We can learn from George Bailey
When we watch Frank Capra's timeless classic, "It's a Wonderful Life," we are reminded to count the many blessings we have, even when they may be overshadowed by personal trials.
Whose spirit isn't lifted by the film's conclusion where the citizens of Bedford Falls rally together in support of George Bailey, generously filling a basket of cash?
Does the movie include additional, business ethics-related messages complementing the theme that family and friends matter above all else? Looking closely at Jimmy Stewart's portrayal of George Bailey reveals that there are, as simplistic as they may seem. Let's start with greed in business today. We now know that unscrupulous loan originators and profiteering mortgage companies exploited thousands of overly trusting and optimistic homeowners in recent years, leading to today's staggering foreclosure rate.
Pockets filled with cash and not a wink of sleep lost for the families who lost everything. Old man Potter would have been proud.
Sure, the Bailey Building and Loan took risks, but it sensibly bet on the wherewithal (certainly documented) and character of Ernie the taxi driver and the other hardworking citizens of Bedford Falls. And, in contrast to today's self-indulgence, George Bailey's primary motive - his mission - was to help provide a better home and life for Ernie and his family, making a reasonable and fair profit in the process.
How about executive pay? When businesses merge nowadays, executives aplenty seem to softly land with millions, courtesy of golden parachutes, while too many other employees are simply cast aside and forced to file for unemployment when a token severance is exhausted. This is wrong.
Potter offered George Bailey a tempting opportunity to cash out. But Uncle Billy and the lot weren't going to make the cut. Human as George was, he thought about the offer. But, in the end, he fervently declined, knowing the Building and Loan's stakeholders wouldn't benefit proportionately. George chose principle over personal profit.
Beyond the few illustrated here, "It's a Wonderful Life" presents several more examples of time-tested business and life principles that still should apply today, including honesty, loyalty, frugality, fairness, compassion and grace. Think of George turning down Sam Wainwright's repeated big dollar job offers or his helping Violet Bick when she was down on her luck.
Of course, none of today's business or economic challenges is as simple.
But if more business people, politicians and even we regular citizens had acted more like George Bailey over the years, we might not be in this economic mess. Maybe if we start doing so now, we can work our way through it to a positive outcome.
Jim Bartelson
St. Charles