2002 Case*
Workers in a major northeastern
U.S. city were recovering from a 21/2 foot snowfall, which
some reports termed "paralyzing." Many companies in the
Northeast had encouraged their employees to "battle through"
the storm. One organization, JKL Bank Corp.'s institutional
mutual-fund operations, took a notably upset tone with those
who lost the battle.
Jerome R. Carmody, chairman of
the bank's fund operation, wrote to employees that he "was
disappointed to not see more employees at work" on the Monday
following the storm. Continued Mr. Carmody: "While I don't
confuse our goal with emergency personnel working in hospitals,
we have, nonetheless, chosen a profession that demands our
uninterrupted servicing ability."
In fact, 30% of the staff managed
to reach work on a day when several companies had closed
their doors completely. Mr. Carmody praised those who made
it in, but pointed out that more workers should have taken
advantage of local hotels the night before, adding that
employees "who typically experience unplowed streets near
your homes should use common sense" next time.
Employees who received the memo
were noticeably upset. The employees pointed out that area
governors had ordered "nonessential employees" to stay off
the roads, so those who attempted the drive to work risked
getting a ticket and fined. Mr. Carmody's "suggestion that
the company's job of advising and servicing mutual funds
– including the calculation of funds' net asset values,
or NAVs, for newspaper tables – is only a few steps
below the business of saving lives" was particularly outrageous
to many employees.
To ensure that employees are more
prepared to do battle with future winter storms, Mr. Carmody
has promised that specific "crisis services" individuals
will be "stationed" at area hotels the day before a storm
to "remind" employees of the "criticality" of getting to
work.
*WSJ article written by William Power appeared January
15, 1996, p. B1.
