Every few years, an ultra-HNW American gets caught saying something on a ‘hot mic’ they shouldn’t have said.
Infamously, most will remember Donald Sterling, who received a lifetime ban from the NBA. Now it’s the Papa John’s founder.
BREAKING: Papa John’s announces resignation of John H. Schnatter as Chairman of the Board, following admission to racial remark https://t.co/XxZF0ZDrzf
— NBC News (@NBCNews) July 12, 2018
This has been an ongoing saga for the company founder, since making comments about NFL players.
It has become a veritable ‘pie in the face’ of company owner, John.
Now there are talks of employee walkouts and boycotts, which are completely useless recommendations.
The call should be clear, redundant, and responsive to the needs of society expressed by the data.
John: You hold the cards (i.e., the cash). Consider these responses to your PR crisis.
Use Balance Sheet Cash as Philanthropic Investments
PAPA the publicly traded company has $22 million cash just sitting on the books. What if the exec’s and board were to come up off some of this? Per the Federal Reserve, U.S. firms have more than $5 trillion cash, just sitting.
Economically disadvantaged scientists need financial supports for their inventions. Suggested: Make philanthropic investments into economically disadvantaged scientists [in the food science industry?].
Commit to Hire the People Who Were the Targets of Your Derogatory Remarks
Papa John’s has 4000+ stores, and a logistics infrastructure that daily provides food to many low-wealth communities. What’s the risk of food insecurity if 4,000 restaurants closed? Small likely… but taking that risk is just unnecessary.
Instead John, as majority shareholder, urge your former Board member colleagues to commit to put the highest qualified low-income, low-wealth black American applicant as a manager of each, as your own commitment to fight against illegal forms of economic oppression.
High Net Worth Ownership to Make Philanthropic Investments
John, you have a net worth of $700 million – congrats! You’re in the top 10% of U.S. households who hold 76% of wealth – about $50 trillion in financial assets.
In response to this PR crisis, John, make a commitment to give most of this away to economically disadvantaged black American scientists as philanthropic investments.
Simple Solutions to Combat Illegal Forms of Discrimination
Call a group of people what you want on a conference call. Actions can speak louder than words.
Frankly… more people might take these steps, without being prompted.
Philanthropic investments are NOT the response to a PR crisis. Some economists have suggested that this form of economic development might become a standard approach used by people who have been rewarded richly for their gifts and talents.
Just needs some momentum. Sets a blueprint for the future.