Public corporation charity is a crock.
Public corporations, those with symbols on a stock market exchange, have a single master – share holder equity. Absolutely everything they (the executives in concert with the board of directors) do is with the intent to increase (or maintain) share holder equity.
Including pretending to “care” for the environment, community or their employees.
Last week the public corporation for which I work fired 10% of the corporate headquarters staff (40 people) and 10% of the shop floor staff (1000 people).
I slipped by (||) that far from getting the ax. Unfortunately, the fellow with whom I work, everyday—side by side—on software projects got the knife. His Business Analysis partner was cut too. And so, with a single whack of their brain dead sword, corporate gutted the “tribal knowledge” of one of the more important software applications in use by two dozen repair shops around the country. “The rest of you developers will have to take on the load.” — yeah right.
The CEO, up to now, had been one of those who touted the “we’re all one big family” vibe at every quarterly all-hands meeting. — yeah right.
And so it was with incredulity that I received an email which explored how important it was for this corporation to account for all the volunteer time we had invested in the last 12 months, including how important we thought the environment, community and education was and how this corporation should pursue supporting such things.
What a crock.
No matter what a public corporation says to the world, despite all of its press releases, all of its so called public principles of business conduct, there is one tenet they must obey above all others — increase share holder equity.
Everything else is a lie.