There was a philosophy and a wisdom to this methodology. Nobody wanted to stay at the bottom. They would try and work their way up. The wisdom was even brighter when it came to the most disgusting job. The company was getting a fresh perspective on the job, and would perhaps obtain several useful ideas about how to fix that process from a fresh perspective.
Today’s management goes through cookie cutter MBA programs at Harvard, Yale, or mail order. Sometimes they simply buy their degree on-line. They start out in management and have absolutely no idea what the company does or how it does it. They think a degree in management means they can manage anything. In truth, they have become disposable. We can safely off-shore each one of these jobs to countries where wages are $10/day and have only a positive impact on the bottom line. We can even pay those people $20/day if we want, saving hundreds of millions for the share holders. No more back dated stock options scams. Hundreds of millions will be saved for asset acquisition and paying of people who have real skills which are needed to make the company work. Heck, for that $20/day, we might even hire people who have ethics. Won’t that be a novel concept for mahogany row?
Simply try to envision just how much better off the country will be when we don’t hand out 360 million dollar golden parachutes to a smile and a hair cut that sat at a desk for 6 months waiting for another smile and a hair cut to replace them.
Ethics, I remember them fondly.