RE: Previous Blog, Stealing Customers for Profit in the Recession

My last blog post has stirred a lot of interest and sparked many comments. Some comments were posted on the blog, some used my contact form, and some responded through Linkedin. I’m not breaking any real news to the business world. This recession is a B-I-T-C-H  (sorry for the use of the b word, I just couldn’t express it any other way, forgive me).  Once we get through it, and I’m sure we will get through it, we will be standing on a figurative bloody battleground mourning our fallen comrades. We will never be as naive as we were and assume that the big money people know what they are doing. Just because they’re paid seven figure incomes doesn’t mean they have any sense. To believe otherwise is naive with a capital N.

We have a chance now to reform our system if we act fast and aren’t too weak from the beating we’ve taken. Here’s my thought. If a company is a publicly held corporation, doesn’t it have a public responsibility? Those CEO’s who bag multimillion dollar compensations despite the fact that their companies are losing money should be subject to Old West justice, in my opinion. One case in point is Prudential Financial’s CEO John Strangfeld. For the year 2008 Mr. Strangfeld snagged between $14 million and $16 million dollars in salary and other compensations. Now what did John Strangfeld accomplish to be worthy of such a grand bounty? Under his $14 million dollar leadership, Prudential Financial Inc. posted a net loss of $1.1 billion dollars. That’s right. Okay, his personal management may not have been totally to blame for the loss, but where does the buck stop? Where does it stop?

There is a ruling class in America today. If you aren’t in it. you count for nothing, or less than nothing in their minds. John Strangfeld when questioned about his excessive compensation said that the people expect him to live a lavish lifestyle. The King has spoken and of course We The People want him to live a lavish lifestyle even if it bankrupts us all.

Can you believe the gall? This ruling class is so out of touch with reality that they truly believe what they are spouting. My point goes back to the meaning of a public corporation. Now I know that the distinction by law is that a closely held corporation has a limited number of private stockholders and a public corporation sells its stock on the open market, so some would brush off my argument without thought. The thing we overlook is that great power to do harm lies in the hands of this “uncrowned royalty.” The United States of America was brought to its knees because these power brokers decided that No Income Verification mortgage loans, and 1% interest only loans, were a good idea. Really? Any elementary grade student could tell them that loaning money to people who didn’t have the means to repay it, was a very bad idea.

Then when they packaged their terrible decisions into stock and sold them to unwary consumers and foreign companies they walked away stuffing money in their shoes, pockets, under their hats and smiling the whole time. Who pays? We do. The common people losing jobs and businesses. That’s who pays. Heck if one of them got charged with a crime the justice system would take some money away from them. Let’s see, you get $14 million and lose half, you still walk away with more than I’ll make in my lifetime. How is that fair?

Now when you think about it, really think about it, these multi-multi-millionaires and billionaires did more damage to our country than Al Quida could ever do. They perpetrated economic terrorism on us all and when the government suggests that their compensation packages ought to be reviewed they scream to high heaven. Again I say they have a public responsibility that goes beyond the front gates of their lavish castles.

Why am I so angry? I’m angry because the printing business has fallen on very hard times. Printers are closing doors, and may never reopen again. I’m sure the same is happening in other industries, but the one I am most familiar with is printing. It breaks my heart to see companies who have been around for decades and their owners who put their whole lives into their businesses reduced to shambles. Now we see printers who used to be friendly competitors, employing guerrilla tactics just to keep their businesses alive.

Write to your congressmen, write to the President, tell them that those who head public corporations need to be answerable to the public, and if they wreak havoc on the economy because of their self-serving decisions we want them individually and severally to be held responsible. We want to take away all of their toys and give them stock-boy jobs at Wall Mart. If they had to make ends meet like the rest of us I wonder how long it would take to effect real change?

A good friend bought my lunch (isn’t that the definition of a good friend one who buys your lunch?) and over pasta he mentioned the book TRIBES  by Seth Godin. It’s a small book with a big message. It addresses the changing social and business constructs and envisions a future already here and now, where power and influence are shifting from traditional hierarchies to groups united by common beliefs. The development of the Internet has facilitated this shift in a big way. Leadership is more defined by passion and faith than by wallet. For example in the last US presidential election Barak Obama raised almost 25% more in campaign contributions than Hillary Clinton, and John McCain combined and it flooded in from the Internet. Who would have thought that a relatively new face in Washington could pull together more financing than those two warhorses, an ex-president’s wife and a revered war hero? Why? Because of passion. Because of belief. The people wanted change and were willing to follow a leader who appeared able to create the change.

