04/25/05
card number 323
Comments:
great idea from maria kowalski. I'm usually a mechanic but right now I'm a housewife and mom. going on the barter system I can babysit for any brother or sister in need. I'm watching my own 2 Tommy 8 and Emily 5. I live in Farmingville on long island. Let's fight this fight together Local 1.
04/25/05
card number wife of 1915
Comments:
a note to Liz Nielsen... Thanks for the heads up... As you suggested, I called Mathew Mathen (the director of unemployment) at 1/917-305-4132 to give him piece of my mind about the difference between lock out & strike. And I nearly fell down laughing. He was very confused as to how I had his direct telephone number, and said that he was only an employee, even if he was a supervisory employee, and couldn't help me. He directed me to my legislators. As you said, maybe I'm just spinning my wheels. But it felt soooo good! Good Luck and God Bless to all. Keep the faith. Together we are a force to be reckoned with …. And now they ALL know it!!!
04/25/05
card number 1936
Comments:
I like to thank all the members and family that has drop by the BBS Forum. The respond has been great and we are getting more and more members everyday. I like to enlist the help of a member that can help me loadup the forum with information so if you like to be a Moderator please stop by the forum and drop me a PM. Thank you, Pete Rodriguez http://peterod.com/iuec1/index.php
04/25/05
card number 1179
Comments:
CEO's GREED, while my brothers & sisters are locked out. Local One, will win. http://aol.businessweek.com/print/magazine/content/05_16/b3929100_mz017.htm?chan=mz& | A Payday For Performance | Compensation is less outrageous this year, except for CEOs who delivered
| For George David, the brainy chief executive of the old-line industrial conglomerate United Technologies Corp., (UTX ) 2004 was another winning year. UTC racked up an 18% gain in net income, to $2.8 billion, on 21% higher sales of $37.4 billion. Shareholder returns of 11% were nothing to sneeze at, matching the Standard & Poor's 500-stock index. So did UTC's board shovel on the goodies when pay day came around? Not exactly. Sure, David's bonus rose, to $3.5 million from $2.8 million. But his grant of stock options actually shrank. In fact, it was only the rise in UTC's share price -- reflected in an $8.6 million valuation for those grants -- that enabled the CEO to record a 16% raise in total pay for the year, to $13.6 million.
In a year when profits and stock prices surged, rewards for CEOs such as David were generous. But BusinessWeek's 55th annual Executive Pay Scoreboard found that increases were moderated in 2004 by the continued impact of corporate reform, an ongoing shareholder revolt over astronomical pay levels, and pending accounting changes that are reining in the use of stock options. Our survey of 367 CEO pay packages showed that:
-- Total CEO pay was up smartly, to an average $9.6 million -- a 15% increase from $8.3 million in 2003. But that average was skewed by the outsize pay package of our most highly compensated CEO, Yahoo! Inc.'s (YHOO ) Terry Semel, who received a package worth $120 million made up almost entirely of options. Take him out of the mix and the average raise was 11.3%, not far off the rise in shareholder gains: The S&P 500-stock index increased 10.9%. CEOs of the nation's biggest companies by market capitalization took home a total $3.5 billion in salaries, bonuses, and long-term compensation, including the value of 2004 option grants. Nearly two out of three CEOs saw their pay go up last year, with overall cash compensation rising 13.6% and long-term compensation increasing 15.6%.
-- CEO raises and total pay once again dwarfed those of the average worker, who saw pay rise 2.9%, to $33,176 per year. Nearly 40 of the nation's chief executives walked away with more than $20 million, excluding windfalls from option exercises.
-- There have been improvements, but pay for performance is still not the standard practice everywhere. Some boards, at least, are still lavishly rewarding CEOs who deserve far less. At Blockbuster Inc. (BBI ), for example, where operating income fell by nearly 50% and shares plunged by 47%, CEO John F. Antioco's pay increased 541%, to $56.8 million. One reason: The board replaced 4.3 million of his mostly underwater options with 1.6 million shares of restricted stock worth $14.7 million as a "retention measure." That enraged governance experts, who called it a bailout for a CEO whose lackluster performance has destroyed billions in shareholder value in the past three years. The company says operating income was down due to a $250 million investment in new initiatives, and says the stock was hurt by uncertainty over Viacom Inc.'s (VIA )80% stake in the company, which it sold to the public in October. Says Blockbuster Chief Financial Officer Larry Zine: "We think we actually performed pretty well."
