GOOD GRIEF! Can’t We Find a Better Word

There it was. Again. An offending word in a story regarding CVS — the management team and board of directors are "exploring" how they can create more shareholder value and DRIVE better financial performance,” The. Wall Street Journal reported.

To improve financial performance, you must get the employees on board. They will be doing the heavy lifting, so apparently CVS management will drive employees to perform better.

When I see the word “drive " associated with better performance, I pictured Charleton Heston in the 1959 movie Ben-Hur, whipping his horses and racing around a track to victory in a chariot race.

“DRIVE” in that context is probably correct, but when dealing with employees — at last check, they are still human beings — they are deserving of more considerate treatment.

We should INSPIRE, Motivate, or Lead employees, not whip them to DRIVE better performance.

Bad Economy or Questionable Change?

Is Southwest Airlines's layoff of 1,750 corporate staff members, the first in the airline’s history, an initial hint that management believes the economy will slow down? Or is it a reflection that, just beneath the surface of a manicured 2024 earnings report, all is not well with leadership and the company’s culture?

For context, the airline is currently dancing with Elliott Investment Management, a seemingly benign corporate name for activist investors aiming to extract every last cent of value, aka profit, for shareholders. The reality is that Elliott’s core motivation is to maximize returns on their investment. Period. 

Elliott is pushing for changes that have defined Southwest Air’s culture since its inception. Once they achieve their firm’s profit target, they will likely disappear into the night with little or no concern for the company’s future. Financialization — grabbing more money, not shareholder value — is what matters.

The whirling noise you hear is Southwest Airlines’ founding CEO, Herb Kelleher, spinning in his grave.