Potential shipping strike on the East Coast.

#176
#176
BernardKingGOAT said:
Again, it's the bonuses that make the compensation exhorberrent. When companies don't perform, their CEOs are expelled. Jeffery Immelt was Jack Welch's right hand man during GE's resurgence in the mid 1990s. When Welch retired, Immelt got the job and experienced some growing pains during a couple of natural disaster situations like we are currently enduring. He was fired after a lack of growth during period.
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I had to look it up, but it took 16 years of incompetence to get rid of Immelt. I don't think he or his great great great great great grandkids will ever miss any meals.
 
#179
#179
SpaceCoastVol said:
I had to look it up, but it took 16 years of incompetence to get rid of Immelt. I don't think he or his great great great great great grandkids will ever miss any meals.
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Yes, they hung on to him, but I didn't know it was that long as CEO. He worked his ass off to get there. There should be some generational wealth involved. He earned his shares
 
#181
#181
BernardKingGOAT said:
Yes, they hung on to him, but I didn't know it was that long as CEO. He worked his ass off to get there. There should be some generational wealth involved. He earned his shares
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By saddling the company with oceans of debt and wiping out innumerable stockholders?

Throw me in that briar patch Brer Bear.
 
#183
#183
LSU-SIU said:
How? A union is not generally considered in violation of the Sherman Act. I mean what you are saying is people can't agree to not to go to work.

Breaking up the union doesn't mean those people go back to work.
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It’s why I included the legislative branch instead of just the DOJ. The bottom line is that a small group is threatening to upset the entire economy if their demands aren’t met. If there isn’t existing legislation to prevent this, then there needs to be.

I’m generally not in favor of the government inserting themselves into commerce pissing matches. But the ports don’t function at all without the government’s investments. Whether it’s the actual infrastructure (even when trucks are moving the freight using the road system) or the Coast Guard keeping things orderly. Customs. Homeland Security (other than the CG). A couple dozen trade agencies. All of that investment should never be held hostage by a union gang.
 
#184
#184
Just wait until a settlement is finallly reached and the result is massively inflationary. The cost of every good imported by ship will see significant increases.
 
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#185
#185
SpaceCoastVol said:
If the .gov wants to break up things, a better use would be companies like AMZN, GOOG, Facebook etc... They are doing far more damage to the country.
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AMZN competes with Walmart. And Target. And Best Buy. And Home Depot. And Wayfair. And many more. Plus internet shopping is far from full penetration - it’s still growing at a very fast rate and it’s yet to be determined how much of that Amazon will control.

Google competes with many tech companies. They have had a near monopoly on search and it was being looked at as possibly needing to be broken up - but generative AI is doing the job instead. Facebook? There’s X and a slew of competing social media platforms.

None of those companies is threatening to shut down commerce.
 
#186
#186
LSU-SIU said:
How? A union is not generally considered in violation of the Sherman Act. I mean what you are saying is people can't agree to not to go to work.

Breaking up the union doesn't mean those people go back to work.
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They are monopolizing the jobs. There are plenty of workers available at even half of the current compensation.
 
#187
#187
LouderVol said:
no one's wages have kept up with inflation. but most other jobs aren't in a spot where they can hold up the rest of the nation and increase the inflation even more.

if we were completely manufacturing our own stuff they wouldn't have a job either. or a lot fewer of them would.
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Between the huge increase in import costs that will result from this strike and new tariffs imposed by Trump if he wins, there will be increased incentive to repatriate manufacturing operations.
 
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#188
#188
SpaceCoastVol said:
By saddling the company with oceans of debt and wiping out innumerable stockholders?

Throw me in that briar patch Brer Bear.
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GE is turning out to be a really good holding after a couple decades of being dead money. GEHC has done quite well. The Aerospace and Vernova pieces have done even better.
 
#190
#190
Thunder Good-Oil said:
It’s why I included the legislative branch instead of just the DOJ. The bottom line is that a small group is threatening to upset the entire economy if their demands aren’t met. If there isn’t existing legislation to prevent this, then there needs to be.

I’m generally not in favor of the government inserting themselves into commerce pissing matches. But the ports don’t function at all without the government’s investments. Whether it’s the actual infrastructure (even when trucks are moving the freight using the road system) or the Coast Guard keeping things orderly. Customs. Homeland Security (other than the CG). A couple dozen trade agencies. All of that investment should never be held hostage by a union gang.
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Should they hold management accountable as well? They are every bit as intransigent ya know.
 
#191
#191
Thunder Good-Oil said:
GE is turning out to be a really good holding after a couple decades of being dead money. GEHC has done quite well. The Aerospace and Vernova pieces have done even better.
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It sucked bigly during Immelt's tenure though. And he garnered generational wealth.
 
#196
#196
SpaceCoastVol said:
Should they hold management accountable as well? They are every bit as intransigent ya know.
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If management could draw from the other 100 million plus workers that could do the jobs and instead refused to and shut down the ports, then yes. They’ve made a substantial and highly curative offer to the brotherhood.
 
#197
#197
Thunder Good-Oil said:
If management could draw from the other 100 million plus workers that could do the jobs and instead refused to and shut down the ports, then yes. They’ve made a substantial and highly curative offer to the brotherhood.
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In your opinion.

If they were like the airlines and railroads the .gov could force them back to work until they went thru mediation and then potentially arbitration to achieve results. I would be fine with that if they are as essential as most seem to think.
 
#198
#198
Thunder Good-Oil said:
Don’t need illegals. Those with work visas will suffice.
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Yeah but you can save even MORE money by hiring really cheap labor. Besides, how long until those with work visas want their little part of the American dream and go on strike? Hire illegals and you can put their ass on a plane for El Salvador in the afternoon if they go on strike.
 
#199
#199
Daggett sure stepped in it, but I guess that’s what you should expect from somebody that primary management tool is a stick.
Instead of pointing out that the dockworkers instead of battling the abusive environment, 24 hours a day for $20 an hour could be making $15 an hour taking orders at Taco Bell.
 
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