PFFC - January 2009 - (Page 10)

FROM THE EDITOR View From Down Under his month’s editorial strays from the norm. One of PFFC’s E-Clips e-newsletter subscribers voiced an opinion to which I felt you’d enjoy responding. In the Dec. 8, 2008, E-Clips edition, just shortly after the three big automakers trekked to Washington to beg for their share of bailout money, I posed a question to subscribers under the headline, “Wall Street Versus the Automakers”: So is it fair that the three big automakers must have a strategic plan before a bailout is given to them, but Wall Street didn’t need a plan? Shouldn’t they both have a plan? Write to me, and let me know what you think. While the subject of automaking certainly is not one with which converters typically are concerned, the full-scale reach of our economic dilemma is one that has impacted all of us—even globally—regardless of industry category. What makes the response I received to my question, and which follows here, so interesting is that it comes from one of our English-speaking converter brethren located far from where the present Yolanda Simonsis economic debacle originated, i.e., Australia. His Associate Publisher/Editor signature protects his identity while revealing a skepticism that many of us no doubt share. T finagling exposed as just that, along with their ineptitude, they cry for help and blame anyone other than themselves for their mismanagement. One of the great truisms of business is that there is always undiscovered talent residing within the business at more junior levels or lower in the management structure. Here is a simple solution for all and any business that is either government- or shareholder-owned: No person in the business or organization can be paid (“earn” is something else) more than seven times the lowest-paid person in the business. So, unless you are a founder/owner of a business, your aim better be to enhance everyone’s income in your company. No more multimillion-dollar incomes for the directors of major banks, supermarket chains, mining companies, etc., unless they are the founders. The result would be that those who don’t really care about their responsibility to their whole organization, or who want to earn more, will leave and start or buy their own businesses. Those who can perform, but were held back, will rise, as no one would have a sinecure. The duds can be sent packing. Perform or leave. If this premise is wrong, look to Scandinavia and some of the best businesses there. If future corporatism is allowed to follow the past, the past will only drag on our future to the detriment of us all. This way, free choice is still available to all, but a free ride for corporate types is not… Let’s hope common sense (which isn’t all that common anymore) prevails.”—Getting Over the Blutocratic Blunderers COMING NEXT MONTH Has a business mentality dictated from the top mandated a “profit at all cost” result, turning some business managers into greed addicts? Self-destruction seems the only outcome of such a philosophy. I’d like to think our industry is immune to such antics and that we simply do not accept this approach as a way of doing business. For the sake of argument, let’s agree that con“The sole criteria for deciding upon the course of acverter operations categorically reject a business tion to be taken by government is (should be) whether philosophy of “profit at all cost.” Write to me and the aim is to benefit society as a whole or only part of it. tell me how your companies have protected and enThe people under discussion, responsible for sured the long-term viability of your businesses by creating and taking huge personal incomes, offering an alternative management solution, as the have done nothing other than feather nests reader above has provided. Tell me if your company themselves, while being ready at any has a system of checks and balances that serve to moment to show how business-minded secure an honest yet profitable (they shouldn’t be they are by cutting jobs of low-income mutually exclusive!) business operation. earners—not takers, “earners”—if the If you’d like a subscription to E-Clips, visit www. COATING & business is underperforming. They who pffc-online.com and join in our idea exchange. LAMINATING My friends call me… do the real work take the fall. Special Report & Now that the solely self-interested Directory have been caught out, their corporate Voice your opinion! Write to me at yolanda.simonsis@penton.com. 10 | JANUARY 2009 WWW.PFFC-ONLINE.COM http://www.pffc-online.com http://www.pffc-online.com http://WWW.PFFC-ONLINE.COM

Table of Contents Feed for the Digital Edition of PFFC - January 2009

PFFC - January 2009 Contents First Glance Calendar of Events From the Editor Web Lines Process Management News Clips Narrow Web & Label Reporter Narrow Web & Label What’s New Products In-Mold Labels Cover: Ink Trends Economic Outlook Brand Security Show Preview What’s New Products Services Directory Classified Marketplace Equipment Buyers & Sellers Advertisers Index Experience Speaks

PFFC - January 2009

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