Expectations and Obligations
Expectations and Obligations
This chapter concludes the book with a parable from the personal story of Aaron Feuerstein, owner of Malden Mills, who found three out of his nine properties destroyed by fire just before Christmas in 1995. Feuerstein reacted to this disaster in a humanely manner. He paid his workers' their wages for the following month even though he was not legally required to do so. He also provided them with their expected $275 Christmas bonus. This action surprised the world, and Feuerstein became the subject of discussion in Time and Newsweek, as well as on television. Feuerstein stated that he felt a certain sense of obligation towards his employees and community. Ownership and obligation, initially, do not seem to have much relation to one another, but it is this relationship that the chapter further expounds upon, and concludes the book with.
Keywords: Aaron Feuerstein, Malden Mills, ownership, obligation, wages
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