Do you remember that the real test of integrity is not when everything is going along perfectly, but when a perturbation occurs? That’s when you can determine if someone makes their words conform to reality (that’s honesty) or makes reality conform to their words (that’s integrity).

Well, the test began in March. Now, it’s May (at least when this will be published). And, as I suspected, the Business Roundtable (executives from 181 of the largest companies)- and its member companies- talk a great game, but when push comes to shove, that’s all it is. Just talk.

Let’s first review to what statement I refer.

At the time, I called it window dressing, malarkey. And, I said unless and until executive pay was reformed, nothing would ever change.

Many of you argued with me. Want some salt or hot sauce to make your hats taste better?

Because despite their proclamations, these Business Roundtable executives are furloughing employees. While providing dividends to shareholders. Those that haven’t furloughed their staff are forcing them to work under unsafe conditions- a lack of PPE (personal protection equipment), safe distancing, etc.

Moreover, before the pandemic hit, these firms were buying back their own shares, not maintaining cash cushions to protect against bad days (like our quarantine), to purchase new equipment, or to improve productivity.

Arne Sorenson- the first non-Marriott to head up Marriott International (the world’s largest chain of hotels)- used the $ 1.2 billion in profits the firm accrued to raise his salary and pay dividends to stockholders. Oh- and he’s furloughed his employees during the pandemic. Leaving them penniless and bereft of health care.  (It might be important to note that, as of today, 51% of those working in the hospitality industry [and among our lowest paid employees in the USA] have been furloughed!)

Proof that Marriott’s employees have been and still are on their own. Despite the lofty words in the Marriott and Business Roundtable public pronouncements.

But, it’s not just Marriott that lacks integrity.

Oil producers are laying off staff by the truckload. In West Texas alone, some 40,000 folks are being jettisoned.

Condé Nast, the hoi polloi of magazine publishers, just decided that up to 6000 of its employees just aren’t worth it. These staff can expect layoffs, furloughs, and/or cuts to their pay. (Actually only those earning $ 100,000 or more- about 50% of the staff- will find their pay slashed by at least 10% (and as much as 20%) from May to October.  The rest are more likely to join the 33 million on our unemployment rolls.)

Some promise, huh?

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