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WotC Founder Peter Adkison On Hasbro's Layoffs
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<blockquote data-quote="Willie the Duck" data-source="post: 9219545" data-attributes="member: 6799660"><p>Fundamentally, much more than CEO pay, this is the issue, IMO -- that publicly traded corporations* are beholden to this separate** set of tasks surrounding a popularity contest*** with spare-funds-having people/groups of people. The stock market served a purpose (and still does... for the investors), but at this point seems genuinely detrimental to the corporations (and the people working for them) bound within the framework. It certainly seems that way whenever my company has layoffs which bleed the company of valuable employees, morale, trust, and institutional knowledge all to serve a short-term revenue goal that the shareholders demand. It's a no-one-person-decided-on-this situation or economy has slowly sauntered into, which leaves it as a no-raindrop-blames-itself-for-the-flood problem where we all vote with our dollars to maintain the frustrating status quo. There are definitely ways to address/mitigate/reverse**** this situation, but few if anyone seems to be highly motivated to fix it.</p><p><span style="color: rgb(209, 213, 216)">*and most corporations that wish to compete in the largest ponds end up being publicly traded (or run by people who could just as easily invest their funds into publicly traded companies in search of profit, so the corporations end up acting in a similar fashion).</span></p><p><span style="color: rgb(209, 213, 216)"><span style="color: rgb(209, 213, 216)">**that just barely benefits the corporation itself</span></span></p><p><span style="color: rgb(209, 213, 216)"><span style="color: rgb(209, 213, 216)">*</span>**that is only very loosely related to how well the business succeeds in their market, certainly long-term</span></p><p><span style="color: rgb(209, 213, 216)">****there are laws and regulations and individual decisions by people, businesses, nations and states which can work against the situation. I don't want to dismiss this notion. Without diverting into politics, that's about as much as I can say. </span></p><p></p><p><span style="color: rgb(0, 0, 0)">Re: Hasbro/Cocks -- Well, they certainly aren't earning my respect by continuing to let people go during the holidays. It also is sub-optimal that they made a number of bad choices regarding investing in physical toys when it should have been predictable that this was not the year to do so. And <span style="color: rgb(0, 0, 0)">I too would love it if the belt-tightening meant salary cuts amongst management first. However, at the end of the day, I will say </span>that --having ended up in this financial situation-- they didn't really have an option not cut the budget to appease the shareholders. </span></p></blockquote><p></p>
[QUOTE="Willie the Duck, post: 9219545, member: 6799660"] Fundamentally, much more than CEO pay, this is the issue, IMO -- that publicly traded corporations* are beholden to this separate** set of tasks surrounding a popularity contest*** with spare-funds-having people/groups of people. The stock market served a purpose (and still does... for the investors), but at this point seems genuinely detrimental to the corporations (and the people working for them) bound within the framework. It certainly seems that way whenever my company has layoffs which bleed the company of valuable employees, morale, trust, and institutional knowledge all to serve a short-term revenue goal that the shareholders demand. It's a no-one-person-decided-on-this situation or economy has slowly sauntered into, which leaves it as a no-raindrop-blames-itself-for-the-flood problem where we all vote with our dollars to maintain the frustrating status quo. There are definitely ways to address/mitigate/reverse**** this situation, but few if anyone seems to be highly motivated to fix it. [COLOR=rgb(209, 213, 216)]*and most corporations that wish to compete in the largest ponds end up being publicly traded (or run by people who could just as easily invest their funds into publicly traded companies in search of profit, so the corporations end up acting in a similar fashion). [COLOR=rgb(209, 213, 216)]**that just barely benefits the corporation itself *[/COLOR]**that is only very loosely related to how well the business succeeds in their market, certainly long-term ****there are laws and regulations and individual decisions by people, businesses, nations and states which can work against the situation. I don't want to dismiss this notion. Without diverting into politics, that's about as much as I can say. [/COLOR] [COLOR=rgb(0, 0, 0)]Re: Hasbro/Cocks -- Well, they certainly aren't earning my respect by continuing to let people go during the holidays. It also is sub-optimal that they made a number of bad choices regarding investing in physical toys when it should have been predictable that this was not the year to do so. And [COLOR=rgb(0, 0, 0)]I too would love it if the belt-tightening meant salary cuts amongst management first. However, at the end of the day, I will say [/COLOR]that --having ended up in this financial situation-- they didn't really have an option not cut the budget to appease the shareholders. [/COLOR] [/QUOTE]
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