Elsewhere, pay and performance seemed better aligned. Tyco International Inc.'s (TYC ) Edward D. Breen Jr. landed a $23.2 million package, up from $3.7 million in 2003, for continuing his two-year turnaround of the once-troubled conglomerate. Sales were up 11%, profits nearly tripled, and Tyco shares ended the year up 50%.
Pay anomalies are now easier to detect, thanks to a new methodology that BusinessWeek began using this year. Instead of counting the windfalls from option exercises as part of the annual pay package, as we have in the past, we're counting the value of annual option grants. The values are calculated using the Black-Scholes formula by Standard & Poor's, which like BusinessWeek is a division of The McGraw-Hill Companies. (MHP )
Our new formula also recognizes the new accounting reality of expensing, which requires companies to determine the value of options when granted and to deduct that amount from profits over a period of years. To standardize the Black-Scholes calculations, S&P uses standard inputs such as volatility, along with details of each option grant, including the exercise price. As a result, the option values used in BusinessWeek's pay calculations may not match those disclosed by the companies.
Counting options at the time they're granted instead of when they're exercised results in some dramatic changes. Under the old formula, a CEO who exercised a big slug of long-held options could have catapulted to the top of our rankings -- even though that windfall represented stock gains accumulated over many years. UTC's David, for example, exercised 1.1 million options for an $83 million gain last year. Semel, meanwhile, cashed in more than 10 million options for $230 million in 2004. With windfalls like those, both would have been at or near the top of our ranking using the old methodology. Semel still landed at the top of our pay scoreboard this year, thanks to new, gargantuan option grants. But David, with a total compensation of $13.6 million, wasn't anywhere close to the top.
RICH REWARDS
Eliminating those windfalls allows us to make more precise long-term comparisons. What we found when we compared the pay packages of today with the pay of CEOs from the late 1990s, using the same methodology, was enlightening. While the conventional wisdom holds that CEOs are getting more egregiously overpaid each year, in fact the truth is more complicated.
Consider Semel. His $120 million payday made him the highest-paid chief executive in the BusinessWeek scoreboard. True, Semel's performance last year was outstanding, as Yahoo doubled sales, increased profits 253%, and delivered shareholder returns of 67%. Yet Semel's reward makes him even more overpaid than some of the biggest earning CEOs of the boom years. His compensation far exceeds the average pay packages of IBM's (IBM ) Louis V. Gerstner Jr. ($42.6 million), Cisco Systems' (CSCO ) John T. Chambers ($52.1 million), and General Electric's (GE ) John F. "Jack" Welch ($64 million) during that period -- each of whom ran far larger companies. Yahoo declined to comment. But the compensation committee, in the annual proxy, notes that Semel's skills "make him an attractive candidate to competing organizations."
Even so, mega-payouts are a lot less common today. Sure, most workers would be glad to get an 11.3% raise -- the average CEO increase without Semel -- but it doesn't seem wildly excessive for a CEO who adds real value. The new restraint has a lot to do with the market correction of 2000 and the shareholder revolt against big pay packages that followed. In some cases, late-'90s pay packages ballooned because option values were inflated by unrealistic stock prices. Both former Tyco CEO L. Dennis Kozlowski and former Computer Associates chief Charles B. Wang, for example, received massive option grants just as those stocks were approaching all-time highs.
At the same time, many longtime CEOs, like Oracle Corp. (ORCL ) chief Lawrence J. Ellison, had options awarded many years earlier that could still be cashed in for huge profits, even after the market tanked. In 2001, Ellison cashed in 23 million options for a $706 million gain. Ellison's payday was the largest ever, but he was hardly the only CEO who reaped improbably large rewards while regular investors watched their own portfolios evaporate. The resulting backlash prodded many boards to make changes. Among them: fewer options, more restricted stock, and tougher performance hurdles. Those changes, along with lower post-crash equity prices, brought many pay packages back to earth.
But those changes won't mean the end of huge option windfalls. The fact is that option stockpiles are now so big that, if prudently managed, many CEOs will be able to continue extracting sizable annual option windfalls from them for the foreseeable future. Only a handful of companies, like Microsoft Corp., (MSFT ) have gone cold turkey and stopped granting options. At those companies option stockpiles will be exhausted in a decade or less, since most options expire after 10 years. In 2004 the 200 big companies tracked by New York pay consultants Pearl Meyer & Partners granted options equal to 2% of their outstanding shares, down from 2.7% in 2001. CEOs saw the stock option portion of their pay packages decline from 51% to 37% in just one year -- in part because grants of restricted stock increased.
