The Tribune

By SIMON COOPER Res Socius I'M sure that many of us remember the song, My Old Kentucky Home, with some affection. In case you don't, it begins with the words: "The sun shines so bright in my old Kentucky home. 'Tis summer, the people are gay ..." Now while I doubt they're all of the same persuasion there, I was previously convinced that Kentuckians are generally a jolly lot (who also know how to cook chicken particularly well, too). That was until I read Natario McKenzie's article in Tribune Business on Friday on the subject of the feathers flying down at KFC. I'll be the first to admit that I rather enjoy the stuff myself, despite what health professionals may have to say. But what makes me even madder than the thought of having to visit Miami for my fix in future, is the fact that the people it gives work to seem content to shut it down, rather than to receive a market-related wage many unemployed people would die for. According to the reports I've read, these are the bare bones that the parties are picking over in these difficult economic times: * For historic reasons, KFC is paying more for labour than its competition. * Its input costs (and therefore prices) are higher and steadily creeping up. * Its customers are voting with their feet and buying chicken elsewhere. * KFC is warning that it is running out of money, and wants to talk to the union about managing its labour costs down. * The union has not responded to a request to attend a meeting to iron out the problem, because it says the timing is inconvenient. I reckon that right now the owners of KFC in the Bahamas must be seriously regretting their investment, and actively seeking a way out of the situation they find themselves in. Just as the once prosperous ship building and motor manufacturing industry executives in Britain must have felt, as they watched the gates close on their once-mighty yards, trashed by unionists in the late 1960s/early 1970s, who were too chicken to face up to the economic realities that Britain faced in those days, too. In fact, I'm not convinced that unions have a place in boardrooms at all. Their KFC members have the right to buy their chicken elsewhere, and no doubt some do. It seems they just cannot understand that KFC has the same right to switch to cheap, imported labour that, for some reason, I don't quite understand why our government lets flood through. No doubt some readers will not agree with me, and I respect their right to do so. The right I don't grant is the one that workers can effectively shut down their employers, yet claim whatever benefits the Government will afford them from the taxpayer's purse. Hopefully, sometime soon, our government will get around to allowing competition to determine wages rather than enabling anti-competitive practices. I'm off to grab what's left of my right to enjoy my favourite fast food. If you're looking for me, I'm the guy sandbagged behind what looks suspiciously like festive cardboard buckets, and repelling all invaders with a pair of drumsticks. * NB: Simon Cooper is a founding partner of Res Socius, a business brokerage firm authorised by the Bahamas Investment Authority that facilitates the sale and purchase of businesses. Contact 636-8831 or visit www.ressocius.com.