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COPYRIGHT 2005 All rights reserved. Reproduced by permission of The Condé Nast Publications Inc.
Aside from the usual consortium of Zamboni drivers and Don Cherry fanatics, few people mourned when the National Hockey League cancelled its season, a few weeks ago, after the owners and the players failed to come to a new labor agreement. But the fact that people are uninterested doesn't mean they don't have an interest. Businessmen should be paying attention to the N.H.L., because its troubles could soon be theirs. The impasse is less about hockey than it is about history--and being on the wrong side of it.
Traditionally, owners haven't had such a hard time. In the struggle between capital and labor, more often than not capital has won, because the real source of value for most companies has historically been the hard assets that they owned and controlled. Toyota owes its success to its machines, its assembly lines, and its...
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