The bad economy has taken a toll on everyone . Americans are finding it extremely difficult to find a job, and those that have a job have seen wages and benefits frozen or cut. At one company, however, people are doing very well: The Wall Street Journal reports that Apple is breaking the trend with plans to increase wages at its stores by up to 25 percent this year.
To those of you who are too young to remember what a good economy looks like, in good times, stories like this one are normal. A successful business enterprise has three main assets: a solid business model, smart management and good employees. Apple has them all, but it realizes that in order to keep those employees, it needs to offer them more. Thanks to its solid performance, it can. Despite the economic uncertainty, Apple has proven that it is possible to not only survive, but thrive in a competitive marketplace.
This is good, but we need more of it. America should to be doing everything it can to create the conditions for more Apples to develop and grow. We need hundreds of thousands of successful firms, some large and some small, that combine a smart plan, committed employees and focused managers into an enterprise that serves the public while raising wages and living standards.
It can be done; it’s how our economy was built. We can and will do it again.