Warren Buffett Saves America

[Parsad]

...in Ralph Nader's new book!  Cheers!

 

http://www.cnbc.com/id/33019473

[Hawk4value]

Unionize Walmart!!!  Is that Nadar's solution for America.  I guess Ralph has already forgotten that Unions played a big part in bankrupting GM and Chrysler.

[nodnub]

Unionize Walmart!!!   Is that Nadar's solution for America.   I guess Ralph has already forgotten that Unions played a big part in bankrupting GM and Chrysler.

 

I am not a fan of unions in their present incarnation and I hope to never have to work for one. They stifle innovation, prevent the advancement of the able, and make it hard to get rid of bad workers. With that said, I still think they have an important role in our society.

 

I do not think unions are to blame for GM and Chrysler's problems. The job of a union is to always push for greater worker benefits. The job of management is to push back and make rational compromises that will serve the business well in the long term. GM and Chrysler were bankrupted by weak and shortsighted management from the glory days of those companies that agreed to the union demands for "Cadillac" class health plans for their workers and too many other labour restrictions, preventing those businesses from showing flexibility in the face of adverse conditions.  In some cases, perverse government incentives and tax credits have further exacerbated the problem.

[Guest kawikaho]

They also prevent abuse of workers.  I don't know how old you are, or how long you've been working, but I think unions balance out greedy corporate behaviour.

[value-is-what-you-get]

 

I am not a fan of unions in their present incarnation and I hope to never have to work for one. They stifle innovation, prevent the advancement of the able, and make it hard to get rid of bad workers. With that said, I still think they have an important role in our society.

 

I do not think unions are to blame for GM and Chrysler's problems. The job of a union is to always push for greater worker benefits. The job of management is to push back and make rational compromises that will serve the business well in the long term. GM and Chrysler were bankrupted by weak and shortsighted management from the glory days of those companies that agreed to the union demands for "Cadillac" class health plans for their workers and too many other labour restrictions, preventing those businesses from showing flexibility in the face of adverse conditions.  In some cases, perverse government incentives and tax credits have further exacerbated the problem.

 

Agree on all points.  Another contributing factor to GM and Chrysler problems was the "short-termism" practiced by those running the companies.   The unions pushed for a better and better deal for their members and management acquiesced on some really expensive long term plans so as not to disrupt this quarter's or next quarter's production numbers/deliveries.  Well that all came home to roost as we have seen.  Short term gain for long term pain.

[nodnub]

They also prevent abuse of workers.  I don't know how old you are, or how long you've been working, but I think unions balance out greedy corporate behaviour.

 

I agree - I intended that to come across as one aspect of my comment.

 

[SharperDingaan]

 

When you run the coy, a union is a terrible thing. Like the law they stop you from doing whatever you want; but unlike the law, they do it in live time & can shut your plant down immediately.

 

When you flip coys for living, unions are anathema. They prevent the more extreme corner cutting that maximizes earnings, & can kill your deal by suddenly striking; i.e. they take away your control to gouge the buyer.   

 

When you own the coy, a union is a good thing. It forces your management to unlock the potential of your work-force (the intangible ‘value’ in your coy), & gives you a bargaining chip when you need industry changes.

 

When you work for the coy, the union is often a good thing. You get the funds to upgrade your skills, & stay current; but if you don’t like the environment you’re free to leave. You’re also forced to save via a pension plan.

 

If you choose to ‘war’ with your workforce, your competitors win & your owners hedge their holdings via shorting. Eventually the plants go out of business, management & the workforce lose their jobs, the community loses some of its tax base, & the owners walk away unharmed. 

 

Always think about whom is doing the talking.

 

SD