Comments on: 3M CEO on Plant Closings

By: Bunz

Bunz — Tue, 06 Jan 2009 14:32:00 +0000

It is clear that Buckley is looking out for his company first and foremost. As a Twin City resident with close ties to the 3M community it is obvious that he and the previous CEO have destroyed the 3M culture that valued innovation and replaced it with a culture that values efficiency. The result has been a loss of jobs, which in turn has destroyed employee morale, loyalty,and commitment. On a different level most employees now share a perspective not unlike Buckley’s. Who cares about the company as a whole, I have to save my job.

By: Anonymous

Anonymous — Mon, 05 Jan 2009 11:58:00 +0000

It’s the basic tenant of free-market capitalism, in good times the pursuit of record eps, productivity and growth that outpaces the competition and peer companies is characterized as successful…protecting your company in a down market is the same thing, it’s not being an unpatriotic greedy pig. The difference is the environment in which one is operating and this creates different reactions from those impacted by the decisions. In an up market survival results in prosperity while in a down market prosperity IS survival.

By: Dollars and Sense

Dollars and Sense — Wed, 31 Dec 2008 17:53:47 +0000

Good question. Maybe these aren’t incompatible? What’s interesting about the quote is that he admits that what he’s doing is bad for people generally, but good for his company.

By: Clarence Ewing

Clarence Ewing — Wed, 31 Dec 2008 03:50:00 +0000

So is Buckley being an unpatriotic greedy pig, or is he simply following the basic tenent of Free-Market Capitalism, that each of us should pursue our own self-interest and everyone will be better off because of it?