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New ‘corporate code of conduct’ for businesses announced

It includes things like having workers on boards and not letting shareholders run away when sh*t hits the fan

Very slowly and not very surely, things might be changing in the power dynamic between bosses and workers in UK businesses.

What it means: An organisation called the Financial Reporting Council is unveiling a new 'corporate code of conduct' today to make businesses more accountable to their workers.

One big announcement is the idea that workers need to be represented by an employee advisory panel or some kind of director from the workforce on the board of a company. It's a very watered-down version of an idea that exists in 19 countries in Europe. In Germany, at least half of the board of companies with over 2,000 employees needs to consist of workers.

The other important change is that shareholders (people who invest in a company, 'paying' for part of it in an exchange for a section of the profits) can't take out their shares until five years after they step down. The idea behind that one is to avoid shareholders ditching the firm right when they know things are about to go downhill, covering their own backs but making things worse for everyone left behind.

Union reps say they're good steps forward but by no means as radical as they could be: and plus, the whole thing is optional.

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  • RW

    Your right to a degree. You mentioned “the wandering Jew”.

    I elaborate that the Jewish people, historically have tended to migrate almost exclusively to locations that are economically and culturally vibrant already. I would speculate that Jews have thrived in these places and have often improved the bounds of their economies and knowledge base.

    You can also ask; how many massive entertainment conglomerates, Nobel winners or billionaires has Isreal developed? If Jews are so capable, why isn’t Tel Aviv the Rome of our time?

    Jews are successful because they value education, maintain a strong social cohesive, they actively monitor and have a good sense for Zeitgeist wherever they are and they carefully choose the places they settle and congregate themselves heavily in these choice locations.

    But most importantly (haulocaust increased the importance of this aspect), they actually designed their culture for success. They not only attend Harvard, they use what they learned to better the group as a whole. With as much, they studied intricate networking systems, adapted to it and in many cases improved upon them. (See how Japan acquired Aegis warships and made them better).

    Of course there is nothing wrong with any of this. It’s when you elaborately gain disproportionate power in any society where you would stand out, you must take care when attempting to make a society better (Civil Rights movement) and rewriting that society all together (mass immigration). Ask blacks in China, Mexico, Philippines or India how much opportunity they have? Go to businesses owned by their American diaspora and see how many blacks they hire. Go to Silicon Valley and see how many East or South Asian tech workers wish they could work with more black people. California might work as a state, but as a nation, I think your rolling the nuclear dice here. I hope we can succeed as a tolerant pluralistic superpower but at this stage in human societal development, it’s a pipe dream.

    And if Jews really are the icon for success, they would see that fundamental human successes happen over generations. Just look at the rest of the planet? Are we ready?