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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: axial who wrote (108341)2/16/2010 9:07:56 AM
From: Hawkmoon  Read Replies (1) of 116555
 
consistently profitable at similar nickel prices just a few years ago.

Sorry.. I missed that little nugget.. I swore I read that the subsidiary was now unprofitable.. My bad!!

I would agree.. if they were profitable previously, and nothing significant has altered the mining operations, then hitting at labor costs should only be considered if management is willing to take the same percentage cuts.

Again.. I'm not anti-union, but I am against Union bullying and abuses that drive businesses into a non-profit status or to cheaper labor markets. My father once ran a 1/2 union shop at his drywall firm. He had to because if you didn't have union labor, you didn't get the big projects. But where he had flexibility to train and utilize his non-union staff (switching between hanging and taping), his union shop had to have a specialist in each field. Effectively made them non-deployable on non-union projects because they weren't cost effective on lower margin jobs.

There has to be a mutually beneficial relationship between corporate management and labor. Let management exploit and abuse labor and they'll screw you by doing a poor job, dragging @ss, getting "injured".. etc. And when management demands concessions from labor, they'd better be willing to match them on a percentage basis.

Hawk
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