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Automotive News & Views United Automobile Workers of America (UAW)
16663 messages, Last post on Nov 08, 2009 at 9:32 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Replying to: dallasdude1 (Nov 22, 2008 7:42 pm) If it is my illusion it is also yours. That is exactly what I said. You scratch my back, I'll scratch yours. Something the SEC should be able to control.
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Replying to: steve_ (Nov 22, 2008 8:08 am) IUI /A\ \W/ |
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Replying to: gagrice (Nov 22, 2008 7:52 pm)
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Replying to: dallasdude1 (Nov 22, 2008 8:06 pm)
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Replying to: gagrice (Nov 22, 2008 8:16 pm) Stock options are a good thing. Let say that the stock price is $10 a share at the beginning of the year and the CEO manages to increase the value to $100 at the end of the year. He buys all the shares he was allowed at $10 at years end and profits $90 a share and all of the shareholders stock has risen to $100 and that incentive was well worth it. However, if the stock was worth $5 a share at year end, that CEO would not exercise the stock options. My main point is that these folks operating these companies are not the cream of the crop, but rather the bottom of the barrel. Many schools have 70% of the student body doing a business major and while some are managers at Payless Shoes, some go on to operate large corporations. When an ENRON occurs it affect many lives all because moral corruption, ethical bankruptcy, and lack of character by upper management. Just what is a CEO's justification for compensation beyond the average Americans rational comprehension?
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Replying to: nvbanker (Nov 22, 2008 3:15 pm) I figure that if Cadillac went to the trouble to build a RWD sedan that can actually be had with a stick, then the least I can do is include it in my evaluation process. It doesn't hurt Cadillac's chances that the CTS is, in my eyes, a real looker. |
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I have to agree with Obama, there are problems in this country that are much more important than the automakers lack of ability to handle a recession. A trio of crises — housing, credit and financial — have badly damaged the economy, and financial analysts have projected the country's economic hardships will continue through much of 2009. Obama acknowledged Saturday that evidence is growing the country is "facing an economic crisis of historic proportions." He noted turmoil on Wall Street, a decrease in new home purchases, growing jobless claims and the menacing problem of deflation. Obama says he will spend a lot of money on the infrastructure such as roads & bridges. I would like to see FDR, CCC and WPA type programs. UAW workers that need a job, sign up to work on bridges and roads. You get 3 square meals and a roof or tent over your head. During the 1930s thousands accepted hard work over starvation. Will today's workers have what it takes to survive a real depression?
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Replying to: rockylee (Nov 18, 2008 2:52 pm) Toyota and Honda started building cars in the USA for several reasons. None of them relating to your statement. They hired hard working Americans and gave them a living wage for the area they were in. You lose your arm at work, Union or non Union you deal with Workman's Comp controlled by your state. Unless the UAW has some deal other Unions do not have. Building cars in the USA is good business for the Japanese, Germans, Koreans and soon to be Chinese. Ask yourself why not the Big 3? I think you can trace it to the UAW. It would be interesting to see the percentage of disgruntled UAW workers to Toyota workers. If the UAW is all you say it is, UAW workers should be 100% happy campers. At least until GM files for bankruptcy. They will join the 1000s of GM dealerships that have already gone bankrupt because of their lack of good GM management.
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Replying to: dallasdude1 (Nov 22, 2008 11:16 pm) Problem is, and this goes along with your previous post, if the stock drops to $5, the the board says "Awwww you poor thing, we'll rework your stock option so the price is $1 per share, and double the number of shares you can buy." Then he cashes in at essentially an $8 profit, before getting the boot with more millions in severence. And if that isn't enough of a kick in the family jewels to the hard working employees whose paltry 100 share option for $10 is still worthless, he now has a couple million votes to keep perpetuating this nonsense. And it's all legal 
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product that moves me. A 1969 Dodge Super Bee, no doubt built by UAW labor, back when Detroit's stuff really got my motor running. I bought this model two days ago from a man running the Worldwide Hobby Shop in downtown Willcox, Arizona, my home town. He recently moved to a new location downtown, paring his inventory down to a very small amount of merchandise. He is also doing computer IT help work on an outcall basis and tells me that the calls for help are slowing down to an unprecedented level, because of the economy. I'm going to paint this one Transparent Candy Apple Red with a grey carbon fibre hood. Putting together models like this are a slow labor of love for me.
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