No, but they care about their company and their stock price. And the collapse of commercial real estate, especially in large cities, is an economic tsunami so big that it's terrifying. Go to downtown SF and walk around. It's a ghost town. When is it coming back? What if the answer is not for a very long time. And it's not just the big cities, even in smaller towns, law offices, etc. are still sitting empty since the pandemic. It's a huge, huge problem.
And when that impact hits, it will affect every business.
Those executives and many others know that. They're standing on the beach with the water out, knowing what's coming but helpless to stop it. But they're trying. Of course they're trying.
If execs cared about the macro economy they would simply pay their workers more. But they don't, they care about their company. They are hired, paid, and legally obligated to act in the best interest of the company. Not the country.
And when that impact hits, it will affect every business.
Those executives and many others know that. They're standing on the beach with the water out, knowing what's coming but helpless to stop it. But they're trying. Of course they're trying.