BIG STOCKPILES
But the vast majority of companies continue to partially replenish executive option stockpiles. In 2004, for example, Richard D. Fairbank of Capital One Financial Corp. (COF ) exercised more than a million options for a take-home total of $56.5 million -- and the board granted him 566,000 new options with a value of more than $25 million. With more than 11 million options worth $560 million in his stockpile, Fairbank can continue making withdrawals and deposits at that rate almost indefinitely. Fairbank's 2004 option grant was much larger than his 2003 grant, at a time when the company cut back on all option grants by nearly 60%. But as the board's compensation committee notes in the annual proxy statement, Fairbank did not receive a restricted stock grant in 2004, and he has waived his salary and bonus since 2002.
It will be a long time before execs burn off those option piles. For a hint of things to come, look at the option-exercising binge some CEOs went on in 2004. Lew Frankfort, CEO of trendy leather goods maker Coach Inc. (COH ), exercised options worth $84 million, on top of his $58.7 million pay package. Coach Chief Financial Officer Michael F. Devine III says Frankfort earned every penny of his paycheck: "He has created $10 billion of shareholder value. I would take a $10 billion return on a $50 million investment any day." Still, critics of inflated CEO compensation will find plenty of ammunition for years to come.
By Louis Lavelle in New York, with bureau reports
04/24/05
card number 109766
Comments:
United WE STAND!!! Keep fightin the fight! We will prevail! Local 8 still pulling for you! This is when emany will see all the contracts leave to signatory companies. We can't let them break our union, which is their intent. We are an educated union and that's what makes us strong! Be Proud of our union!
04/24/05
card number 527
Comments:
kone scabs are in a hotel in the meat packing district will find out exactly where monday.if anybody has more info. let us know. scab#1eddie becker still running from290broadway&26FEDERAL PLAZA
04/24/05
card number 1179
Comments:
| If If you can keep your head when all about you
Are losing theirs and blaming it on you;
If you can trust yourself when all men doubt you,
But make allowance for their doubting too;
If you can wait and not be tired by waiting,
Or, being lied about, don't deal in lies,
Or, being hated, don't give way to hating,
And yet don't look too good, nor talk too wise; If you can dream - and not make dreams your master;
If you can think - and not make thoughts your aim;
If you can meet with triumph and disaster
And treat those two imposters just the same;
If you can bear to hear the truth you've spoken
Twisted by knaves to make a trap for fools,
Or watch the things you gave your life to broken,
And stoop and build 'em up with wornout tools; If you can make one heap of all your winnings
And risk it on one turn of pitch-and-toss,
And lose, and start again at your beginnings
And never breath a word about your loss;
If you can force your heart and nerve and sinew
To serve your turn long after they are gone,
And so hold on when there is nothing in you
Except the Will which says to them: "Hold on"; If you can talk with crowds and keep your virtue,
Or walk with kings - nor lose the common touch;
If neither foes nor loving friends can hurt you;
If all men count with you, but none too much;
If you can fill the unforgiving minute
With sixty seconds' worth of distance run -
Yours is the Earth and everything that's in it,
And - which is more - you'll be a Man my son!
| Local One, IUEC will win this. Stay Strong. Brother Tom Moore,
04/24/05
card number 2387
Comments:
to emany, thanks for locking me and my brothers and sisters out. We spent many years of representing your companies, many hours many holidays not with our families,we answered calls all hours of the night, kept your name in good faith, you emany repaid us by slamming the door in our face,in our families faces, and in reality in the public face because you now have unqualified scabs working. and a message to those scum scabs. THANK YOU FOR TAKING MY JOB THANK YOU FOR MAKING BILL PAYMENT DIFFICULT AND THANKS FOR TAKING FOOD OUT OF MY KIDS MOUTH WHAT COMMIES AROUND GOES AROUND !!!! Local 1 keep fighting you are representing the best!
