, March 17, 2005 - 12:56pmSanction this postReply
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Wonderful to see, and if only 5 out of 10 CEOs would express similar sentiments, all this corporate social responsibility bullshit would shrivel back up into the environmental anuses where it belonged.

Pity then that he was also quoted in this release as saying:

But Brabeck-Letmathe said a company's obligation to the community is simply to create jobs and make products
Sorry, wrong answer Herr/Monsieur/Signor Brabeck-Letmathe.

A company's obligation is to its owner, and to earnestly setting out to achieve the goals of the owner. Nothing more and nothing less.

It is not to create jobs. It is not to make products. It is to live the passion of the people who own the enterprise, whatever rattles their snake, and nobody elses.

Y punto.


Post 11

Thursday, March 17, 2005 - 7:41pmSanction this postReply
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"[It is] not democratic to make corporations socially responsible" - Milton Friedman's words from an interview for the grotesque movie "The Corporation."

Ed



Post 12

Thursday, March 17, 2005 - 9:59pmSanction this postReply
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Ed, dare I ask what the rest of the movie entailed?  When was this created?

Jennifer


Post 13

Friday, March 18, 2005 - 12:09amSanction this postReply
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Jennifer, I actually took notes at this movie (I sat in the back - people didn't seem to notice). And, while this is somewhat redundant (reprinted from the Economics thread), I will share my 48 points of interest from the movie, which were written somewhat haphazardly - in a dark theater ...

1) Michael Moore [speaking of material prosperity]: "There's no such thing as enough!"

2) Noam Chomsky [speaking of "incorporation"]: " ... originally chartered by government ... short term profit of stock holders ... CEO's responsibility to be totally inhuman ..."

3) 1712 - steam pump - first corporation

4) "Lack of public control of corporations ... corporations cause enormous harms ..."

5) "A corporation ... is a gift by the people to serve the public good ..."

6) corporation = a "legal" person

7) Nike paying 3rd world 10 cents an hour

8) 70 cents an hour in Dominican Republic

9) Monsanto & rBGH in milk (Ed: this "conspiracy of gov't & business - against the public" has relevant truth to it)

10) Monsanto created Agent Orange (Ed: irrelevant)

11) Roche anti-trust suit = $500 Million in fines

12) Exxon's = $125 Million

13) CEO of Interface Carpet (environmentalist)

14) (Shell or Goodyear co.?) has laid-off 20,000 folks since 1990

15) Corporate spy: "I don't feel guilt"

16) Everybody doubled their money on gold stock on 11 Sept. 2001

17) 1991 bombing of Iraq --> oil prices went from $13 a barrel to $40 a barrel

18) brokers talked about Saddam helping oil price hikes by "burning up" the oil

19) It costs $10,000 to sing Happy Birthday in a movie (song rights)

20) Initiative Media - biggest advertiser in world - $12 Billion in advertising time

21) The Nag Factor study - 20-40% of purchases wouldn't occur if kids didn't nag parents

22) Chomsky: " ... mindless consumers of goods they don't want ... fashionable consumptions ..."

23) perception management vs "liberty"

24) Celebration, Florida = a literal Disney town

25) " ... information is filtered by a media keen to corporate interests ... "

26) GE & Jack Abarty patenting "life" (anything sub-human)

27) Monsanto's "human testing" of rBGH was actually on rats (a mere 30 rats!) for 90 days (a mere 3 months!)

28) rBGH/rBST scandal story = dire consequences for Fox News/Ruport Murdock

29) Fox: "The news is what we say it is"

30) Euphemistic Official rBGH Report = for "cancer" insert "human health implications"

31) 83 re-writes

32) 2 whistle-blowers at Fox seek $400,000 award; Fox appeals it

33) At whistle-blower trial (Florida): " ... falsifying news isn't actually against the law ... "

34) Nazi fascism was funded by companies

35) GM --> Opel; Ford --> ?; Coke (Fanta Orange) --> Nazi Coke

36) IBM in every concentration camp (millions prisoner punch cards, purchased by Nazis from IBM)

37) World Bank-Bolivia water-Bechtel (gov't defended Bechtel)

38) 1942-IBM CEO Watson has dinner with Hitler

39) Corporate gangsters = 500,000 men take over US gov't

40) Milton Friedman (voice of reason!): " ... not democratic to make corporations socially responsible .. "

41) Elaine Bernard is a Statist

42) Revoke Union Oil (Unocal?) company charter in public interest?

43) In Arcata-no more than 9 chain restaurant allowed

44) British Salt-tax vs Ghandi (irrelevant?)

45) Ray Anderson (environmentalist CEO of Interface): "Not one industry is sustainable" ... "[leave] zero foot-print"

46) Michael Moore: "Get this world back in our hands"

47) Bolivia water company - people living on $2 a day paying 25% of their income (50 cents a day) on water

48) Cochabambovista? - returned privatized water to "the people"

Jennifer, I hope that answers your question. Also, I was really put off by this movie which, on balance, was decidedly anti-capitalist.

Ed


Post 14

Friday, March 18, 2005 - 4:30amSanction this postReply
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As a follow up, I wanted to make sure that y'all didn't miss the totally predictable followup op-ed in the Boston paper:


Nestle CEO shames biz world
By Vicki Donlan/ Perspective
Thursday, March 10, 2005

Corporate America reached a new low this week when the chief executive of Nestle S.A. asked a room full of Boston executives, ``What the hell have we taken away from society by being a successful company that employs people?''

The clear message from Nestle's Peter Brabeck-Letmathe: Companies shouldn't feel obligated to give back to the community.

With attitudes like this, how can any of us be surprised by the weakening in our value system? It appears some corporate leaders feel so high and mighty that they are totally oblivious to the fact that every member of a community has a moral responsibility to reach out to those less advantaged.

Let's move these guys out of their cushy corner offices.

When we look at our business community here in Boston, we can be proud our leaders believe that charity (giving back) begins at the chief executive's desk. Great companies are built by caring enough not only about employees, but customers and potential customers. Jobs, housing, education and health care are the concerns of every individual in a strong society.

Vicki Donlan is the publisher of Women's Business Boston.

http://business.bostonherald.com/businessNews/view.bg?articleid=72509

Ellsworth Monkton Toohey in drag!!!!!!

Post 15

Friday, March 18, 2005 - 6:24amSanction this postReply
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Stuart, Thanks for posting this, even if it did make me sick.  I never thought about it, but Toohey in a dress is probably even a sicker idea though. 

Jason


Post 16

Friday, March 18, 2005 - 8:37amSanction this postReply
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Didn't someone counter with a much needed rebuttal on that obscene op-ed piece?

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