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Some German firms are starting to imitate US executive compensation practices. Within the next few years, most of the large Western European corporations will go down this road.
Anyway, I think that shareholders, not employees, are the folks who ought to complain about excessive executive pay. Shareholders are the true owners of corporations. When a dollar that could be paid to shareholders as dividends is paid instead to a CEO who doesn't deliver the goods, the shareholders are the victims.
What corporation is responsive to their individual shareholders other than a few like Icahn, Kevorkian, etc., who buy fractions of a company rather than hundreds of shares. The companies are run by the mutual funds and banks who hold their stock in thousands and millions of times the small holder individuals. Voting your little proxy as a shareholder machts nichts. Don't like the insider techniques of appointing each other to their boards such as those people do? Don't bother.
I stunned an investor relations person when I called that I expected to continue receiving paper copies. They had made a change to digital unless you notified them. She indicated I could mark it on the proxy. I told her I don't vote and I told her the reason. The proxy had been thrown away already without reading.
2014 Malibu 2LT, 2015 Cruze 2LT,
That is exactly correct. When they pay the CEO of AA $10 million a year that would mean nothing to the UAW folks. It would be less than $1 per hour for those 3600 UAW members. So if the CEO can negotiate ONE DOLLAR per hour less from the UAW he has earned his pay check.
I hope it will get better mpg than my current 5.7L Hemi...altho, when I hit the accelerator, the truck flies from 0 to 100 in, say, about 2 seconds!!!!!!!!!!!!!
The G force can kill you, but what a way to go.....
No he didn't if that pisses off the line workers enough to result in a strike that cripples sales for a couple of months! Nothing is that easy! Try being either a CEO or a line worker.
It the end everything is connected...if the model is broken, it needs to be fixed...nothing is off the table.
Regards,
OW
I believe that is what he got the big pay raise for. He has succeeded in breaking the Union from what I can see. They move their operations to Mexico and sell off the plant to Toyota or Honda and AA is ahead of the game. They get a new modern plant in Mexico with grateful workers and make more money on each axle. It is a win for the CEO, stockholders and the town in Mexico. Three out of four ain't bad. Except for the UAW workers that thought they were worth more than they are.
Forota Motors News
Buying opportunity for some auto stocks? :shades:
You think those Mexicans can afford a new truck on what the CEO is paying them? Gee, if those American companies moving to Mexico paid so well, you wouldn't think there'd be millions of illegal aliens trying to cross the border to do menial work in America. You'd think there would be a mass migration of illegal aliens from Northeastern Ohio crossing into Mexico.
Not too far fetched when unemployment rates starts to creep up after the new administration raises takes to support the failed health systems and more companies close up shop due to high costs.
Regards,
OW
A Harley Davidson King Ranch Lariat HyperMegaCab F-450HD? No.
One of these? Yes.
Guess which one is actually more useful as a truck than as a male enhancement device.
The bleeding of jobs started soon after WW2 when we rebuilt the Japanese and German industrial base with all the latest in American technology. It has taken this long to catch up with the automotive industry. The UAW has had plenty of time to retrain their people and prepare them for this day. The UAW failed miserably.
General Motors Corp. has cancelled the medical and life insurance benefits of workers on strike at the automaker's Delta Township factory near Lansing, the latest salvo in a month-long walkout at the factory.
The United Auto Workers is picking up the tab for workers who show for picket line assignments, and their families. Members, however, have no dental or vision coverage.
The last time GM canceled benefits for striking workers was during the Flint strikes of 1998.
The factory's 2,300 hourly workers walked off the job April 17, halting production of GM's popular crossover SUVs. They stopped receiving benefits as of midnight Wednesday, GM spokesman Dan Flores said this afternoon.
Striking workers who've lost their benefits are eligible for benefits under COBRA, the federal Consolidated Omnibus Budget Reconciliation Act, which allows the employees to remain on their company's health plan for 18 months if the worker picks up the full cost of the monthly policy premium formerly paid by the employer.
2014 Malibu 2LT, 2015 Cruze 2LT,
Thursday May 15, 8:03 am ET
By Dee-Ann Durbin, AP Auto Writer
GM, UAW local agree on deal that could end monthlong strike at Lansing-area auto plant
Regards,
OW
Agriprocessors has faced other troubles, as well. In 2006, it paid a $600,000 settlement to the Environmental Protection Agency to resolve wastewater pollution problems, and this March it was assessed $182,000 in fines for 39 state health, safety and labor violations. In 2004, the U.S. Agriculture Department's inspector general accused the company of "acts of inhumane slaughter" after animal rights advocates publicized an unauthorized video of a stumbling, dying cow, and some Jewish groups attacked its worker practices.
And last month, the company lost a federal appellate court battle over whether it could ignore a vote by workers at its Brooklyn distribution center to unionize, on grounds that those in favor were illegal immigrants and not entitled to federal labor protections.
