Triumphrat

SlowPocono · 11-19-2012, 07:25 PM

B.T.W. That was Gentleman Jack talking, not me.

Greaser · 11-19-2012, 07:25 PM

Quote:

Originally Posted by HAP

http://www.foxnews.com/us/2012/11/19...ntcmp=trending

Never ending saga gets even more convoluted.
http://www.foxnews.com/us/2012/11/18...ntcmp=trending

Could save a few jobs.

Faux News? You know they are even less credible than MAD magazine, right?

Owenbrau · 11-19-2012, 08:45 PM

Quote:

Originally Posted by BMK9251

Yes, until you find another job. OR simply become a martyr for the union cause which will leave you by an empty barrel of burning wooden pallets at the curb side of a closed plant in Winter.

Bottom line: When they call you on your threat to walk out it is game over. So the scraps will keep you alive long enough to find something else.

And yet, you have nothing bad to say about the execs that actually caused this mess.

I've been working without a contract for five years now. We haven't struck because state law prevents the city from imposing new conditions upon us, as happened here. These execs gave themselves huge raises while not paying into the pension as they were legally obligated to do, then demanded huge wage cuts and concessions, and you are still saying it is the union. oy.

And now they are complaining about the cost to keep the company open while the process drags out, neglecting to tell us that the money being spent goes to THEM!

HAP · 11-19-2012, 08:50 PM

Quote:

Originally Posted by Greaser

Faux News? You know they are even less credible than MAD magazine, right?

You do realize they simply copy all the far left, progressive rags and regurgitate what has already been printed?

http://money.cnn.com/2012/11/19/news...source=cnn_bin Just to prove all unbelievable news doesn't come from just the right loonies, here is some left wing loony news.

Haggis · 11-19-2012, 08:54 PM

Quote:

Originally Posted by Baltobonneville

I'm not sure how many people know the pattern with many of these takeovers by private equity funds:

Buy the struggling company cheap, have all employees except management sacrifice wages and benefits and suffer layoffs to keep it "viable". Pay outrageous sums to management for outstanding work to keep company going, and charge massive fees for financial advisory services.

Take out massive loans allegedly to improve the company and make it viable, continue with the givebacks and layoffs for employees and the massive salaries and bonuses for managers. Charge massive fees for advisory services and for arranging the loans. At the same time, split the company into profitable and unprofitable divisions, and sell off the profitable parts. Charge massive fees for this expertise.

Declare bankruptcy to get out from the huge loans, continue with more givebacks and layoffs by employees and more money for managers to carry the company through bankruptcy. Charge massive fees for advisory services and "helping" the company through bankruptcy.

Repeat a couple more times if possible (think airlines). When the scam doesn't work anymore, or the employees balk, close up shop. Charge massive fees for advisory services. If the company doesn't close, it has been radically restructured by reducing employee wages and benefits to much less than they were before.

In the end, nothing has been accomplished, but the private equity fund has sucked millions out and made a handsome profit for its "investment", and its accomplices in management have been paid very well, while the company has gone out of business and the workers have lost their jobs. Blaming it on the unions is just the icing on the cake.

This is the playbook for vulture capitalism. It's massive legalized theft and fraud. Some companies can't continue in business because their markets have changed, but they don't have to be terminated like this.

This is correct.

jonkster · 11-19-2012, 08:55 PM

Quote:

Originally Posted by HAP

You do realize they simply copy all the far left, progressive rags and regurgitate what has already been printed?

oh

well, I guess that means I won't be buying MAD magazine any more then.

HAP · 11-19-2012, 08:58 PM

Quote:

Originally Posted by jonkster

oh

well, I guess that means I won't be buying MAD magazine any more then.

It will make hair grow on the palms of your hands reading that stuff.

UnklFungus · 11-19-2012, 09:26 PM

Quote:

Originally Posted by Baltobonneville

I'm not sure how many people know the pattern with many of these takeovers by private equity funds:

Buy the struggling company cheap, have all employees except management sacrifice wages and benefits and suffer layoffs to keep it "viable". Pay outrageous sums to management for outstanding work to keep company going, and charge massive fees for financial advisory services.

Take out massive loans allegedly to improve the company and make it viable, continue with the givebacks and layoffs for employees and the massive salaries and bonuses for managers. Charge massive fees for advisory services and for arranging the loans. At the same time, split the company into profitable and unprofitable divisions, and sell off the profitable parts. Charge massive fees for this expertise.

Declare bankruptcy to get out from the huge loans, continue with more givebacks and layoffs by employees and more money for managers to carry the company through bankruptcy. Charge massive fees for advisory services and "helping" the company through bankruptcy.

Repeat a couple more times if possible (think airlines). When the scam doesn't work anymore, or the employees balk, close up shop. Charge massive fees for advisory services. If the company doesn't close, it has been radically restructured by reducing employee wages and benefits to much less than they were before.

In the end, nothing has been accomplished, but the private equity fund has sucked millions out and made a handsome profit for its "investment", and its accomplices in management have been paid very well, while the company has gone out of business and the workers have lost their jobs. Blaming it on the unions is just the icing on the cake.

This is the playbook for vulture capitalism. It's massive legalized theft and fraud. Some companies can't continue in business because their markets have changed, but they don't have to be terminated like this.

This sounds eerily similar to what the "Federal Reserve" has done with our country. Read the history of the Fed, this is almost exactly what they have done to the U.S.A.

Owenbrau · 11-19-2012, 09:28 PM

I've read it. You're wrong.

UnklFungus · 11-20-2012, 02:07 AM

Quote:

Originally Posted by Owenbrau

I've read it. You're wrong.

How am I wrong? They own nothing, yet they charge interest on loans they make with our own money. They write loans on homes they don't own, then they repossess them. The above is exactly what they are doing as they consolidate their hold over our country by crashing the value of our dollar and indebt us to our own money.

Maybe you and I have read different histories of the Fed, but everything I have read proves that they were created in secret, yet gained unlimited control of a power Constitutionally given to Congress and are directly behind every crash of our markets.

We had a currency based on something real, i.e. gold and now we have a fiat currency based on whatever they say it's worth, with no actual value attached to it. Based on the Full Faith and Credit of the United States, which is under risk of further degradation. A total coup by a few bankers that have played us for suckers and made untold riches from it.

Federal Reserve is neither Federal nor a Reserve. It is a private banking cartel, nothing more. Given a power that is only supposed to be held by Congress.