In a recent announcement, Patagonia discussed its plans to reopen, and Patagonia CEO Rose Marcario stated that they were quick to shut down, (March 13) and may be late to reopen. She noted that Patagonia was willing to emerge from the shutdown as a smaller company if it meant achieving their goals for safety and social responsibility.
To see a company that can make such an impactful statement, and apparently has the resources to survive such a drastic commitment, is a great sign for our country, and should be celebrated.
Many companies are not in a position to make such a commitment.
Firms that do not have the market and financial position to sustain longer term losses, or firms that don’t benefit from the marketing goodwill created by such a position, probably won’t be able to match Patagonia’s position – a great example is today’s notification from Hertz that they are negotiating with their lenders, an indication of a potential bankruptcy filing.
Firms should do what they can, make the adjustments possible within their resources, and we should celebrate those contributions.
Individual Americans are in a similar position.
Those of us who are essential to maintaining the basis of our society – doctors and nurses, first responders, garbage haulers, food workers and others must be celebrated for the risks and costs they are incurring on behalf of all of us. Others, like Pier 1, who cannot make it through this on their savings, need to do the best they can to be safe, provide for themselves and their families, and should be celebrated for that achievement! Finally, those of us who can work from home and help minimize the risks of transmission should do so and keep the faith with the rest of our society.
Our response to the crisis must not be us versus them. It must be us. Lets work together to make certain that we all have reason to celebrate.