For me to use to make my point.After getting called on my statement,which I made from memory, I did some research. I was wrong to say Cat was almost bankrupted.The union employees suffered more of setback than Cat.No one Called me on the GM example I used. The point I was making Is That It's risky to try and break the employees instead of being fair with them. The union workers at Des Moines and Natchez are facing Titan's union busting efforts and would be in a serious bind if it wasn't for the support from the USWA workers around the country. Titan's stock would probably go up 50 percent in a short span if they settle with the union and much more when the farm economy picks up.There isn't any hopes the strike will be settled any time soon.
The union strike couldn't have happened at a better time. With the slowdown in the agricultural sector Titan would have had to lay off employees and pay them unemployment pay. But since the union went on strike it saved Titan from having to lay off and then pay unemployment. That Morry is a pretty smart fella!
An Iowa court recently upheld the payment of unemployment to the Titan strikers. According to the story I read, benefits were awarded as early as last August and will be paid into 1999!!!!! Why weren't we shareholders informed about this??? Also, Titan's web page says that production at Brownsville was to start in 1998. It's now 1999--I haven't received any information from the company or read anything saying how the start-up is going--OR is it going?? What is the management of this company doing? Is the strike an excuse for bigger problems???????