Sunday, April 5, 2015

"It's not the money . . ."

"Corporate America strikes a liberal note on wages," reports Politico:

With McDonald’s following Wal-Mart, Target, TJ Maxx and Marshall’s in raising wage minimums, big companies are buckling under pressure to address the problem of wage stagnation and workplace issues. And they’re embracing the favorite language — if not the full-fledged policies — of the political left in doing so.

“I really want to assert McDonald’s as a modern and progressive burger company,” McDonald’s CEO Steve Easterbrook told “CBS This Morning” on Thursday. “And to do that, you’ve really got to make meaningful changes for the business, whether through the food [or] through the employment proposition.” . . .

Other CEOs have been quick to name-drop stars of the left in announcing new workplace measures. In January, Aetna CEO Mark Bertolini told all of his executives to read Thomas Piketty, the famed progressive economist, and then went and established a $16 an hour wage floor for all of the company’s employees. “It’s not just about paying people, it’s about the whole social compact,” Bertolini told The Wall Street Journal.
A rule of thumb I learned from the fascinating book Never Trust a Calm Dog: When people say, "It's not about the money, it's about the principle" . . . it's about the money.