Bloomberg News rounded up some statements made by a few leading CEOs about the 99% movement. They seem to have a problem with them:
HOME DEPOT CO-FOUNDER BERNIE MARCUS: “Who gives a crap about some imbecile? Are you kidding me?”
HOME DEPOT CO-FOUNDER KEN LANGONE: “I am a fat cat, I’m not ashamed…If you mean by fat cat that I’ve succeeded, yeah, then I’m a fat cat. I stand guilty of being a fat cat.”
FORMER BB&T BANK CEO JOHN ALLISON: “Instead of an attack on the 1 percent, let’s call it an attack on the very productive. This attack is destructive.”
PAYCHECX INC. FOUNDER TOM GOLISANO: “If I hear a politician use the term ‘paying your fair share’ one more time, I’m going to vomit.“
I decided to look up Bernie Marcus (one of the richest 400 individuals in the U.S), knowing he was probably raised with a silver spoon in his mouth. But not so. He was raised in a New Jersey tenement and worked in his father’s woodworking shop. Not being able to go into medicine because of lack of funds, he instead received a degree in pharmacy. Because he liked the retail business and wanted to stay in that field, he was able to gain associations with people who could join him in the funding and founding of Home Depot. So I’d say there was an honest (I’m assuming) success of individual entrepreneurialship and I applaud that.
However, his arrogance over the years has apparently gotten the better of him and his smart-ass response of “who gives a crap about some imbecile” gives one an idea of who and what he is really about.
Now, enter Warren Buffet. By Marcus’ standards, Buffet (as one of the richest people worldwide) should be able to achieve the same height of arrogance as Mr. Marcus. But he hasn’t and he never will because there are some people in this world who will never change their stripes–no matter their financial status. They still retain their humility and haven’t forgotten their roots.
And Buffet is one example of why we shouldn’t brand ALL the one percenters as uncaring and insensitive buffoons. However, the majority of them seem to fit the description of a Bernie Marcus and they are the individuals against whom the 99 percenters are protesting.
I rarely go to Home Depot. But now, I ain’t going there at all and even though my lack of business isn’t going to hurt the wealthy CEO one iota, there will be a satisfaction on my part that I didn’t aid and abet such condescension.