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Non-Tech : Kirk's Market Thoughts

COHR 178.34

-10.2%

Dec 12 9:30 AM EST

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To: GROUND ZERO™ who wrote (16785)	9/20/2023 10:40:50 AM
From: robert b furman	5 Recommendations Recommended By GROUND ZERO™ HD911 Kirk © robroy1 toccodolce Read Replies (1) of 26768

I can vouch for the frustration that thousands of retail dealership owners employees have with unions getting a pay scale that exceeds almost all the employees, shutting down the receipt of vehicles and parts need to keep customers going to work. For union employees to strike an employer, when non union competitors with similar workers (working for less money) it is a first step to running a company into bankruptcy. The UAW has a past track record of not caring. Ultimately they get a huge haircut when the government puts the car maker into receivership, and makes a dictate that allows the company to once again become profitable. It's just history at this point. The UAW auto makers all took big bailouts in 2008. Ford to a lesser degree, but they had previously outsourced their manufacturing much more than GM or Chrysler (who was bailed out twice). Thus had a much smaller union workforce. The UAW has been offered record large raises already. Don't get me wrong, they deserve a big raise as inflation has reduced their buying power and resulted in a lower lifestyle. That is not managements problem. If the unions are supporting Joe Biden (The friendliest president towards unions in history -barf), they need to look at who spent money for his constituents to the tune of trillions - which is why we ALL have inflationary penalties. The biggest failure of the Democratic Party is to choose winners and losers via pay increases. Teachers union and UAW etc. They just don't get that one can not take from one and give to another and please everybody! Real wealth creation is what has built our country's wealth - NOT WEALTH REDISTRIBUTION PLANS! Their elitism and a false belief in their superior intelligence which justifies them picking winners is the rot in their belief system. It never rewards all of the country. It does in fact destroy many sectors. Fossil fuel sector is a prime example of taking from a sector. The incredible waste of rebates for renewable energy and a false belief that EV's are the answer (and their purchase rebates to the wealthy) are classic examples of a huge misallocation of money into "chosen winners". It is more an evil plan to make energy so expensive that the lower income workers must rely on the Dems for sustenance handouts. The little guy who has a chance at becoming successful forfeits his opportunity to advance in life beyond the mere necessities. As Pelosi said "they're waiting for crumbs". Cat had a long and ugly strike and threw out the UAW long ago. They found new workers and are now a global premier maker of construction equipment. Their poorly timed acquisition of Bucyrus (which makes mining equipment) is about to payoff in aces and spades with all the new materials needed for the EV transition. Bucyrus was located in Milwaukee. Once Cat bought Bucyrus, many workers were furloughed and work was transferred to nonunion shops who moved next door to the now half empty plants. Cat learned how to throw out the overzealous unions and their excessive demands. They have since prospered in a globally competitive world. The case studies are there for both management and unions to find common ground with competitiveness being once again considered. It must be part of the equation or "Don't let the door hit you on your way out and onto the street", which is a catastrophic solution for thousands of good paying jobs. Rant over. Bob

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