Since the first strike began in April of 1998,
Titan shareholders have seen the value of their
investment decline by 63%. Titan just reported its first
quarterly loss in over six years; �Titan�s stock price is
down 63% since the strike began, a reduction of the
company�s equity market capitalization of $248 million;
�Titan�s Brownsville plant � long promised as central to
its future plans � is today no more than an empty
building; and �The National Labor Relations Board recently
rejected Titan�s plan to use permanent, non-union
replacement workers. �The consequences of Titan�s
worker-hostile strategy Since May 1, 1998, the S&P 500 index has
returned 11% (as of March 1, 1999). Goodyear, a prominent
Titan competitor, lost 31% of its value over this
period. But this is nothing compared to the toll Titan
management has taken on its shareholders � a 63% destruction
of value in just 10 months.Looked at another way,
Titan�s owners have to date contributed $248 million to
the company�s futile war against its employees.
Menzion - averaging down by the general public is
a useful tool.
Insiders have to be very careful
so that there is no appearance of manipulation of
stock prices in order to create buying opportunities
for themselves. The SEC frowns on that.
the jobs are already going somewhere else - Firestone
where 200+ Titan employees now have jobs making a lot
better money and benefits than Morry is willing to pay
and I hope that's where those jobs stay. It's better
for the workers and its better for the community as a
whole because they can afford to buy cars, homes, etc
in the local area where it benefits everyone.
bslg - I always get a kick out of people like you who
think working people are low level and think the air
they breath is a little bit better. Right now, where
your head is at, it must stink to high heaven.
Corporations work like this:
cannot approve a purchase for a million dollars. He must
have the approval of the Board of Directors, and they
will require full disclosure. You can bet that they
knew everything that you don't about the
Stock pricing works like this:
When the price goes
down, you don't lose anything until you sell. If you
think the basics are right, we call a price decline a
buying opportunity! (i.e. dollar cost averaging) Mr.
Soave apparently completed this lesson and has been
doing this since January. So what does this mean to
you, as a union member who hates guys with
It works like this:
When earnings come back up
(and they will), take the multiple of 15-20 times
earnings, make that the new stock price, and subtract the
$7-$8 a share Mr. Soave and other insiders have paid,
thanks to your strike. The net effect of your strike?
You went a year without wages, and Mr. Soave put the
difference you just calculated in his pocket. Get it? You
made nothing, they make millions, and you think YOU
This works to your benefit HOW?
bslg211 Don't shoot yourself in the foot while it
is caught in your mouth. You were telling us what a
smart fella Morry was for causing the strike at the
right time so that he could avoid paying unemployment
benefits. "Wrong" we got the benefits. It looks like even a
low level local union member knows more about whats
going on than you do.
You have been hyping this
stock just because of some insider buying but one of
the two insiders has lost money and the other has
made a little. It look like they have a hard time
figuring out where Captain Morry is taking the Titanic.
The Captain claims the union is the iceberg that is
sinking the bottom line on the Titanic.Yet Captain Morry
is going full ahead with little or no regard for the
consequences of his actions.
Uhmmmmmmmmmmmmm!!!Who do I believe? The low level
local union member that is being sacrificed for
national agenda or the insiders buying up this stock. I
think I'll go with the insiders. The union really shot
themselves in the foot on this one.
Morry Taylor is the CEO and the man to make the
Titan needs a house. The question is why
did the ownership go
from the bank to Morry for
$165,015 and then to Titan for
$1,000,000. I got an
answer. $834,985 profit for Morry .Just a
finders fee right!!! One phone call to a real estate
agent could find out what the average selling price of
in that neighborhood is.
become a publicly traded company, Morry has
involved in a large number of transactions and I have to
wonder how many times us shareholders have paid a
finders fee on top of his salary.
If this doesn't
raise a red flag for you, then I would
ability as a judge.You seem to turn a blind eye
deaf ear to anything that doesn't fit your
You are mistaken about the unions intent or my
I am only a union member,but it is my firm belief
that it is
Morry Taylor who out to destroy the
union membership even if
Titan suffers because of
his refusal to bargain and instead
"socialists" and "mafia types"
This is a free country
because many americans have
risked their lives to
keep it that way including union members.
someone names like this after they have put their
on the line is about as low as you can get.
