Dr. Aatos Erkko emphasises corporate responsibility for workers

Quarterly economy benefits nobody, claims influential media figure

Aatos Erkko

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Dr. Aatos Erkko, the former chairman and the largest single owner of the SanomaWSOY media group, feels that it is important for Finland’s success for Finns to enjoy life in Finland, and that they should have work, education, and services in this country.
      In an interview in the 110th anniversary issue of the regional newspaper Uusimaa, Erkko said that if Finns do not enjoy living in this country, those who can leave will do so, while only those who cannot will stay. He notes that this would not lead to a better Finland.
      Erkko was sharply critical of Finnish companies whose moves abroad lead to unemployment in Finland. He said that if such a company has benefited from public funding, it should be required to pay it back.
     
Erkko also criticised the corporate management style based on quarterly reports.
      "My own view is that it does not benefit anyone. It weakens the ability of companies to see things in the longer term. Most important from the shareholders’ point of view is that a company has a future, and not how well it has done in the past three months", he points out.
     
Aatos Erkko says that it is possible that SanomaWSOY might pull out of the Helsinki Stock Exchange.
      "Trading in the stock is very small. In that respect we have no need to be on the stock exchange. As for the future, I cannot say anything, because I do not know."
      Erkko feels that it is natural that if a company generates a profit, some of it should go to the employees, through a personnel fund, for instance.
      He also believes that changes in the taxation of individuals could achieve more in terms of employment than changes in corporate taxation, even though he recognises that political jealousy could prove to be a problem in this respect.
     
Relations between Finland and Sweden are not in good shape in Erkko’s opinion, and he feels that the problem is a serious one.
      He attributes the deterioration of Finnish-Swedish relations to differences in the two countries’ approaches toward the European Union.
      Finland has actively sought to be involved in closer cooperation within the EU, while Sweden has remained outside Economic and Monetary Union and the common currency, the euro.
     
Erkko sees the recent behaviour of the United States on the world stage as "unreasonable to such a degree, that a slightly more passive attitude toward the USA is quite understandable".
      Erkko sees no collapse in relations between Finland and the United States.
      "If anything has collapsed here, it is the Americans’ own attitude toward us, and Europeans in general", Erkko says.
     
Erkko believes that Russian President Vladimir Putin is quite aware of the problems that he is being criticised for.
      "The Western media blasts like a foghorn whenever a single negative aspect of Putin comes out, but says nothing when things go well", he points out.
      Erkko says that he believes in Russia’s future, but warns against thinking that development will go at the pace that people in the West have grown accustomed to.
     
On Finland’s possible NATO membership Aatos Erkko does not take a direct stand, although he does say that NATO should change more before Finland joins the alliance.
      "We have a good readiness to join if such a need were to arise. Things are actually in quite good shape now, because Finland wants to answer for its own defence to a large degree."
      Erkko also praises President Tarja Halonen as a very effective leader


Previously in HS International Edition:
  Wake up, all quarterly consumers! (17.8.2004)

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