Not Capitalism as Usual, Ranging from CEOs on Very Short Time (or hot seats) to Sainting of Luigi Mangione

 The top job in business, both for public and private companies, has lost its aura. The money, power and influence no longer seem "worth it."

Recently in an BusinessInsider interview about whether Brad Karp would opt for another term as head of law firm Paul Weiss some observed that he would be "crazy" to do so. But Karp did and he has put the business on a souring upward trajectory. 

In that, Karp is atypical. More often those in the top job are finding themself pushed out or throwing in the towel because of so much pressure from such a variety of constituents. CNBC reports record turnover in 2024, increasing almost 9% from the year before. According to Challenger, Gray & Christmas, 327 chief executive officers left their businesses involuntarily or involuntarily. Those included Boeing, Nike, Starbucks and WW.

Capitalism has become both impatient and unforgiving. Demanding more/different and faster are the usual Wall Street players, activist investors such as hedge funds, consumers and even employees. About the latter, employment plaintiff firm Sanford Heisler can anticipate lots more business. 

Given this new force field one wonders if Bob Iger had been arrogant in sharp-elbowing (at least as described by media) his way back into the top job at Disney. After his first round as CEO his legacy was stellar. 

When Iger returned it was as an out-of-date leader in terms of understanding media. Currently, his latest crisis is in how he handled the legalities of Donald Trump's defamation lawsuit. If Iger doesn't do succession right this time he could be remembered in history as a guy out of sync with the ethos of the times.

Meanwhile, there is another wrinkle in how capitalism is mutating. That's the emergence of a kind of Counterculture 2.0. 

The man who allegedly murdered a supposed symbol of capitalism-gone-rot - Luigi Mangione - is being considered in some circles as a saint. If the death penalty is put on the table he could be positioned and packaged as a martyr. Saint Luigi could put in play the second coming of, as with the original counterculture of the late 1960s and early 70s, an upheaval in social and moral norms. 

Part of that could be a rejection of the conventional success. Many young people took on low-paying jobs versus aiming to board the capitalist upward-mobility train. That could have caught on had there not been the brutal recession of the mid-1970s. Even those survival job disappeared. The socialist-like support systems such as coop food banks and centers with free medical care also dried up. 

Affordable Career Coach Jane Genova provides end-to-end career services, ranging from diagnosis of the challenges and fix-it strategies to preparation of resume/cover letters/LinkedIn profiles and how to gain control of an interview. I specialize in over-50 work issues. The edge I bring you is a background in marketing communications. For a confidential complimentary consultation please text/phone 203-468-8579 or email janegenova374@gmail.com. Remote and in-person.