Occupy Wall Street: A "Wall Streeters" take on the occupancy...

Charles Krauthammer wrote a piece today (see below) about the occupy Wall Street movement that I think totally misses the point. Some are asking incredulously how can the occupy Wall Streeters rail against corporate greed and at the same time weep for the passing of Steve Jobs, a billionaire 8 times over? For me the answer is really quite simple: Firms of Endearment. People protesting income inequality or more accurately I might say, opportunity inequality, (not corporate greed) don't begrudge Jobs his billions, because they believe he ran an organization that cared as much about them as it does about making a profit. And I'd say that if more corporations acted or even made people believe they were acting this way, many (not all mind you but many) of the "occupiers" wouldn't be feeling as they do now. The pundits talk about "class warfare", attacking capitalism or making Wall Street a "scapegoat". My problem with this is the seeming lack of real critical thinking about the message of Occupy Wall Street. Do you think these people hate Capitalism? Of course not, in fact they are begging for a seat at the table of capitalism. They all would rather not be a part of the 99%. They all want to better their financial station in life. They want capitalism to thrive and flourish, only in a way that truly lifts all boats and not just the yachts of wall street. That's not to say that wall streeters don't deserve their yachts, they do and they should be trying to make enough money to buy more. But in the process they should also be looking for ways to give others the opportunity to buy a nice Boston Whaler or two. Not by sharing the money they've made with those sitting in a park, but by operating their businesses in a way that looks to create wealth building opportunities for as many citizens as they can...not just shareholders. (Creating shared value not sharing created value: per Porter HBR January 2011...look it up!)

The people in the park about 2 blocks from my apartment here on Wall Street aren't occupying Green Mountain Coffee Roasters; they aren't occupying Whole Foods; they aren't occupying Lulu Lemon, Under Armour or Southwest Airlines; and they aren't occupying Apple. They aren't occupying Warby Parker or Patagonia or Method Cleaning Products, Toms shoes, or Zappos. Be it perception or reality, people believe that companies like those I name above care, emotionally, really care, as much about their customers, employees, communities and suppliers as they do about making money for their shareholders. By running their businesses with this "Stakeholder" mindset first and foremost, they create a more conscious form of capitalism that creates greater opportunities for wealth creation for the greatest number of people, while amazingly creating more wealth for themselves. In fact it is my belief that organizations that truly understand and embrace the message I posit here, those that understand that income inequality is a bad thing for us all and then set out to actually do something about it, will not only reap the benefits of good press and good will. They will reap the wealth creating benefits of highly engaged employees and loyal customers willing to spend more and more on their products. Understanding this and taping into it will be the competitive advantage of the next 50 years and beyond.


An excerpt from Krauthammer's piece:

Exhibit C. To the villainy-of-the-rich theme emanating from Washington, a child is born: Occupy Wall Street. Starbucks-sipping,  Levi’s-clad, iPhone-clutching protesters denounce corporate America even as they weep for Steve Jobs, corporate titan, billionaire eight times over.

These indignant indolents saddled with their $50,000 student loans and English degrees have decided that their lack of gainful employment is rooted in the malice of the millionaires on whose homes they are now marching — to the applause of Democrats suffering acute Tea Party envy and now salivating at the energy these big-government anarchists will presumably give their cause.