Hey over_:It looks like another bone head play by
the Grizzz is gonna sock the stockholders again. The
strikers get unemployment back to May. How much of your
money are you gonna let Taylor blow. Show some
fiduciary responsibility and tell the Grizz to bargain
seriously with the UNION. Stop throwing good money after
bad.Titan loses appeal on union unemployment benefitsDES
MOINES, Iowa (April 1)--The Iowa Unemployment Appeals
Board April 1 upheld a previous decision to allow
unemployment benefits for some striking Steelworkers at Titan
Tire Corp.�s agricultural tire plant in Des Moines.
The company appealed a state agency�s decision to
grant the benefits and then an administrative law
judge�s ruling backing the initial award. USWA Local 164
filed for unemployment for its workers, who have been
on strike since May 1, 1998, last summer after Titan
sent letters to members saying they would be replaced
if they did not return to work.
Char164, Grzadms, Mr Carey, and all of the other
alias for those of you who are so obviously members of
local164 laying forth the wasted propaganda on this site
may all be interested that I took time yesterday to
go through all of the information put forth on your
local's website, on the references you've listed here,
and in the information Titan has on it's website. I'm
Apparently, your local leadership has never
had any training in negotiating, because the most
basic principle I learned was to structure win/win
situations. Your leadership has attempted in every press
release and statement to put this forward as a win/lose
situation...i.e. The Griz is a Chicken. Jeez, I don't think you
really want this thing settled.
I also think you're
blowing smoke about much of your information. I've had
1000 shares of Titan since the first week of January,
and I have not received a letter or a videotape from
the union. DesMoines to Alabama isn't that hard to
do, even for the USPS! Has anybody else on this site
who owns stock seen these items?
Most of the sites
I visited from your postings were pure propaganda,
and except for the realchoice site, I suspect were
printed from information supplied by the union, not from
a journalist doing his homework. My questions are
Do you union guys really want the strike settled?
What efforts are being made to put in a positive light
your movements to that effect? Why not stop the
childish, Harry HighSchool zingers and putdowns, and treat
the company as a real equal in your communications?
Have you been honest with your members about the goal
for the strike? (It's apparent to outsiders that you
don't want to settle, you want Morry Taylor out of the
business. Have you told your members what that means to
My opinion here is that this strike
won't be settled, and it won't be because Titan's CEO
wants to break a union, it's because the union never
entered into serious negotiations. If you appeared in
front of my bench, I'd enjoin you (both sides!) from
any form of communication that belittled the other
side, and I'd demand progress reports showing serious
proposals receiving serious consideration. The union side I
saw this weekend didn't show that effort, and nothing
I saw on Titan's website was nearly as venomous as
what I saw on your site. Shame on you, I have a two
year old nephew who has fewer tantrums.
to you all, because I fear you've created a
lose/lose situation without hope unless you begin to act
How do you bargain with some one
who the Judge, not the Union, says is bargaining in
The judge wrote that Titan�s
violations "prolonged and converted the [Des Moines] strike,
which began� as an economic strike, into an unfair
labor practice strike on May 14, 1998." The judge
ordered Titan to: �reinstate insurance benefits for
affected workers; �restore production levels at Des Moines
to what they were when the violations began on May
14; �provide the union with necessary bargaining
information; �revoke the imposed "last best and final" offer;
�bargain in good faith; and �offer full reinstatement to
union members when an agreement is reached.
Shame on you for being so misinformed.
Can be read at this link
The photo of the $165,015 house that morry sold to
the shareholders for $1,000,000 can be seen at this
Other recent news at our local web
over_menzion, You can call, write or email local 164 and
the video.From your postings I personaly think that
you are too
biased to give a fair opinion of what
you see . another reason
is that anyone who isn't
familiar with a tire factory could look
at the video
and not see the missing items like overhead lighting,
conveyer belts, electrical conduits, air lines,
steamlines, treadbooks, a large premanent powerhouse to
air and steam, tire racks or forklifts. A tire
factory needs to
mix its own rubber and you need
banbury mixers,pelletisers and
equipment. With that outdated surplus
equipment you will
sure need a large parts store and a well
I don't see any ventilation systems and
I have seen 110
degrees in the Des Moines plant
with ventilation, I pity anyone
working through a
hot summer in Brownsville without a good ventilation
a union official saw your post and asked me to
the email address so you can get the vidio.