Henry Blodget (of all people) now thinks its time for unions
I've Always Hated The Idea Of Labor Unions, But It May Be Time To Reconsider
Dec. 2, 2012
But we've now developed a bigger problem in this country.
Namely, we've developed inequality so extreme that it is worse than any time since the late 1920s.
Contributing to this inequality is a new religion of shareholder value that has come to be defined only by "today's stock price" and not by many other less-visible attributes that build long-term economic value.
Like many religions, the "shareholder value" religion started well: In the 1980s, American companies were bloated and lethargic, and senior management pay was so detached from performance that shareholders were an afterthought.
But now the pendulum has swung too far the other way. Now, it's all about stock performance--to the point where even good companies are now quietly shafting other constituencies that should benefit from their existence.