I’m not here to argue whether this country is democratic or a republic, but we have every right to question our leaders about their personal ethics.
While most leaders spend time convincing themselves that they want input, feedback, and assistance from their subordinates the fact is they intentionally hoard power, treat ethics as a bunch of finely printed words, and can’t stand the thought of losing their seat at or near the top.
Their lack of honesty, arrogance, and greed is directly linked to their lack of personal ethics. It is time we call them out at every opportunity we can.
They need to be questioned hard and without some pre-crafted message from their public relations or communications firm.
A few days ago in the Minneapolis Star Tribune Business Section, it was reported that Minnesota Mining & Manufacturing (known as 3M) currently operates five corporate jets and replaced two of them with new aircraft in 2010 and 2011. They plan on purchasing three new Gulfstream G550’s at a cost of over $48 million each in the next three years according to internal documents received by the Star Tribune.
This potential outlay of $250 million comes at a time when the company has a hiring freeze in place and has eliminated over 4,000 positions in the past three years.
What’s wrong with this picture?
3M’s executives declined to comment and their spokeswoman defended the aircraft as necessary to support their “far-flung operations.” This lack of transparency and direct explanation of these expenditures smacks of poor personal ethics.
But foreign travel accounts for a small portion of the trips made in the company’s fleet, according to a Wall Street Journal database of Federal Aviation Administration information.
The data show that the most popular destination for 3M’s planes at Holman Field in St. Paul has been Park Rapids, about 200 miles away from its headquarters.
Executives can also tap 3M’s fleet for vacations and other trips. In its most recent proxy statement, 3M said CEO George Buckley’s 2010 compensation of $23.2 million included more than $150,000 in costs for personal use of the company planes.
Why should highly paid executives be able to use corporate aircraft for their personal use as part of their compensation?
Are you kidding me? This is clearly personal ethics at it’s worst and sends a horrible signal to 3M’s employees.
Let’s do some comparisons of other large international companies in the Twin Cities area. 3M has almost $30 billion in annual revenues, operates in sixty countries, and has five aircraft. General Mills has almost $16 billion in annual revenues, operates in 130 countries, and has two aircraft. Medtronic, a $16 billion medical manufacturing company, operates in 120 countries and DOES NOT own any aircraft.
For you 3M executives claiming to care about the welfare of your employees, shame on you, and you deserve to be dressed down with hard questions.
Their lack of personal ethics represents pure hypocrisy and double-talk.
Should we expect highly paid executives with perks like this to come clean? Will they?
It won’t happen because they justify and rationalize everything based on their self-interests rather than the greater good of the companies who employ them.
Please show up at a shareholder’s meeting and call these cowards out for what they are and how they act!!
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