400,000 French protesting for guaranteed jobs – Don’t they understand that it’s about helping them get a job in the first place?! What will it matter if all their companies face bankruptcy like General Motors (NYSE:GM) mostly because they’re just trying to keep up with Union Demands.
But none of this even comes close to what French companies have to endure. Who would want to hire anyone if they cannot fire them – even with sound cause. I mean, hey, wouldn’t it be great if we could all get well paid to do crappy work without getting fired?! But as an employer – maybe I’ll just try and do the darn job myself and save myself the headache – and a load of money.
The purpose of these laws are to make it EASIER for the French to get jobs. I doubt most of these protesters understand much of what’s really going on past the fact that it’s a chance to skip school for a few days and drink beers with their friends. To really top it off, you see deans of French universities on the air requesting the government give in so that students can go back to class! Hey, if it’s that easy maybe the students should redirect their efforts to protesting against their schools until they guarantee everyone A’s in their classes. If they’re successful, that too may give them a shot at the better job they’re hoping for!
Note 1: The problem with unions is a double-edged sword. Companies take advantage of workers which eventually lead to union corruption and unrealistic demands on businesses that need to cut costs just to stay competitive in a global environment. Of course, if a company treated its employees fairly from the beginning, that would solve many of these issues. Toyota Motors (NYSE:TM) is an excellent model of this, and its stock performance reflects this as well (from $71 to $122/share in under a year).
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