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Ajw71 
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Re: Unite and Grangemouth : Sun Oct 27, 2013 2:14 pm  
Lord Elpers wrote:
A private company still has shares and in this case Jim Ratcliffe owns about two thirds. Your ignorance does not need noting as it is there for all to see!


I was thinking the same....they are called private companies limited by shares for a reason.
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Re: Unite and Grangemouth : Sun Oct 27, 2013 2:35 pm  
Lord Elpers wrote:
A private company still has shares and in this case Jim Ratcliffe owns about two thirds. Your ignorance does not need noting as it is there for all to see!


When you read the quote in context its pretty plain to see that the meaning is "shares" as in a public listed company, the discussion was about keeping share prices and shareholder returns at a high price, the context was profit margins vs redundancies vs shareholder investors.

A directors responsibility to shareholders in a listed company is different to that of a private limited company where scrutiny is much lower especially when one person owns by far the majority of shares.
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Re: Unite and Grangemouth : Sun Oct 27, 2013 2:40 pm  
Big Graeme wrote:
Sick of having your booty handed to you no the Mitchell thread I see :lol:


When I have time I will remind you of the rubbish you posted on the Mitchell threads. You closed one down to save your face. Did you see the performance of the police under questioning by the MP's last week?
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Re: Unite and Grangemouth : Sun Oct 27, 2013 2:44 pm  
Lord Elpers wrote:
You closed one down to save your face.


I closed one because you were being an aggressive a r s e.
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Re: Unite and Grangemouth : Sun Oct 27, 2013 2:46 pm  
Ajw71 wrote:
I was thinking the same....they are called private companies limited by shares for a reason.


Context and nuance, not that I'd expect you to understand either.
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Re: Unite and Grangemouth : Sun Oct 27, 2013 3:15 pm  
JerryChicken wrote:
When you read the quote in context its pretty plain to see that the meaning is "shares" as in a public listed company, the discussion was about keeping share prices and shareholder returns at a high price, the context was profit margins vs redundancies vs shareholder investors.

A directors responsibility to shareholders in a listed company is different to that of a private limited company where scrutiny is much lower especially when one person owns by far the majority of shares.


My comment was in reply to the inacurate comment from Big G who stated:

"Ineos are a private company, no shares, no shareholders, just directors. Your ignorance has been duly noted"

A private company still has shares which still have a value which increases and decreases depending on the performance of the company valuation.The fact that the public and institutions are not shareholders makes no difference. There are still shareholders who have invested considerable sums for a return or in this case an ongoing loss. It was theses same shareholders that voted to close the plant after the Unite negotiators went all in and lost after discussions with the many many banks that were also supporting the losses.

So Big G was wrong and "duly noted"
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Re: Unite and Grangemouth : Sun Oct 27, 2013 3:28 pm  
Lord Elpers wrote:
A private company still has shares which still have a value which increases and decreases depending on the performance of the company valuation.The fact that the public and institutions are not shareholders makes no difference. There are still shareholders who have invested considerable sums for a return or in this case an ongoing loss.


Of course they do although in the context of the post which was in response to a previous poster who was meaning public shareholding companies in general, indeed responded to confirm that he didn't mean Ineos, hence as far as I can see and read the context was in publicly listed companies.

Although I have been away last week and not up to date with the Grangemouth story (which I worked on at one point in the 1970s) a private limited liability business like Ineos that has a huge shareholding in the hands of one person you can bet that the remaining one third of shareholders are hanging on his shirt tails expecting handouts every year as he has in all probability promised them (whether individuals or institutions), in a way this is an even riskier strategy than investing in public listed companies, when times are good he is a hero to them, when times get hard just one bad decision can bring the whole house of cards down - I currently work in one such company.
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Re: Unite and Grangemouth : Sun Oct 27, 2013 3:31 pm  
Lord Elpers wrote:
Did you see the performance of the police under questioning by the MP's last week?


Was it up there with Galloway handing the US Senate Select Committee their arses?
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Re: Unite and Grangemouth : Sun Oct 27, 2013 4:43 pm  
Sal Paradise wrote:
On McClusky's salary what are you comparing to - Cameron's salary of 143k makes McClusky look over paid for the respective levels of responsibility. The idea that 1.4m people are relying on him is simply not reality - most are far more reliant on their employers doing the right thing than they are on McClusky. No bad thing if his performance in this dispute is anything to go by. To put his salary in context how many people does unite employ and what are their revenues - basing it on that might be better way of judging whether he is paid at the correct level.

I haven't compared McCluskey's salary to anyone's. That was my question to you.
Once again, you attempt to swerve the question. The level of "reliance" McCluskey was not in the question so I don't know why you've brought it up. What is reality, in both your world and mine, is that he represents 1.4m people. It's up to you to provide the evidence and reasoning for your argument, not me. You were inferring he is paid too much. So prove it.

Sal Paradise wrote:
Why should the workers take a pay cut - because that is the only game in town, the company made that perfectly clear. What bit of that did you not understand? Whether they make money or not was irrelevant and it has proved to be the case. The union have just capitulated and given in to every demand the company requested - so how relevant to the settlement of the dispute was the profitability or otherwise of the company?

Seriously? Come on, you're not that thick. Of course whether they make money or not is relevant. If the company is making money why should the workers accept pay and condition cuts? Once again you're blindly believing the company's stated position.

Sal Paradise wrote:
Should a company making profits reduce labour costs by salary reductions and redundancies - depends on the future view of the business and the market it is in. An good company should be planning for the future and adjusting accordingly. Yes a profitable company should be looking to reduce labour costs if it sees troubled market conditions in the future - just sitting on its laurels as you are suggesting is a recipe for a nasty shock.

Where have I suggested "sitting on its laurels"? You're getting as bad as the likes of Ajw in making things up and not answering questions.
Right finally we get an answer. What if the future view of the business and the market is positive and they'll make increased profits even without reducing wages and conditions? And does the principal of paying higher salaries to attract better directors not apply to workers, supervisors, skilled workers and junior or middle management?

Sal Paradise wrote:
Was the plant losing money - neither you nor I really know the only people who really know is Ratcliffe and his directors. Given the directors were prepared to close it would suggest its a marginal call.

Were they prepared to close it permanently? Or was it a bluff that the unions weren't prepared to call? Why do you continue to believe everything the company states?

Sal Paradise wrote:
I would not trust McClusky to have done sufficient exploration to truly understand the finances of the site - that is just not his style. He is a throw back to the 1970s his ego is much larger than his effectiveness as has been demonstrated but here and at the Labour conference.

Yet you accuse me of myopia?
Can you answer the questions yet about McCluskey? How much are the company paying him? What car does he drive? And how does that (and his salary) compare to other people who represent 1.4m people.

Sal Paradise wrote:
So there you go some points for you to get your teeth into - I look forward to your considered responses.

Yes there are some points in there, sadly only one of them addresses a question you were asked, after several opportunities to answer.
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Re: Unite and Grangemouth : Sun Oct 27, 2013 4:59 pm  
Big Graeme wrote:
I closed one because you were being an aggressive a r s e.


No you didn't. Quotes please to prove aggression.?

It was you and some of your leftie chums that resort to abuse when another point of view is put forward. eg your use of the term a r s e when you have lost a point.
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