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What matters now Or: it’s Greek to me

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What matters now Or: it’s Greek to me

What matters now  Or: it’s Greek to me
Don’t expect a discourse this time about elections, wars, the land of smile, lead-free or costs of oil; rather, it’ll be on companies, their success or failure, and the management involved. And it will concern members of the European common currency club and the European Commission which apparently is in a state of at least partial deep sleep.

Over the wire we get almost daily news concerning huge companies in exceptional trouble, where thousand of people could lose their jobs. And then, after a careful look, an abyss of incompetence becomes apparent. How come? Troubles of such quality aren’t delivered by overnight express, but always have a (more or less) long history. With a public business there are executives, a CEO and a company board controlling the acting persons. So what happens if all those individuals and the controlling body aren’t able to do the right things at the right time? Just let them work until the rotten results become visible for everybody?
Or see what’s happening in Brussels in the European Commission, especially at Eurostat, the scandalous statistical office known for some strange occurrences in the course of the past few years. These honorable men and woman didn’t realize for years that the Greek administration had them screwed every time they reported their national debt to them. We can also call this nice deal “creative” accounting. The so-called Maastricht Criterion has specified the annual deficit at a maximum of 3% of the gross national product. Eager to be not only part of the EU, but also to participate in the euro-zone benefits, the Greek administration did corrige la fortune (just to optimize their luck). By the way, the drachma was Europe’s oldest currency, but due to modern Greek policy in its value not comparable to the times of Alexander the Great. As we can hear now from our political leaders, this gigantic hoax will probably go on without having to face any consequences. Well, that’s the lazy man’s way to European enlightenment. Made in the EC.
In such cases it seems apparently that some people put top priority on filling their pockets or in nurturing their economical or political power or on playing the national anthem foolishly – but have overlooked bringing in honesty and responsibility to places where they should be doing a good job. Yes, it’s always easier to spend other people’s money (be it in EU or in a business) or downsize other people’s jobs. But it’s difficult to put some awareness into our doing and acting accordingly. At worst, if too much incompetence turns up in the industry, such people get a pleasingly canceled contract and are paid off. But these individuals probably have stock options, take part in bonus programs and enjoy many more rewards or amenities. All of these, of course, in addition to “inadequate” earnings. That’s it. The other thousands, having lost their jobs, well, they have to live on the dark side financially, and socially.
It seems only logical or at least consequent when people who pay for this, be it with their daily engagement as company staff or as small shareholders, know how much these executives‘ work cost them. In the USA it seems relatively normal to know how many bucks the boss makes. In Europe, on the contrary, this is a change of the paradigm in the industry and society. For a long time, executives have believed that their employees would be eaten up with envy if they were to know the real figures. Now, after a long time of mystification on earnings, a movement to more openness is underway. Such “glasnost” in money matters could be helpful estimating whether a top shot is worth the expense – or not.
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Titelbild EPP EUROPE Electronics Production and Test 11
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11.2023
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