I was only able to listen to the first half hour.
The segment on McD's and Walmart, outstanding.
Your mention of Henry Ford. I had read a lot about him previously, he was a good man.
Ford was a pioneer of "welfare capitalism", designed to improve the lot of his workers and especially to reduce the heavy turnover that had many departments hiring 300 men per year to fill 100 slots. Efficiency meant hiring and keeping the best workers.
Ford astonished the world in 1914 by offering a $5 per day wage ($120 today), which more than doubled the rate of most of his workers.[21] A Cleveland, Ohio newspaper editorialized that the announcement "shot like a blinding rocket through the dark clouds of the present industrial depression." The move proved extremely profitable; instead of constant turnover of employees, the best mechanics in Detroit flocked to Ford, bringing their human capital and expertise, raising productivity, and lowering training costs.[23][24] Ford announced his $5-per-day program on January 5, 1914, raising the minimum daily pay from $2.34 to $5 for qualifying workers. It also set a new, reduced workweek, although the details vary in different accounts. Ford and Crowther in 1922 described it as six 8-hour days, giving a 48-hour week,while in 1926 they described it as five 8-hour days, giving a 40-hour week. (Apparently the program started with Saturday being a workday and sometime later it was changed to a day off.)
Detroit was already a high-wage city, but competitors were forced to raise wages or lose their best workers. Ford's policy proved, however, that paying people more would enable Ford workers to afford the cars they were producing and be good for the economy. Ford explained the policy as profit-sharing rather than wages. It may have been Couzens who convinced Ford to adopt the $5 day.
The profit-sharing was offered to employees who had worked at the company for six months or more, and, importantly, conducted their lives in a manner of which Ford's "Social Department" approved. They frowned on heavy drinking, gambling, and (what today are called) deadbeat dads. The Social Department used 50 investigators, plus support staff, to maintain employee standards; a large percentage of workers were able to qualify for this "profit-sharing."
http://en.wikipedia.org/wiki/Henry_FordI wish McD and Walmart followed his example.
Thanks Steven
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