Thursday, October 29, 2015

Where have the working poor come from? Companies like Cooper Tire.

Let's start here. Blanch Lincoln was US Senator for Arkansas since 1999. She lost her bid for re-election in 2010.

Zacks upgraded shares of Cooper Tire & Rubber Co (click here) (NYSE:CTB) from a hold rating to a buy rating in a research note released on Tuesday morning, Market Beat.com reports. The brokerage currently has $48.00 target price on the stock.
According to Zacks, “Cooper Tire’s second-quarter 2015 earnings per share increased year over year and surpassed the Zacks Consensus Estimate. Revenues fell year over year, but outpaced the Zacks Consensus Estimate. Results were backed by strong unit volumes in the Americas segment, partially offset by weakness in international operations. The decline in revenues resulted from the sale of interest in CCT. Cooper Tire aims to attain operating profit over 10% and net sales of $5–$6 billion per annum in the long term.   The company is benefiting from its high-performance products, share repurchases and improving business operations. However, the loss of ownership stake in CCT, high competition, pressure from cheaper imports and fragile global economic conditions pose concerns. “

December 16, 2011
By Mischa Gaus

Steelworkers locked out at a Cooper Tire plant in Ohio (click here) are raising the alarm as scabs move in to start building tires.
The conflict at Cooper’s Findlay plant, where 1,050 Steelworkers build replacement tires for pickups, stems from new machinery the company recently introduced. Tires are mostly hand-built, but the equipment cut a step out of the process....

...The Steelworkers are incensed by the lockout because the union gave back $31.2 million in concessions in the last contract and because the union had helped manufacturers like Cooper by lobbying successfully for a tariff on Chinese tires.
The tariff curtailed imports, boosted Cooper’s profitability, and allowed it to buy the new equipment, the union says. Cooper, which produces tires in China, did not join the call for the tariff—but now says its expiration next year mandates another round of concessions.
The company wants a five-tier wage scheme, no defined-benefit pensions for new hires, and no health care coverage for future retirees. Cooper made $302.4 million in profit between 2009 and September 2011.
Cooper workers make most of their money from an incentive system, said James Gutierrez, a steward and member of the civil rights committee... 

Democrats need to get a clue. The Middle Class has disappeared on issues of poorly paid wage labor. The Unions have been demonized by the Republicans and the so called Free Trade Agreements have been promoted as a jobs maker by the Republicans. THAT IS NOT THE TRUTH. These trade agreements are casting the American worker into poverty.

Republicans are Wall Street and not Main Street. The trade agreements have put the unions at odds with their own memberships. This is ridiculous. The American landscape is a huge economic engine that every country in the world wants a piece of. Why do they want a piece of the USA? Because otherwise the countries would have to build their own Middle Class. That means foreign laborers would have regular work hours with a fair wage to build a demand for products. Buildings would not be collapsing and the people would be empowered to demand a better quality of life. 

The trade agreements break down the quality of life of Americans without building a middle class in partner countries. Those foreign workers live in squalor and do not have disposable income to be a trade partner.

The USA trading partners should have an existing Middle Class. It is a standard we can all live with. 

I might point out the biggest abuser of quality of life abroad is the IT sector.

May 10, 2010
By Lori Robertson

...A Cooper Tire employee says (click here) in the ad that workers would not have had to agree to concessions "had Ms. Lincoln not voted for all those unfair trade deals." He says, "Those deals made it impossible for American workers to compete" and cites NAFTA, the Central American Free Trade Agreement and a trade deal with China....
The Steelworkers are incensed by the lockout because the union gave back $31.2 million in concessions in the last contract and because the union had helped manufacturers like Cooper by lobbying successfully for a tariff on Chinese tires.
The tariff curtailed imports, boosted Cooper’s profitability, and allowed it to buy the new equipment, the union says. Cooper, which produces tires in China, did not join the call for the tariff—but now says its expiration next year mandates another round of concessions.
The company wants a five-tier wage scheme, no defined-benefit pensions for new hires, and no health care coverage for future retirees. Cooper made $302.4 million in profit between 2009 and September 2011.
Cooper workers make most of their money from an incentive system, said James Gutierrez, a steward and member of the civil rights committee.
- See more at: http://labornotes.org/2011/12/after-union-bails-out-cooper-tire-company-locks-workers-out#sthash.zVjrOng1.dpuf
Steelworkers locked out at a Cooper Tire plant in Ohio are raising the alarm as scabs move in to start building tires.
The conflict at Cooper’s Findlay plant, where 1,050 Steelworkers build replacement tires for pickups, stems from new machinery the company recently introduced. Tires are mostly hand-built, but the equipment cut a step out of the process.
- See more at: http://labornotes.org/2011/12/after-union-bails-out-cooper-tire-company-locks-workers-out#sthash.zVjrOng1.dpuf
Mischa Gaus

Mischa Gaus