Fear and loathing in Atlanta (part 1)
Written by Mary Ann Downey from i4cp on October 03, 2008
How did this happen? The primary factor is that many people are making rational decisions that differ from their normal patterns. This sets off a spiral effect that turns into irrational group behavior. Next thing you know, the fundamentals of capitalism are turned upside down, with a warped perception of supply and demand driving the death spiral. High summer gas prices, a couple of hurricanes, and the resistance on the part of the citizens of Georgia to having a refinery "in their backyard" didn't help. Neither did the local media, who seem to delight in stoking the fuel frenzy by leading every newscast with dramatic stories of gas shortages throughout the South, mainly in Atlanta. This is unfortunate, since Atlantans have the longest daily commute in the U.S., averaging 32 minutes.
So a potential gas shortage rapidly turned into a full crisis. The evening news became 20 minutes of gas stories. The governor of Georgia, Sonny Purdue, held a press conference stating there was no crisis; a statement that was quickly qualified. Then, just when we thought it couldn't get any worse – George Bush addressed the nation about the impending financial crisis and the need for political intervention for the country to remain strong. There is no doubt in my mind that this ratcheted up the fear factor.
By day 18, the media was telling people not to call 911 to ask which stations have gas and informing panicked viewers that one gallon milk jugs are not a safe way to transport and store gasoline. Due to the shortage, cars were lined up in the streets, which caused traffic congestion and lengthened commutes; wasting even more gas. It was at this point that I couldn't help but wonder what this crisis was doing to another fundamental in the economy – productivity?
When trying to calculate the impact of this crisis, I think of the local filling stations (many were dark for days because they were only selling lottery tickets and cigarettes), the time spent in lines waiting to fill the tank, the pizzerias that stopped delivering, and the folks who just couldn't find enough gas to make it to work. Top this with the anxiety of seeing your 401(k) drop by 20%, talk of bank and business failures, and the political theatre each evening. How could productivity and engagement not fall under these extreme conditions?
These are uncertain times for our organizations, stakeholders, and country. While there are things we cannot change – such as Congress or Wall Street – we are not helpless either. The trick is to "have the wisdom to know the difference." At least that was my prayer while waiting to fill my tank last night.
In part two of this blog (look for it over the next few days), I'll supply some tips on how to manage a workforce that is feeling a fuel crunch. Till then, check out i4cp's Pulse Survey Finding: Fuel Costs … and, whatever you do, don't panic.
