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???????
The natchez workers join the Des Moines workers in receiving unemployment compensation.This will take pressure off of any workers to cross the picket line. The job market is tight in natchez, but close to half of the Des Moines workers are employed and still find time to picket Titan. Over 150 are employed at the Firestone tire plant in Des Moines and this plant builds the same type of products as Titan. I heard the plant in Brownsville did'nt have a boiler to make steam yet and you can't cure tires without it. Titan purchased the land and buildings in Des Moines from Pirelli for 20.3 million on the 12/31/98.Titan already owned the equipment at the tire plant. Meetings between the company and union are taking place but they have a long ways to go to get an agreement.