"This employer has a long history of violating every law that's out there -- labor laws, environmental laws, now immigration laws," said Mark Lauritsen, international vice president of the United Food and Commercial Workers union, which has waged a bitter battle to organize the Postville plant. The union charged that the immigration raid disrupted a separate U.S. Labor Department investigation into alleged child labor law violations and other infractions.
ICE may be "deporting 390 witnesses" to the labor investigation, Lauritsen said, adding, "This administration seems to place a larger value on big, splashy shows in this immigration raid than in vigorously enforcing other labor laws."
The question? Should illegals be able to vote to go UNION?
PS
I want to see the whole Rubashkin family in jail where they belong...
2014 Malibu 2LT, 2015 Cruze 2LT,
http://www.washingtonpost.com/wp-dyn/content/article/2008/05/17/AR2008051702474_- pf.html
I love the logic that the workers voted for union and the company doesn't want them deported!!!
The early quote in the article, ""I like my job. I like my work. I like it here in Iowa," said Escobedo, 38, an illegal immigrant from Yescas, Mexico, who has raised his three children for 11 years in Postville. "Are they mad because I'm working?" is the tip of the attitude iceberg. There seems to be an entitlement attitude. Too bad we can't use entitlement attitude to return jobs that went to China after Clinton opened it up benefiting an Arkansas company. I guess this should go to the Politics discussion topic
2014 Malibu 2LT, 2015 Cruze 2LT,
http://townhall-talk.edmunds.com/direct/view/.f146c1e/2118
link title
Regards,
OW
Don't hold your breath !!!
I agree with lemko, and his ratty apartment analogy !!! Lemko, the pseudo-capitalist golden eutopia as fintail, would put it is coming to light and despite some who live in denial !!! The good thing is this next november a new sheriff will be in town and you can say "bye bye" to NAFTA as you know it !!!! :shades: If he keeps his promise to overhaul that american manufactoring bill we just might be able to save this country "yet" from 3rd world status !!!!
-Rocky
The bottom line is 62' unless we are willing to lower our standard of living we will not be able to compeat against most of the world until we collapse. The Globalist are succeeding and their one world government is becoming a reality. I, lemko, and a few others feel threatened by what we see because we don't want to lose our country and culture. In order for a nation to survive you need "borders, language, culture" !!!
-Rocky
Illegal Aliens, DO NOT have rights nor should have union protection because they broke the law and are here "illegally" :mad: Unions should protect american citizens not illegal aliens from corrupt corporations and any employer who knowingly hires illegal aliens should get the gas chamber for treason for risking our national security to make a buck !!! :mad:
-Rocky
I do agree with that. My question is why are Unions in NY trying to Unionize illegal aliens? That was the issue. The Kosher beef Agri-processors complained that those votes to become a Union were invalid because they were cast by illegals. Sounds to me like the Union officials and company people all belong in jail.
If you and Lemko are counting on Obama or Hillary to do anything about illegals or NAFTA you are just fooling yourselves.
What is going to happen with a Democrat Congress and President is AMNESTY and business as usual. Remember you heard it here on Edmund's.
Now will the AA guys accept the contract proposal?
"This one of those rare instances even Rocky, has to agree with Marsha7, and Gagrice"
When rocky actually thinks I am correct, Hades WILL freeze over, and pigs will fly...
NOT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Hey, rocky, we've had this conversation before. I'm telling you that health care can't be off-loaded, not totally. The types of things we do at our hospital are totally necessary and the hospital is making money hand over fist. I admit, the amounts we charge for our services are awfully high. But the hospital doesn't as a statute of stated operations look to screw over it's workers in order to make a higher profit for shareholders(aka Boeing Company). I still maintain that Boeing is a messed-up company. Although I will heartily accept my pension when the time comes to collect it. And I must say that my pension just rose about 400%! I couldn't believe it. I must call the Boeing Total Access number and talk to one of their pension professionals. All I can think of is the Company is either getting very gratuitous(yeah, right) or the SPEEA union won us all more pension plan payout money. I've been away from there for about 5 years now so day-to-day business is lost on me from Boeing. That is truly good news and if I find it's true it will change my view on unions quite a bit. :shades:
Anyhoo, I have found a fairly safe occupation in Allied Health. I don't get that nasty feeling in the pit of my stomach that I had whilst at The Boeing Company. Mind you we have to practice safe medicine, keep up our continuing education credits, keep learning and keep a good attitude of care towards patients. It's not always easy, agreed. There is enough money to buy a new mechanical ventilator(they just did, although it's a small portable type vent but it is still a new ventilator)and put up new signage inside and out, a health viewing television in the main lobby, etc. The hospital's finances are sound and they have money in the bank.