| Maria Kowalski (Wife of Colin) | Email |
04/24/05
card number 2361
Comments:
Good Day everyone out there in Local One Land!!!!!! I am the wife of Local One member Colin Kowalski and I've been sitting here pondering how we can somehow help each other with our collective skills and knowledge etc.. Somewhat like a barter exchange except with NO OUT OF POCKET COSTS for anyone involved. Anyone with "free time" on their hands should be able to pitch in and help their Local One brothers & sisters. Whether it be baby sitting, carpooling, tutoring or lending a hand on a home improvement project. I am a New York State licensed hairdresser and have been for over 20 years. I am willing to start the ball rolling and offer FREE haircuts to Local One members and their immediate families (spouses & children). I will start by donating Monday & Tuesday evenings from 4pm until 8pm. I will add days if necessary. Children with special events happening in their lives such as birthdays, communions, graduations etc. will have first preference. It costs me nothing but time. If we can pick up some slack for each other in certain areas, maybe this tough time in our lives can become slightly more bearable. Try to keep your heads up! When the going gets tough, the tough get going! For an appointment & directions to Seaford call: (516) 781-2562
04/24/05
card number 1347
Comments:
Morning brothers and sisters its Sunday morning here on Long Island NY Its April 24th , the 39th day I believe that WE have been locked out by Emany. I read with great respect from the other Locals " THAT THEY ARE BEHIND US HERE AT Local 1 IUEC 100%. Although this is a very tough time , like brother Tom Moore keeps posting TOUGH TIMES DONT LAST , BUT TOUGH PEOPLE DO!. I am very grateful for what I have and like all of us here at Local 1 ,I am looking foward to going back to work .BUT I will remain strong I will remain informed . I will remain involved whether Its morning noon or night! My health is good my family is good and this is only temporary ( LOCKOUT). I am extremely proud of OUR LEADERS in place and will remain STRONG!!!! I thank God for all the things in LIFE WE DO have. I remain an educated qualified Local 1 IUEC UNION brother , extremely proud. GOD BLESS Respectfully submitted Brother Brian Link AKA Captain America Thanks Again for all the support from all over the country WE WILL PREVAIL, and we will never forget who has been supporting us from DAY 1 .
04/23/05
card number 1179
Comments:
Stay strong. Tough times don't last, but tough people do. GPS readied for tracking sex offenders By BILL HUGHES
whughes@thejournalnews.com
THE JOURNAL NEWS
(Original publication: April 23, 2005)
WHITE PLAINS — Electronic monitoring of paroled felons has generated a lot of headlines lately. It began when domestic diva Martha Stewart donned an ankle bracelet after her release from federal prison and more recently last month, when a paroled sex offender in Florida was arrested in the killing of a 9-year-old girl, sparking legislation to require stricter monitoring of paroled sex offenders there. But long before the recent developments, Westchester County's Department of Probation was quietly planning to take its 15-year-old electronic-monitoring system to the next level. Last year, the county put out bids for a Global Positioning System for satellite tracking of sex offenders, awarding a contract to a California company in January. Assistant Commissioner Louis Conte said probation officers are training with the new equipment, and the program should be operational within a few months. The system involves 24-hour monitoring via satellite with hand-held computers that function as tracking devices and cell phones. Probationers in the program will also have phones that do not dial out and an ankle bracelet specifically programmed to alert a probation officer if the offender goes anywhere he or she is not supposed to. If the probationer steps into what are called "exclusion zones," which can be tailored through software to each individual's court-mandated requirements, the probation officer receives an instant alert and can either call the person or go to the location to investigate. The operating cost for the "active" system is roughly $8 per day per offender, Conte said, a few dollars more than the current "passive" system in which probationers download information from their monitors every day. The new system should free up time that probation officers spend sitting in front of a computer, Conte said. "It's a significant investment, but we believe it's going to prove to be a worthwhile one," Conte said. "Obviously, it's not a fail-safe system, but it's certainly going to serve as a psychological deterrent to these guys, knowing that we can trace their every move, and it's certainly going to provide us with way more information than we have now." While some civil libertarians consider such monitoring an abuse of governmental power through high-tech methods, Conte stressed that the GPS would be put in use only for the worst offenders and only after a judge has ordered it. Charles Onley, a research associate with the U.S. Justice Department's Center for Sex Offender Management, cautioned that although the technology has improved, GPS provides only limited information. "Just because a probation officer knows where you are doesn't necessarily mean you can't be perpetrating a crime," Onley said. "The advantage they do provide goes more toward helping an agency rule someone out as a suspect when a new crime is committed," Onley said. "The people under their supervision are generally the first people that get looked at in those situations." Jill O'Neill, the assistant director for the county's office of Victim's Assistance Services, said she thought the new technology would help many crime victims feel more secure. "For both past and future victims, this will absolutely be a positive thing," O'Neill said. "Peace of mind can be different for every victim, and each victim is going to experience trauma differently," said O'Neill. "I think knowing that officers will have direct phone contact and the ability to get there quickly will make a lot of victims feel safer." PARTNERS IN THE PROFITS, NOT JUST PARTNERS IN THE PAIN.
