Pete, he talks a good line but there isn't anything he can do to stop that legally.
Greg, certainly not. But if the company can't cut cost enough to compete in the market place then they are forced to close their doors. I just mentioned that as an option.
Someone mentioned cutting the pay for the board. You could do that and with the cost of labor they still wouldn't be able to compete. Now who do you want tossing a football for your favorite pro team? That multi million a year quarterback or just some guy making way less money? Same thing holds true with COE's and board members. You want someone running a company that you have invested in that isn't very good at what they are doing? Or do you want the best so you actually get a return on your investment?
Look at it this way. If Carrier's CEO is making 10 million a year and they get him to work for free applying that savings toward reducing the cost of their products. And to keep it simple lets say they sell 100K items a year. They can reduce the price of each unit 100 bucks. Now lets say the average worker is making 20 an hour. That works out to 58 million or so a year in wages plus unemployment insurance and bennies. Each item sold would cost about 290 dollar less. Cut it by 75% and that become 435 per item. That's huge. And 99 out of 100 people are going to buy from a different company that has already moved offshore if there is that much difference in price and Carrier would still go broke having a free CEO. Don't listen to what the politicians are saying. They just want your vote. They know what the bottom line is. And without massive tariffs on ANY imported goods nothing is going to change. And a massive increase like that would really crash the economy with the massive inflation it would create.
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Today's Featured Article - A Cautionary Tale - by Ian Minshull. In the early 1950s my father bought an Allis Chalmers B and I used it for all the row crop work with the mangolds and potatoes, rolling and the haymaking on our farm. The farm and the Allis were sold and I have spent a lifetime working on farms throughout the country. I promised myself that one day I would own an Allis. That time event
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