Get Ready for What’s Goin’ On
June 7, 2012
Just who capitalizes on 21st century capitalism?
My brother and I talked today about his employer refusing to deal honestly with him about his retirement benefits, after a 30-year career with 2 corporations now merged into one company. We agreed that big corporations all too often take advantage of their employees.
Ken Lewis, former CEO of Bank of America where I once worked, is being sued by shareholders for misleading them about the size of Merrill Lynch losses prior to the 2008 shareholder meeting to approve B of A’s ill-fated acquisition of Merrill.
If corporate management tramples employee and shareholder interests, just who do they serve? Their customers?
Earlier this week, I called Duke Energy to add electrical service at a new address. Because I was going to have 2 accounts for a couple of weeks, my call did not fit the pattern that the automated phone service is programmed to handle. I had to go through numerous automated menus before I was able to get a real person on the line to help me. At the end of our conversation I was transferred to someone else to “verify the transaction.” Prior to “verifying the transaction,” he insisted on trying to sell me something I did not want or need. I couldn’t get a real person to help me with what I did need, and I could not get rid of the person selling me something I did not need.
I think that many big corporations are clearly not focused on serving their customers.
In the 1980s when I worked for the bank, customer service Quality Assurance was just coming into vogue, and management gave QA the required lip service. But lip service was all it was, because then as now, top corporate managers primary focus is serving themselves.
Since participating in the May 9 Make BofAPay protest in Charlotte, I receive emails from protest organizers. Today a group called Jobs With Justice sent me an email with this content:
A Powerful Spring for the 99% – What do you think?
In April, we launched the 99% Spring, a nationwide effort to train 100,000 people in organizing and direct action. Hundreds of people were trained, and within weeks they were hosting their own trainings for thousands of others.
99% Power turned that training into action. In a wave of protests confronting the worst corporate abusers, we’ve faced off with Wellpoint, Walmart, Sallie Mae, Verizon, Bank of America, and more.
And we weren’t alone. This shareholder season saw a record number of resolutions introduced by the shareholders themselves to cut CEO pay and to disclose lobbying expenditures. Shareholders of Citigroup, one of the largest banks in the U.S., successfully voted to reject a fat CEO compensation package. Meanwhile, dozens of companies have dropped ALEC, the shady organization responsible for creating model legislation such as the Stand Your Ground law that has received national attention in the Trayvon Martin shooting.
More importantly, we’ve begun to name names. We have begun to name the individuals responsible for destroying our economy and widening the gap between the 1% and the rest of us. Many executives were shocked to find their names and faces on signs lining the streets outside of their shareholder meetings.
Now, we’re continuing the fight from every angle.
This week, guest workers at CJ’s Seafood, a supplier to Walmart, went on strike. The workers, who were hired under the federal H-2B temporary worker program, even went to the police to complain of forced labor and being physically threatened for not working fast enough. When manager Michael Leblanc found out, he threatened violence against the workers and their families in Mexico. Terrified, the workers courageously went on strike and filed a U.S. Department of Labor complaint against the company. You can learn more about the CJ’s Seafood guest workers on our blog.
Yesterday, Walmart opened an investigation–acknowledging that something has gone very wrong in their supply chain. While the nature and timeline of the investigation are still unclear, their acknowledgement of potential wrongdoing is a significant step forward in our campaign to change Walmart.
Our online petition, shareholder actions, and direct worker organizing have forced Walmart to acknowledge abuses in their business practices. Now, we must take the struggle forward. It will take a massive movement along every point of the Walmart supply chain to change the largest retailer in the world, but winning will change more than just Walmart, it will transform our economy.