Quote DaveO="DaveO"... Not only is the idea of a trust fantastic the fact he owns 100% of the business is what allows him to do this. It's the same as John Caldwell and Phones 4 U when he used to run that. It was not listed on the stock exchange and as a result it made him rich but it also allowed him to pay his employees very well without the constant pressure to drive down costs (wages!) to improve profit...'"
Absolutely. I think you've hit a nail on the head about where at least part of the problem lies.
Quote DaveO="DaveO"... This is long gone. I have a relative and a neighbour who work for them and I can assure you The Richer Way has long left the M&S building. And funnily enough they aren't considered that brilliant a retailer any more. Certainly not compared to John Lewis.'"
Spot on again.
Over the years, the quality of service – which has cost [ime[/i time and money – at a number of retailers that might appear to be cheaper than John Lewis (forgetting the 'never knowingly undersold' thing) has ensured that now, if I need household goods, say, I go straight to JL and, where I use a supermarket, it's Waitrose too. It seem that a number of retailers no longer care about customer service.
But there's also the related point that increasing numbers of businesses seem to see their employers simply as a cost – to be cut as much as possible – and not as an investment, which partly brings us back to the living wage, as mentioned earlier. Not only is it better for individual employees – it's better for business, if business is prepared to be slightly less short-sighted and short-term in thinking. I do wonder how much the pressures of the Stock Exchange/City exacerbate this.
There's also the wider point that, quite simply, the current situation is not sustainable. And why does anyone want to keep pushing an unsustainable approach?
