Welcome, folks. Today is Labor Day 2020, and hopefully you’re taking some time to reflect on your work, the work of others, and all the invisible work you might not think of as work (but is absolutely work).
For me, writing this newsletter is both work and play, and so I’m not taking the day off, per se, but will be taking us in a different direction than normal. There will be no recap today. But there will be a RE-flection.
We, as human beings (and more specifically as turnaround and restructuring professionals), have a responsibility to preserve the dignity of work and the rights of workers. To me, this means we’re in a unique position to promote economic justice, help generate societal value through production, and correspondingly to ensure the appropriate distribution of wealth to workers. It’s a lot to consider, especially in cases where a company’s life is at stake.
As people who work with distressed companies, our responsibility to the worker becomes even more tangible. Planning and considering the best human-centric outcome in a bankruptcy case is a careful balancing act of stakeholder management. But it’s a balancing act that’s always worth it.
Thanks for all you do for your clients, your coworkers, your friends, acquaintances, family, community, etc. etc. etc.
Keep up the good work.