I'm just stating these things so people can consider training in healthcare. It is an "in-demand" industry in America. I think we also need to keep a positive attitude about working and earning money, too. Keep that Harrison Ford determination in your heart, dudes(and the occasional dudette that lurks around Edmunds). And yes, I will go see the new Indiana Jones flick. Got to.
2021 Kia Soul LX 6-speed stick
Ok, I'll try to bring you back in the fold with this gambit:
People without papers most certainly have rights in the US.
Glaring example - hit one over the head and steal their Rolex. The cops will respond. I suspect that the victim won't get tossed out of court when the perp is sued in a civil action for medical damages because of some lack of jurisdiction.
Did a pig thud to the ground yet? :P
Meanwhile, "United Auto Workers President Ron Gettelfinger said Monday the tentative deal between the union and American Axle & Manufacturing Holdings Inc. (AXL) "is not a good agreement" but wanted to take it to the membership because "at this juncture, it's the best we can do. "If they vote it down, that's fine, that's their choice to make," he said. "If they vote it up, that's OK, too, that's their choice to make."
CNN
PS
John won't leave. Where would he vent his frustrations with our flaky Leftist government?
iluv: yes, but when you are my age, it is so easy to forget the long-ago-distant-past...you know...YESTERDAY........
What was I going to say next? I forgot. Oh, that Boeing pension payout when I'm 62. Yikes. Can a company change their mind and take back what's they've agreed to pay out in pension benefits? By the time I'm 62 I'll forget the agreement anyway, so it doesn't matter.
Anyway, rock, come on back here, ya hear? Don't go away mad, man. I want to know how the car business is treatin' ya, for one thing. And take heart, I now think that GM is in the midst of a big comeback. They need to over-emphasize hybrids and all-electrics. Heck, I might even consider looking at one of their electrics. If it beats Mitsubishi's i-MIEV and BYD's e6 in price and feature-content, I'll give it a hard look, man.
2021 Kia Soul LX 6-speed stick
I know you think in this country it is upper class vs. everyone else with the upper class grounding down the lower but in the real big scheme of things it is all of us grounding down the rest of the world. They all work for us sending us stuff and we really are not paying them for the stuff. We are just giving them IOU's.
Correct about the education also. Pretty much every job can be outsourced so we all better be ready to lose some of our way of life. I am just hoping that I can afford to keep our house during retirement. I think I have saved enough to do that but if our dollar goes own a whole bunch more then there may be worries.
And what can we do about it? Not much. I guess we could raise our taxes to pay off our debts.
Yup...happens all the time. Companies default and you get pennies on the dollar from the PBGC.
Regards,
OW
Why don't they simply mine the border? Shoot, the US/Mex border should look like the Berlin Wall on a massive scale!
Parts of it already do, and it doesn't work. (It didn't work for the GDR either.) On the other hand, if you're looking to a brutal communist dictatorship for lessons in controlling migration, you've already lost whatever argument you were trying to make.
Now that the strike is over, GM is adding shifts in Lansing to regain lost production. (teaser link)
There is some pre-staging stuff that has to be done before an assembly line can really start up again, and presumably the GM workers would be doing that while the axle guys get their supply back up to speed.
I like the car buiz, but the pay plans stink. I work 60-70 hours a week more/less for minimum wage and only sold 7 cars last month and that was as many and in a few cases more than some of my co-workers. 70-80% of the people I sell myself, the car, the dealership, well I can't get done because of their credit !!! The buy here, pay here, lots are getting a lot of the business because the traditional banks aren't loaning money out. Some in new cars are doing okay but truck and suv sales are pretty much dead with $4.00 gas. People bringing in their large SUV or Truck are several thousand dollars upside down and you just can't bury $10-15K in negative equity !!!
Well their you have it from somebody in the car business !!! I saw my first seven-hundred credit score last week in about a month and a half !!! Guys, I work for one of the top ranked Chevrolet dealerships in Grand Rapids, and it is mind boggling !!!
-The Rock
P.S. I think the AA strike will be settled this week !!!
And maybe GM is ramping up with a stockpile of Mexican made axles anticipating increased US production shortly?
Sort of like the last time the buggy whip makers went on strike. :shades: And look what happened to them.
Least we not forget the "United Stage Coach Workers" ! :mad:
That strike was so devastating that people were forced to start riding Gray Hound.
Kip
-The Rock
P.S. Guys, next wednesday will be my last day selling cars !!!
Regards,
OW
Seriously, what is your next venture???...and, realistically, does it pay to consider trying to sell Toyotas or Hondas, despite your background and family pressure???...if your family ain't paying your bills, and selling Hondas will, you might owe it to yourself to do the right thing...
Selling for Toyota ain't the same as selling US military secrets to the Russians...one is treason, the other is simply selling what sells, and Toy and Hon are selling now...