04/23/05
card number 86221
Comments:
Your brothers and sisters in Local 8 San Francisco are behind you as you stand on the front line for all of us. Our May meeting will be a "Special Called Meeting" to fund a $50,000 donation to Local 1. (April we sent $ to our Canadian locals in need). I encourage everyone to attend the meeting and show our appreciation to New York. Local 1 sent $1000 to us after the 1906 earthquake which was 2 days pay for everyone in the local. Local 8 has a long memory and does not forget! I encourage other locals to do what the can to help. Show the companies that an attack on one of us is attack on us all! John Ruth BA Local 8 San Francisco
04/23/05
card number 108338
Comments:
Please mail checks to: Pay to the order of : Local One Memo: Lock out fund 2005 I.U.E.C. Local One 47-24 27th Street Long Island City, New York 11101 Its a small price to pay, a BIG help to the brothers & sisters of Local One, and the future of all of us!! Mario A. Vicchiullo Jr. I.U.E.C Local 18 Chairman Las Vegas
04/23/05
card number 1122
Comments:
Hey Pete Byker, one of LOCAL 2's finest,the great brother's from VEGAS, LOCAL 18,started a LOCK OUT FUND for us at LOCAL 1 WE appreciate,and will never forget all the support we receive from all the local's and the brother's being brother's TO brothers!! The mailing address is I.U.E.C LOCAL ONE 47-24 27 street L.I.C NEW YORK 11101 Thank's to ALL again WE WILL PREVAIL
04/23/05
card number 1936
Comments:
Like to thank the members that have come over to the BBS Forum. The BBS forum will mirror this site in many ways. As in any site the more people get involved the better it is. The hit count has been great but please take the time to register. I will be adding more and more over time. Thank you. http://peterod.com/iuec1/index.php
04/23/05
card number 99926
Comments:
Hey Local 1, Where can I send my check? Local 2s got your back!!! Its Gut Check Time!!!
04/23/05
card number 340
Comments:
Just a reminder where still holding a line at Stony Brook University Nicholls road south entrance. A special thanks to our international brothers and sisters for your support it means alot.
04/23/05
card number 1122
Comments:
Thank's to all the fine LOCAL 1 brother's who continue to hold the LINES at NEWARK AIRPORT! Terminal A may be seeing different shirt's there soon! Stay STRONG brother's,sister's and ESPECIALLY 'WIVE'S' of LOCKED OUT MEMBER'S! JERRY WODY CARD #2848 can you E-mail me your address, I have a little something for your son Chris. To all, keep your eye out for those construction job's,and CARD anyone working on OUR EQUIPMENT!
04/22/05
card number 820
Comments:
Thank you brothers and sisters for that vote of support last night. Thank you brothers and sisters all around the country and the world for your support. STAY STRONG, WE WILL WIN! ONE LOCAL, ONE UNION, ONE VOICE.
04/22/05
card number 1800
Comments:
DEAR BROTHERS AND SISTERS, THIS MESSAGE IS FOR ALL OF OUR INTERNATIONAL BROTHERS AND SISTERS. FIRST LET ME THANK YOU FOR ALL YOUR SUPPORT, BUT MORE IS NEEDED! IF EVERY BROTHER AND SISTER WORKING IN THIS INTERNATIONAL WERE TO GIVE $10 DOLLARS TO A LOCKOUT FUND, WE WOULD BE ABLE TO TAKE CARE OF OUR LOCKED OUT FAMLIES THE WAY WE SHOULD BE. REMEMBER WE ARE FIGHTING THIS BATTLE FOR ALL OF US. LETS SHOW THESE GREEDY COMPANYS WHAT UNION REALLY MEANS!!! IF U READ THIS PLEASE PASS IT ALONG TO YOUR B.A. OR ANY UNION REP. $10 DOLLARS FROM ALL OF US, ITS THE PRICE OF A LUNCH!!! NOW IS THE TIME TO STEP UP !!! UNITED WE STAND , YOURS IN SOLIDARITY, BRENDAN LOFTUS
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