Teamsters Attempt to Oust FedEx's Fred Smith
09-29-2010, 06:01 PM
#12
With The Resistance
Joined APC: Jan 2006
Position: Burning the Agitprop of the Apparat
Posts: 6,191
09-29-2010, 06:07 PM
#14
With The Resistance
Joined APC: Jan 2006
Position: Burning the Agitprop of the Apparat
Posts: 6,191
No reason for anger, just another chapter in the human comedy. It is always amusing to see what people will buy into, rather like the whole genre of late night TV paid advertising.
Just a pricey Chia pet, with no practical application.
History repeats itself without learning and Trotsky will end up with an ice axe in his head once again.
Just a pricey Chia pet, with no practical application.
History repeats itself without learning and Trotsky will end up with an ice axe in his head once again.
09-30-2010, 02:39 AM
#16
Gets Weekends Off
Joined APC: Aug 2006
Position: 1559
Posts: 1,535
I found the following article on humanevents.com. It seems that if the Teamsters can't convince enough drivers to unionize, they'll try ousting Fedex CEO Fred smith from running the company he founded, by a back-door attempt using stock shareholder proxies.
Very interesting tactic, eh?
Very interesting tactic, eh?
09-30-2010, 08:50 AM
#17
Gets Weekends Off
Joined APC: Nov 2009
Posts: 5,244
No reason for anger, just another chapter in the human comedy. It is always amusing to see what people will buy into, rather like the whole genre of late night TV paid advertising.
Just a pricey Chia pet, with no practical application.
History repeats itself without learning and Trotsky will end up with an ice axe in his head once again.
Just a pricey Chia pet, with no practical application.
History repeats itself without learning and Trotsky will end up with an ice axe in his head once again.
You're right, history does tend to repeat itself. However I don't want to suffer (or see the rest of the country suffer for that matter) while they figure it out.
09-30-2010, 10:30 AM
#18
Gets Weekends Off
Joined APC: Apr 2007
Position: Ending the Backlog one claim at a time
Posts: 486
Recent SEC rules change
Prior to the SEC rules change, all non-voted shares were counted as "No" votes. Under the new rules, only the voting shares are counted and the non voted shares discarded. Thus, fewer "yes" votes are required for a motion to pass because there's a much smaller denominator to overcome.
09-30-2010, 10:54 AM
#19
With The Resistance
Joined APC: Jan 2006
Position: Burning the Agitprop of the Apparat
Posts: 6,191
I just find it amazing that people would try to take away what he built. It's another instance of the socialist idea of the redistribution of wealth. But that is a whole other thread on it's own. When did we become so tolerant to Socialist/Marxist agendas?
You're right, history does tend to repeat itself. However I don't want to suffer (or see the rest of the country suffer for that matter) while they figure it out.
You're right, history does tend to repeat itself. However I don't want to suffer (or see the rest of the country suffer for that matter) while they figure it out.
It has been a long time since unions made public statements just like bolsheviks, but tough economic times tend to bring such things out of the woodwork.
Prior to the SEC rules change, all non-voted shares were counted as "No" votes. Under the new rules, only the voting shares are counted and the non voted shares discarded. Thus, fewer "yes" votes are required for a motion to pass because there's a much smaller denominator to overcome.
09-30-2010, 07:00 PM
#20
Gets Weekends Off
Joined APC: Oct 2006
Posts: 276
I found the following article on humanevents.com. It seems that if the Teamsters can't convince enough drivers to unionize, they'll try ousting Fedex CEO Fred smith from running the company he founded, by a back-door attempt using stock shareholder proxies.
Teamsters Attempt to Oust FedEx Founder & Chairman Fred Smith from Co.
Posted by LaborUnionReport (Profile)
Monday, September 27th at 7:30PM EDT
58 Comments
They’ve been agitating for a complete redistribution of wealth and power for more than 100 years. Now, they’re getting pretty darn close to accomplishing it.
Following the AFL-CIO’s August attempt to fire Michael Dell at Dell Computers, the Teamsters have gone gunning for the founder of FedEx, Chairman Fred Smith.
From the Teamsters’ press release:
At FedEx Corporation’s [NYSE: FDX] annual meeting today the Teamsters’ shareholder proposal to appoint an independent board chairman received 35 percent support according to results announced at the meeting. This marks a big leap in investor support for the proposed reform which received 27 percent support in 2009.
Excluding shares held by FedEx founder, Chairman and CEO Fred Smith and his business enterprises, 38 percent of the votes cast were in favor of the Teamsters’ proposal—a significant vote for change on the FedEx Board.
“Shareholders are growing tired of Chairman Smith’s stranglehold on the FedEx board,” said Teamsters General Secretary-Treasurer C. Thomas Keegel. “It’s time for independent board leadership at FedEx.”
This ties into AFL-CIO boss Richard Trumka’s statement on Friday that…
"we need to fundamentally restructure our economy and re-establish popular control over the private corporations which have distorted our economy and hijacked our government. That’s a long-term job, but one we should start now".
Well, they do seem to be on their way, don’t they?
Very interesting tactic, eh?
Teamsters Attempt to Oust FedEx Founder & Chairman Fred Smith from Co.
Posted by LaborUnionReport (Profile)
Monday, September 27th at 7:30PM EDT
58 Comments
They’ve been agitating for a complete redistribution of wealth and power for more than 100 years. Now, they’re getting pretty darn close to accomplishing it.
Following the AFL-CIO’s August attempt to fire Michael Dell at Dell Computers, the Teamsters have gone gunning for the founder of FedEx, Chairman Fred Smith.
From the Teamsters’ press release:
At FedEx Corporation’s [NYSE: FDX] annual meeting today the Teamsters’ shareholder proposal to appoint an independent board chairman received 35 percent support according to results announced at the meeting. This marks a big leap in investor support for the proposed reform which received 27 percent support in 2009.
Excluding shares held by FedEx founder, Chairman and CEO Fred Smith and his business enterprises, 38 percent of the votes cast were in favor of the Teamsters’ proposal—a significant vote for change on the FedEx Board.
“Shareholders are growing tired of Chairman Smith’s stranglehold on the FedEx board,” said Teamsters General Secretary-Treasurer C. Thomas Keegel. “It’s time for independent board leadership at FedEx.”
This ties into AFL-CIO boss Richard Trumka’s statement on Friday that…
"we need to fundamentally restructure our economy and re-establish popular control over the private corporations which have distorted our economy and hijacked our government. That’s a long-term job, but one we should start now".
Well, they do seem to be on their way, don’t they?
Very interesting tactic, eh?
Sounds like something Fred Smith would pull...
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