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Titan International Inc. Message Board

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  • bslg211 bslg211 Aug 28, 1998 2:22 PM Flag

    Strike 3

    Any time I can buy a company this good at book
    value I will do it. I personally feel there is some
    more down side potential because of the overall market
    conditions, third quarter earnings and slow down in
    agricultural sales because of lower commodity prices. However,
    the 3 to 5 year upside potential is so great. I have
    to buy in the 11's while its close to book value.
    Management realized there would be an earnings drop and
    could not offer the union any more. Whatever my
    personal support is for unions the best thing for
    shareholders of this company was to break the union. The
    company is taking advantage of weakness in foreign
    markets to buy up companies which fit into the growth
    plan for this company.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • If its really good for the shareholders to break
      the union, I assume it would be equally good for the
      shareholders of your company to cut your wages in half and
      take most of your benefits. Or would you say "Wait a
      minute, not me, I earn my pay." If you own the shares of
      a company that makes money off the back of its
      workers it may be good for you but what about
      shareholders as a whole. How many new cars do people making $7
      or $8 an hour buy. How many washmachines from
      Maytag. How many airplane tickets do they buy so pilots
      can draw a good wage. How many let their auto
      insurance lapse because they can't afford it. How many new
      homes. Lets forget unions for a moment. How many people
      in white collar jobs have been downsized,
      rightsized, re-engineered, out-sourced, etc. All in the name
      of the bottom line. Its good for the first ones that
      do it because the market is still there. But its
      like a chainletter - it runs out. If you invest
      regularly you better pray to God that people can afford the
      products of the companies you're investing in or you'll
      lose your you know what. And if the majority of the
      companies in the tire business can pay decent wages and
      benefits why would anyone invest in a company that is
      incapable of operating on a level playing field. As for
      myself, I'm leaving the company to work in a tech field
      because I was fortunately blessed with the ability to do
      so. But I feel sorry for those who can't make that
      choice. If the least among us are willing to work hard
      all day to produce products we use, then we owe them
      a wage that provides a minimal basic living, not
      slow starvation. Especially for their kids. I have
      invested for many years but I have no desire to make my
      money by beating the hell out of someone who can't pass
      an 8th grade basic skills test but is willing to
      show up everyday and work hard. I believe the queen of
      France once had the same idea - "Let them eat cake" -
      Look where that got her. Czar Niclolas tried to ignore
      the problem in hopes it would go away. Look where it
      got him. Use your heart a little more and start using
      your head for something besides a hat rack. I'm all
      for capitalism but unbridled it can be a recipe for
      disaster.

 
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