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Business, Economics, and Taxes: Capitalism. Yay? >=(

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Sounds like workers were majorly concerned about basically having a two-tiered contract, where current employees get things like pension contributions and a higher wage but any new hires get nothing pension wise and a lower wage.

Sounds like there was already a split into tiers, a pre-97 and a post-97, and Deere was proposing a further split.
https://theintercept.com/2021/10/17/john-deere-strike-labor-market/

Honestly, expect this to keep happening. You don’t tell workers that they’re “essential” on one hand and continue to lowball them on the other.
 
Jimjamesak said:
Sounds like workers were majorly concerned about basically having a two-tiered contract, where current employees get things like pension contributions and a higher wage but any new hires get nothing pension wise and a lower wage.

Sounds like there was already a split into tiers, a pre-97 and a post-97, and Deere was proposing a further split.
https://theintercept.com/2021/10/17/john-deere-strike-labor-market/

Honestly, expect this to keep happening. You don’t tell workers that they’re “essential” on one hand and continue to lowball them on the other.
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So basically, what the auto companies did to them 15-20 years ago.
 
FadeToBlack&Gold said:
So basically, what the auto companies did to them 15-20 years ago.
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Pretty much. Problem this time is the workforce is trending largely toward Millennial age workers and “fuck them, you got yours right?” doesn’t work like it use to because a) Millennials generally abhor that attitude and b) because Millennials haven’t really ever gotten “there’s”.

Given this, it doesn’t surprise me that the contract offer was rejected. C-Suite executives have long been out of touch not realizing Millennials are now in their 30s and the brass at the UAW undoubtedly suffer the same mindset. Couple that with a prime opportunity for workers to have leverage and here we are.

tl;dr Leadership on both sides are idiots and it’s not just about money, and the press can’t comprehend things not just being about money.
 
The only question I have is this: Is John Deere really gonna be able to find scabs? These factories don't seem to be in hugely populated locations and it's likely the amount of money they'd have to offer in wages would be counterproductive (in the sense that the wages would have to be so high to compensate for the lack of security, lack of benefits, and crossing a picket line on top of the current labor market)
 
Jimjamesak said:
The only question I have is this: Is John Deere really gonna be able to find scabs? These factories don't seem to be in hugely populated locations and it's likely the amount of money they'd have to offer in wages would be counterproductive (in the sense that the wages would have to be so high to compensate for the lack of security, lack of benefits, and crossing a picket line on top of the current labor market)
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Was thinking the same thing. I don't know what Deere is going to do. That said...... they're nearing the end of the crazy season where they have guarantees about returning machines to service. Not sure how that plays into this.
 
On a totally different note: Sinclair Broadcasting has over $12 billion in debt.

Turns out buying a huge network of Regional Sports Networks whose rights you can't easily transition into a streaming service is a bad idea. Also doesn't help when a Russian hacker group almost completely shuts down the ability to advertise on most if your stations.

Couldn't have happened to a nicer company.
 
Jimjamesak said:
The only question I have is this: Is John Deere really gonna be able to find scabs? These factories don't seem to be in hugely populated locations and it's likely the amount of money they'd have to offer in wages would be counterproductive (in the sense that the wages would have to be so high to compensate for the lack of security, lack of benefits, and crossing a picket line on top of the current labor market)
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I dunno but the longer it goes the more likelier it is. We shall see...
 
Handyman said:
Considering Starbucks coffee is crap...the only impact is if you can actually choke it down.
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Their lemon poppyseed loaf is to die for. mookie goes in to get a couple of those to last a day or two with the coffee at home he awakes to (except no poppy seeds here in the loaf)
 
Jimjamesak said:
The only question I have is this: Is John Deere really gonna be able to find scabs? These factories don't seem to be in hugely populated locations and it's likely the amount of money they'd have to offer in wages would be counterproductive (in the sense that the wages would have to be so high to compensate for the lack of security, lack of benefits, and crossing a picket line on top of the current labor market)
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Also the training costs for hiring just anyone right of the street to replace people who've been doing that job for years.
 
Big news day so far this morning.

GE to break itself into three separate companies: gE Aviation, Healthcare, and GE Energy (and technology). Plan is to spin off Healthcare first by 2023.

And Comcast is having nation wide outages, most severely affecting the Chicagoland region this morning.
 
I don't understand why a company would break itself up like that. I'm happy to see smaller companies, but don't understand why a board would vote for that.
 
dxmnkd316 said:
I don't understand why a company would break itself up like that. I'm happy to see smaller companies, but don't understand why a board would vote for that.
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HP did it because the computer & printer division was a long-term burden. Everyone is buying mobile devices and moving into cloud computing architectures, the latter of which is now HPE's focus (along with re-selling hardware & software that supports cloud). HPE then further spun-off most of its consulting services to CSC, which rebranded as DXC Technology.
 
aparch said:
Big news day so far this morning.

GE to break itself into three separate companies: gE Aviation, Healthcare, and GE Energy (and technology). Plan is to spin off Healthcare first by 2023.

And Comcast is having nation wide outages, most severely affecting the Chicagoland region this morning.
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Too bad it wasn't four companies, or else Q could have had a field day about GE being the Four Horsemen of the Apocalypse and the org responsible for providing child sex slaves to elites under the guise of providing electricity to local pizza restaurants, or whatever.
 
dxmnkd316 said:
I don't understand why a company would break itself up like that. I'm happy to see smaller companies, but don't understand why a board would vote for that.
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To eliminate the chaff.

I wish there was a lot more of this to be honest. Everyone is consolidating stuff that doesn't need consolidation.
 
ScoobyDoo said:
To eliminate the chaff.

I wish there was a lot more of this to be honest. Everyone is consolidating stuff that doesn't need consolidation.
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Consolidation with a chance of monopolization. Fewer choices = less innovation, higher prices. I love when the mega-mergers of companies happen, like Sprint/T-Mobile, and their rationale provided is “Faster service, more competitive prices!” No, fuckwads. Quite the opposite. We’re further along on this sh-tty path of consolidation than we ever were during the Gilded Age of 100 years ago. Andrew Mellon has little on Mark Zuckerberg, Elon Musk, etc. I guess at least none of them have been officially put in charge of the Treasury Department…yet.
 
It will be interesting to follow what happens to the GE Research Center in Schenectady (complete with an original Thomas Edison desk). It's a centralized org for basic research - think Bell Labs back in the day. Each division of GE contributed some percentage of revenue or OI (can't remember which) to fund it, and then all divisions benefitted from the research done there. The percentage of contributions was small, but across an $80-100B company, it added up to more than a billion dollars of basic research. Not sure how you split that golden goose three ways...
 
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