Help Our UAL Friends

"Matt Barrow" wrote in message
...

"George Patterson" wrote in message
news:122Ye.8139$LV5.1123@trndny02...
Matt Barrow wrote:

They could not compete PERIOD. Their management was trained and brought
up
in the world a heavy regulation and was thus completely out of the water
on
running a competitive enterprise.

I think you've hit the main reason. As they grow, companies develop a
"corporate culture" caused by the fact that existing managers tend to
promote people who do things the same way they do. As time goes on, this
"culture" may get out of touch with reality. About the only thing that
will change it is a hostile takeover.


That's a large factor, but they also get n trouble earlier when they move
out of the enrapreneurial phase and past the growth phase and start hiring
"professional managers" instead of promoting from within. The
professionals are often the ones raised on regulation and bureaucracy.
They often do worse than those who learned the business from the ground
up.

A manager who came up with the company is more interested in seeing it
thrive; a "professional" (IME) is mainly concerned with making monthly
numbers, is risk averse and focusing on his bonus.

Look at any of the Fortune level firms that have been around for a hundred
years or more (P&G, for example) and you'll find very few high level
people brought in from outside the company.
--
Matt

Look further and you will find a once great airline that was more or less
taken over by hotel people and run into the ground.
Also notice that huge (then) golden parachute that one CEO got
when they let him go.
Also notice how they raided the IAM employees overfunded
pension fund for cash to buy another hotel chain.
....and on and on and on.

JK

"Jon A" wrote in message
...
On Tue, 20 Sep 2005 21:33:24 GMT, "Steven P. McNicoll"
wrote:


"Jon A" wrote in message
. ..

Unions are there to protect the working class from
unfair management practices, which unfortunately shows their true
colors.


What unfair management practices?

Ones that would be allowed to proliferate if no unions were present.
How about 14 hour work days with no breaks for starters? I really
don't believe that someone who is as learned as you appear to be would
ask that question. Check a history book if you want to know more.

Check an objective history book and you'll find that point is rather bogus.

Check further and you'll find that long hours were preferred by many unions
so as to generate overtime.

If businesses did what unions did, they call it collusion. In any endeavor
that unions claimed to have improved the workers situation, take a look back
in that same industry some ten to twenty years and you'll find that things
have already improved dramatically before unions ever showed up at the door.

A good example is so called "child labor", and as my friend says about it
:What do you think those kids were doing before they worked in factories,
playing "tag" all day?

"Jim Knoyle" wrote in message
...

"Matt Barrow" wrote in message
...


Look at any of the Fortune level firms that have been around for a
hundred years or more (P&G, for example) and you'll find very few high
level people brought in from outside the company.
--
Matt

Look further and you will find a once great airline that was more or less
taken over by hotel people and run into the ground.
Also notice that huge (then) golden parachute that one CEO got
when they let him go.
Also notice how they raided the IAM employees overfunded
pension fund for cash to buy another hotel chain.
...and on and on and on.

Proctor and Gamble runs airlines and hotel chains?


--
Matt

---------------------
Matthew W. Barrow
Site-Fill Homes, LLC.
Montrose, CO

sfb wrote:

Overtime after forty hours is a Federal Law.

Since when? I haven't seen overtime pay for over 15 years.

George Patterson
Give a person a fish and you feed him for a day; teach a person to
use the Internet and he won't bother you for weeks.

"George Patterson" wrote in message
news:fxfYe.9243$i86.3001@trndny01...
sfb wrote:

Overtime after forty hours is a Federal Law.

Since when? I haven't seen overtime pay for over 15 years.


Obviously he should have added ... except for certain exempt workers.

Where did Checchi get the stock? NWA.
How did he finance his takeover? NWA operating money.
How did he get paid before he bailed with his stock? Staggering management
fees payed by NWA monies - No, I didn't say profits.

I"m not familiar with the situation but it sounds like he used company
money to buy company stock as leverage? What a beautiful thing. The
only way that works out financially is if the company's assets (cash)
were not being used properly and someone found out that the money was
worth more than the company. The wonderful laws of nature kick in and
someone grabbed the money and moved it to somewhere it could work more
efficiently. That natural laws of nature do not allow companies to hold
assets inefficiently.

-Robert

There are exemptions in the federal law. If you think you are not exempt
from the law, you might want to do some research on the US Department of
Labor web pages at http://www.dol.gov/

"George Patterson" wrote in message
news:fxfYe.9243$i86.3001@trndny01...
sfb wrote:

Overtime after forty hours is a Federal Law.

Since when? I haven't seen overtime pay for over 15 years.

George Patterson
Give a person a fish and you feed him for a day; teach a person
to
use the Internet and he won't bother you for weeks.

sfb wrote:
There are exemptions in the federal law.

Thanks for the link. So, they passed that in '96. Can you tell me where to find
the exemption for salaried workers? I'm sure it must be in there somewhere.

George Patterson
Give a person a fish and you feed him for a day; teach a person to
use the Internet and he won't bother you for weeks.

"Matt Barrow" wrote in message
...

"Jim Knoyle" wrote in message
...

"Matt Barrow" wrote in message
...


Look at any of the Fortune level firms that have been around for a
hundred years or more (P&G, for example) and you'll find very few high
level people brought in from outside the company.
--
Matt

Look further and you will find a once great airline that was more or less
taken over by hotel people and run into the ground.
Also notice that huge (then) golden parachute that one CEO got
when they let him go.
Also notice how they raided the IAM employees overfunded
pension fund for cash to buy another hotel chain.
...and on and on and on.

Proctor and Gamble runs airlines and hotel chains?


For Christ sake, the subject is (was) UAL!
Pay attention. But thanks anyway for the good lead in
to something that has had me ****ed for over 20 years.

JK

"George Patterson" wrote in message
news:nhgYe.9252$i86.1969@trndny01...
sfb wrote:
There are exemptions in the federal law.

Thanks for the link. So, they passed that in '96. Can you tell me where to
find the exemption for salaried workers? I'm sure it must be in there
somewhere.



Try this one

http://www.dol.gov/esa/regs/compliance/whd/whdfs17.htm