Sure, it was all well and good for Genghis Khan, but when we discuss the modern employer/employee, the loyalty expected is a bit one-sided. The employee is supposed to work as much overtime as the company wants, yet the company can fire/lay off the employee with nary a warning. Where's the loyalty in that?

I agree completely, but I don't think that that loyalty can or should come from legislation. It's got to come from the culture of the company, perhaps with contracts to back it up.

I think these days, most people of my generation don't really think much of the idea of loyalty from or too a company, which, for some people, careers, and companies, is probably damaging in the long run.

In the context of starting a company, this is pretty wise advice.

Do you hire people who are brilliant but ethically questionable (and might stab you in the back one day for an advantage), or do you hire people who are merely great ... but will stay and struggle with you when the inevitable hard times come?