One of the great lines from Scarface and most quoted of all movie lines is, “…first you get the money, then you get the power, then you get the woman.” So says Al Pacino’s immortalisation of Tony Montana and while the line is delivered brilliantly it is a business plan that works best for drug lords and wannabe wise guys in the later part of the 20th Century.
For a translation into NYSE and FEC financial reporting parlance you get this…
“We have many challenges and opportunities ahead, and Lachlan’s strategic thinking and vast knowledge of our businesses will enable me, as executive chairman, and the company as a whole to deliver the best outcomes on behalf of our stockholders, employees and customers.”
This quote by Rupert Murdoch from The Guardian defines exactly what’s wrong with business priorities; stockholders come before employees and customers. Aside from the fact that Rupert and Lachlan are number 1 and 2 shareholders respectively and are essentially putting themselves first, they are putting their staff and customers last, after investors.
It’s completely arse about for the 21st Century. Messrs Murdoch, if you really want to keep your shareholders happy do this;
- Keep your staff happy – you know what to do here so just do it. They produce a better product and…
- This will make your customers happy and give you more money – proven time and time again. So….
- This will make your shareholders (and yourselves)
rich/erhappy/ier.
Fast forward to Bryan Cranston’s critically acclaimed portrayal of high school chemistry teacher turned 21st century drug lord Walter White in Breaking Bad and you get this…
http://youtu.be/k0cN4WENUoU
Advisory invoice to come. You’re welcome.