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Titan International Inc. Message Board

  • WilliamECarey WilliamECarey Mar 20, 1999 2:09 PM Flag

    Titan Fundamentals

    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.

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    • your just an idiot charlie brown! don't you think captain morry owns any titan stock? daaaaaahh ugh!

    • your just an idiot charlie brown! don't you think captain morry owns any titan stock? daaaaahhh ugh!

    • 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.
      Jason -
      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.

    • Go morry, Break the union. Send the jobs to someone who wants to work.

    • Char:
      Corporations work like this:
      The CEO
      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
      decision that
      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.
      Since Titan
      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
      question your
      ability as a judge.You seem to turn a blind eye
      and a
      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
      calls members
      "socialists" and "mafia types"
      This is a free country
      because many americans have
      risked their lives to
      keep it that way including union members.
      To call
      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
      their jobs?)
      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.
      Good luck
      to you all, because I fear you've created a
      lose/lose situation without hope unless you begin to act
      more responsibly.

      • 2 Replies to over_menzion
      • Yo- over,
        How do you bargain with some one
        who the Judge, not the Union, says is bargaining in
        bad faith.

        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
        carbonblack handling
        equipment. With that outdated surplus
        equipment you will
        sure need a large parts store and a well
        machine shop.
        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
        pass on
        the email address so you can get the vidio.

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