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Varchild2008 (85.21)

Small Shareholder speaks out against RWDSU

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September 04, 2010 – Comments (6) | RELATED TICKERS: DPS

You have got to be kidding me!   After over 3 months of striking and throwing leaflets around and gathering letters from New York State Congressman and so on....  They finally get a sit down with Dr. Pepper Snapple Group (DPS) and DPS offers them the same $21 a hour wage + keep most of their benefits in tact...albeit the 401K does take a cut to 2 percent matching.

And the RWDSU's response?  After pretty much getting everything they wanted?  Their response is that they would rather be unemployed!   They said no to this contract deal!  unthinkable.

Bottom line is that we have a 9.6% unemployment rate and the leadership of RWDSU and its members would rather choose unemployment rather than a $21 an hour pay check with some
401K matching + health care benefits.

If RWDSU is so interested in giving up their jobs so that others unemployed can have them then I guess that is more like CHARITY than anything else.

This is why Shareholders tend not to like unions.... If there is no union within a business then the business can better respond to the economic realities which go above and beyond past profits and revenue...  Does RWDSU not care what the impact to the OBAMACARE bill may be having on Dr. Pepper Snapple Group?  Or the Financial Regulation Bill's impact?  Or the impact of tax hikes on the wealthy and on small businesses coming in January?

There is an awful lot of headwinds in front of companies like DPS and to sit there and ignore all that thinking that past profit performance is all that one needs to look at..... well....no.....    Businesses have to account for the FUTURE.... Any good CFO has to weigh Federal Government Policies and determine years out into the future what their expenses will look like.

I am willing to bet this never would have happened if we didn't have Barack Obama as President of the United States pushing uncertainty onto the Balance Sheets of Companies of the United States of America.

BOTTOM LINE:   RWDSU Unions voted themselves out of a job.  Just as America did in 2008.

6 Comments – Post Your Own

#1) On September 04, 2010 at 1:16 PM, tomlongrpv (71.15) wrote:

Yes, the economy was so much better under Bush and we weren't creating unsutainable bubbles with poor financial regulation.  Nor were we wasting money on wars against enemies with fictional weapons of mass destruction.  Oh wait, we WERE doing all of those things.  Hmmmmm.

Your other point must be that the real value of companies is in the top 5 or 6 executives who get paid a King's ransom every year.  The hell with those piss ant little union people who think they are worth as much as 1/1000th of the executives.

I have an alternative theory for you:  the high paid executives are the ones who are not worth that much and who are ripping you off as a shareholder.  The real value of the company is those who actually deliver the service not those (who as the boss reality shows demonstrate) don't know much at all about the services or even the about the peons working under them.

 

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#2) On September 04, 2010 at 9:42 PM, Varchild2008 (85.21) wrote:

4 to 5% unemployment rate under Bush for 2 years+.

Unemployment and the economy was excellent under Bush up until the Democrats took over Congress in 2007 and subsequently raised the minimum wage rate as their first act in Congress.

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#3) On September 05, 2010 at 2:37 PM, tomlongrpv (71.15) wrote:

I don't think what we are going through now is a short term prouct of a minimum wage increase.  It is the long term product of lack of regulation of financial markets coupled with wasteful spending on defense and unnecessary wars.  Indeed I haven't seen any conservative commentators make your argument.  Have you? 

Interesting how under Bush One the conservatives looked back over 10 years to blame everything on Carter.  Now when things collapse in late 2008 it is somehow the Democrats who did it by taking over Congress at the tail end of 2007.  Just amazing how slow things move sometimes and how quickly they move at others.

The "excellent" economy under Bush Two was just a giant housing and financial bubble that finally burst on its own and we are now seeing the consequences.  It was "excellent" in the same way that you feel "excellent" after 4 or more  drinks.  The people who wake you up the next morning are not the right ones to blame for the hangover though.

Finally I wonder as a percentate of company earnings, who is ripping us shareholders off more?  Unions with unreasonable rules, etc. or overpaid executives?  I am not sure I know but I do want to find out.

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#4) On September 05, 2010 at 10:05 PM, anfrogfiuchta (< 20) wrote:

Ranting about the evils of labor unions and the Obama administration only distracts from the reality of this situation. This DPS plant is unionized and the firm needs to deal with that reality, as best it can, without taking decisions that will harm results or brand image in the long-term.  Looking at what the firm offered in its latest proposal, I don't see how management can justify its confrontational approach to shareholders.

DPS has now gone three plus months of using temporary replacements at the facility and resorted to using co-packing (mentioned in the latest earnings call).  A quick look around social media sites (Twitter, Facebook, etc.) shows that DPS's brands are being constantly attacked.

Local management appears to have misread its ability to extract concessions and executive management appears to have let this linger on too long.  As DPS's brands get dragged through the mud, shareholders need to ask why should this continue when the potential benefits appear so small.

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