End of Loyalty : The Rise and Fall of Good Jobs in America
by Wartzman, Rick







Preface1(10)
PART I THE GOLDEN AGE
1 The Scramble for 58 Million Jobs
11(32)
2 Take This Job and Love It
43(30)
3 The Making of Industrial Peace
73(32)
4 Smug Nation
105(24)
5 Strains Beneath the Surface
129(32)
PART II TURBULENT TIMES
6 White Male Wanted
161(30)
7 The Unraveling
191(36)
8 Going Backward
227(30)
PART III THE ERA OF SHAREHOLDER SUPREMACY
9 Living and Dying by the Numbers
257(32)
10 The Betrayal
289(40)
11 The New Face of Capitalism
329(36)
Acknowledgments365(2)
A Note on Citations and Sourcing367(2)
Bibliography369(24)
Credits and Permissions393(2)
Index395


Uses the examples of four iconic American companies over seventy years to trace the history of the social contract between companies and their employees, showing how it has been ripped apart over time.





Rick Wartzman is director of the KH Moon Center for a Functioning Society at the Drucker Institute, a part of Claremont Graduate University. He also writes about the world of work for Fortune magazine online. Before joining the Drucker Institute in 2007 as its founding executive director, Rick worked for two decades as a reporter, editor and columnist at The Wall Street Journal and Los Angeles Times. While business editor of The Times, he helped shape a three-part series on Wal-Mart's impact on the economy and society, which won the 2004 Pulitzer Prize for National Reporting.





Wartzman, senior advisor at the Drucker Institute, explores what could be the defining questions of the twenty-first century-where we were, where we are, and where we are headed in terms of jobs and the nature of corporate America in all its bitter reality. His research is excellent and even-handed, yet his writing is sometimes difficult to follow, what with the many personalities included and all of the economic changes over time. Fortunately, the story is long on significance and short on partisanship. It really needed to be told in a book-length form sophisticated enough for the downsized executive and understandable enough for the laid-off factory hand. Wartzman draws on his extensive experience to catalogue the struggle for a social contract between management and labor and that contract's dissolution. He calls on diverse sources, from Saul Alinsky to Milton Friedman to many representatives of unions, government agencies, and business. Essential reading for those who have ever worried about their jobs. Copyright 2017 Booklist Reviews.





A sharp-edged examination of why large American employers shifted from loyalty to their workers to loyalty focused primarily on stockholders.Through deep reporting and anecdotal storytelling, former Wall Street Journal and Los Angeles Times writer and editor Wartzman (What Would Drucker Do Now?: Solutions to Today's Toughest Challenges from the Father of Modern Management, 2011, etc.), a senior adviser at the Drucker Institute, delineates the often shameful evolution of policies by concentrating on four of the biggest corporations in the world: Coca-Cola, Kodak, General Motors, and General Electric. The contrast between relatively beneficial employee-employer relations during the 1950s and today's lopsided relationship hangs over the lengthy narrative. The author pinpoints the rise and gradual decline of large labor unions within American industry as one of the major causes of employers cutting benefits for some workers and firing others. Wartzman wisely emphasizes how judges favoring corporate rights also played a significant role; he cites a 1998 federal appeals court ruling that, as an employee-oriented lawyer said, "decided that American industry no longer needed to keep its promises." Many of those broken promises involved reducing or eliminating pension funds and subsidized health insurance, leaving both current and retired employees desperate to find alternatives, often without success. In the meantime, high-level corporate executives increased their own pay and benefits, usually without objections from shareholders. At the close of the book, Wartzman devotes space to his well-informed opinion that the social contract between employers and employees may never be reconstructed, due to consistent emphasis on maximizing profits, the globalization of production, advances in technology, and the demise of counterbalancing labor unions. Wartzman suggests government intervention would be needed to repair the imbalances, including policies that co u ld revive labor union organizing, make remaining benefits portable from job to job, crack down on wage theft by employers, and more.A lively history with relevance to every worker. Copyright Kirkus 2017 Kirkus/BPI Communications. All rights reserved.






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