What happened to stakeholder capitalism?

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Marketplace

News, Business

4.5 • 1.4K Ratings

🗓️ 15 September 2023

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

In the before times, some of America’s top corporations pledged to rebalance their priorities and serve all stakeholders instead of just shareholders. Today, workers still aren’t feeling the love. We’ll get into the disconnect between employees and CEOs and explain how that’s playing out in recent labor disputes. Plus, why patrons at a Milwaukee bar are feeling that Jets win extra-hard.

Here’s everything we talked about:

- “Detroit automakers and auto workers remain far from a deal as end-of-day strike deadline approaches” from AP News

- “UAW tees up select strikes if no deal by deadline” from Politico

- “Nearly 200 CEOs say shareholder value is no longer a main objective” from CNBC

- Sen. Mitt Romney announces he won’t be running for office in 2024 from X

- Gurner Group founder Tim Gurner talking to the Financial Review from X

- “CEO Tim Gurner calls for more unemployment, give employers more leverage” from The Washington Post

- Alexandria Ocasio-Cortez responds to Tim Gurner from X

- “Property developer Tim Gurner, man behind avocado toast meme, calls for up to 50 per cent rise in unemployment” from The West Australian

- Milwaukee bar’s promotion takes a turn after the Jets win from X

Join us tomorrow for Economics on Tap! The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern. We’ll have news, drinks, a game and more.

Transcript

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0:00.0	Hey, everybody. It's Kai. You know, individual donations are a most reliable source of support
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0:20.2	out a fantastic thank you gift as well. Check them out at Marketplace.org slash give
0:24.6	you smart. All the things are turned off. All the things are muted. And I am in a good
0:34.6	position to have a chat with you for our show.
0:39.2	All right. Well, Carlos, I believe that you're cute. There we go. I'm going to have the
0:45.2	same. You don't. Hello, everyone. I'm Kimberly Adams. Welcome back to make me smart where
0:51.8	we make today makes sense. I'm Kai. Rizadal 14 September thursday is what my calendar
0:57.7	says. Yes, indeed. And by now, you'll probably know if you're regular listener and if you're
1:03.5	not, then welcome happy to have you. Thursdays is all about listening back to some of the big
1:08.6	stories of the week or of today, depending on when the audio came out. So we've got some
1:13.1	audio clips lined up. We're going to get into what was said in those clips and what was
1:17.2	left out. So here's the first one. You know, the talking heads, the pundits, the companies
1:22.3	want to say that, you know, if we strike, it can wreck the economy. It's not that we're
1:26.0	going to wreck the economy. We're going to, we're going to wreck their economy. The economy
1:30.0	that only works for the billionaire class. It doesn't work for the working class. How
1:35.8	can you take this one, Kai? All right. Boy, there was a lot in there. So that was Sean
1:40.0	Fein. He's the reasonably new-ish president of the United auto workers on CNN the other
1:45.3	day. You've all heard about the news that there could be a strike effective this evening,
1:50.6	depending on when you listen to this, that would be Thursday. It looks now like it's not
	...

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