I’ve written a lot in my blogs about changes. The changes I’ve addressed mostly concern the printing industry, but change is happening on every front, in every field of endeavor. I’ve been sitting on the sidelines of the publishing business, observing, and occasionally commenting (link). Now, it appears, that I’ve been given the opportunity to lead a tribe of self-publishing authors. That was what the lunch was all about. Self-publishing, in my opinion, is on the verge of eclipsing traditional publishing. And with my background in writing, marketing, and printing I am the logical choice to contribute to this movement. I didn’t choose it, but by my preparation, it chose me. That’s another point that Seth makes is that Tribe leaders generally don’t go looking for leadership, instead they see a need and are compelled to fill it. It’s the leader’s faith and passion that attracts their followers.

Mr. Godin discusses the old factory model. Factory workers were hired by owners, who paid them to do a job. The jobs were generally routine and required bosses to make sure everyone stayed in line and did things exactly the way the boss wanted them done. Much like slaves on a galley ship. In this new world run by tribes, we join, or create tribes, because we are drawn to the ideal. We want to make a difference. We think that the purpose of the tribe is valuable, important, and worth giving of our time and effort. The tribe causes the change to happen. If this occurred on the factory floor it would be chaiotic. The smooth production of products would be interrupted. Participating workers would be disaplined and might be in danger of forfeiting their jobs.

I have another  friend who is fond of quoting Ghandhi, “Be the change you want to see [in the world].” The most monumental changes always begin with one person, one person with a vision.

Again the concept isn’t really new. The founding fathers of the United States of America were drawn together because of a mutual belief in freedom and self rule. The leaders stepped forward and the people followed. What’s new is the Internet. Tribes can be formed at lightening speed. Twitter, for example, provides a platform for a succinct idea of 140 words or less, to potentially reach millions of readers within seconds. Can you imagine what Paul Revere would have thought? Riding through the countryside, by horseback, required a commitment of hours and days. Too bad he didn’t have a laptop computer or even a cell phone.

What? You say that you don’t like this new world? You think that 140 character messages lack depth? Too bad for you. The Tribes rule and will only get stronger. Get on board or be left behind.

I’m not just talking through my hat, I was on a conference call with other Toastmaster District Officers last night . The subject of leadership was broached and I was surprised to learn that even in Toastmasters, good leaders are hard to find. I was surprised. Why? Because the purpose of Toastmasters is to create masterful public speakers and train dynamic leaders. He who would be a great leader and doesn’t possess persuasive speaking skills is doomed to fail, and vice versa, one with awesome  speaking skills and little leadership ability finds himself talking to an empty house. It is both or nothing.

Willingness, the Missing Element

So why would Toastmasters be concerned with finding good leaders when that is what they are all about? The missing element is willingness.

Where are the Good Candidates?

Every four years I hear the same thing over and over again, “Why can’t we have better choices? Can’t the Republicans and Democrats come up with good candidates? I’d vote if there was a real difference.”

Gaffes Enough to Fill a Book

I look at the hell that political candidates have to traverse to get elected and I wonder what makes them do it. Who in their right minds would want to be President of the United States? Think about it. If every word you utter is recorded, examined and held up to scrutiny, how well would you do? I don’t know about you, but if someone was recording everything I said twenty-four seven, it wouldn’t take long to fill a book with Ruesch gaffes, maybe two books.

Respect the Office

I could be wrong, but in the past weren’t our leaders given at least a little respect? I know for a fact that my father did not vote for John Kennedy, and yet when the President came to town he put all of us in the car and took us to wave at him as he passed by in his black convertible limo.  What was it my father used to say, oh yeah, “You may not like the man, and you may not like his politics, but you have to respect the office.”

Right Leader at the Right Time?

Why do I even bring this up? I found myself in front of the television set last week listening to the press conference our new President, Barack Obama, held to encourage congress to get behind his $800 billion dollar economic recovery plan. I was rooting for him. I’m praying that with his leadership the country will band together and solve this mess we are in. I truly hope that he is the right leader, at the right time, to make it happen. My logical-self says that the problems are too big, too ingrained, and the system too corrupted, but my emotional-self says let’s look on the bright side, be positive, and keep digging our way out, day-by-day.

He is Willing

Say what you will about the President, he was at least willing to do the job, and in this day and age,  that is really saying something.