Summary of David Webber's The Rise of the Working-Class Shareholder
Author | : Everest Media |
Publisher | : Everest Media LLC |
Total Pages | : 35 |
Release | : 2022-02-24T23:26:00Z |
ISBN-10 | : 9781669348450 |
ISBN-13 | : 1669348458 |
Rating | : 4/5 (50 Downloads) |
Book excerpt: Please note: This is a companion version & not the original book. Sample Book Insights: #1 In 2003, Safeway, a California-based supermarket chain, sought to boost profits by cutting employee benefits. The company’s CEO, Steven Burd, hoped to make the workers pay for his mistakes by cutting their pay. #2 Burd, having anticipated a potential strike, sold off his shares in preparation. He also entered into a revenue-sharing agreement among Safeway's subsidiaries, Vons, Albertsons, and the Kroger Company's store Ralphs. #3 George Burd, the CEO of Safeway, faced a labor dispute with his employees when they went on strike. #4 Albert Burd, the CEO of Safeway, was voted out by the company’s shareholders in 1999 after a labor-led campaign against him and his allies on the board.