Kodak Stock Price Soars . . .

Discussion in 'Kodak' started by Jeremy, Jan 22, 2004.

  1. Jeremy

    Jeremy Guest

    . . . on the news of its reorganization, according to the Associated Press
    Business Report, heard on my radio a few minutes ago.

    This is typical of so many industries in America today. Jobs being moved
    offshore, to take advantage of cheap labor. Americans laid off. Prices
    lowered, for a time, until none of us have any money because everything we
    buy is made in China . . .

    Same scenario with IBM, where they are moving programming jobs in the USA to
    INDIA. US pay rate is $56/hour, vs. $9/hour for the Indians . . . Going to
    save IBM $130+Million.

    Has anyone heard that old commercial "Look For The Union Label" from the
    International Ladies Garment Workers Union in the past few years? I think I
    know why: you cal "look" for the union label all you want, but the only
    "label" you'll find is the one that says "Made in Bangladesh."

    I do not understand why our political leaders do not address this. What
    will be left when we have no industry and no money, because we used it to
    import everything from the Third World?

    For the sake of saving a buck, we have shot ourselves in the foot.
     
    Jeremy, Jan 22, 2004
    #1
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  2. Jeremy

    Gordon Moat Guest

    Or Thailand, Malaysia, the Philippines, India, and many other third world
    countries.
    Not just them. There is also the customer service industry, financial
    institutions, insurance, and other business management functions moving
    offshore. In many cases, the companies get well educated english speaking
    workers at a very reduced cost. The employees (like in Bangalore) are quite
    well paid in comparison to their local economies.

    The pressures to produce quarterly stock market gains are driving this trend.
    Another thing is the increase in legislation intended to protect US workers, or
    ensure benefits. The way out of this for many companies it to go to temporary
    work forces, or just ship their workers base outside the US. The benefits to
    the companies allow profit and growth, pleasing institutional investment
    companies (that drive and control the market). Generally, what is good for
    stock market growth is bad for workers and most individuals.
    Too bad the corruption of some unions ruined this avenue of control. That
    leaves only general strikes by workers to regain any control. Some indications
    of that effectiveness can be seen in recent history of the former Soviet Union
    and Poland. General strikes are often somewhat effective in parts of Europe
    Union countries as well, indicating that may be the only future tactic that is
    effective.
    They are all millionaires without direct connection to the average worker. I
    really think they do not understand the situation.
    Liability risks have already limited manufacturing and products, and is another
    issue. These are huge issues, but too often the large numbers get the attention
    (GDP, economic indicators, et al) rather than a realistic view of life at
    ground level.
    I do not think that legislation is the answer. There has been too much already.
    Someone needs to follow one historical lesson of Justinian, and clean up the
    existing laws.

    On Monday, I travelled to Phoenix for a meeting about some work. While driving
    there, I noticed many areas where workers were in the fields picking produce.
    These workers come to the US on a Federal program importing workers. They are
    paid little by US comparison, yet fairly well by comparison with Mexican wages.
    The benefit to consumers in the US is lower food prices. How many people in the
    US would be happy paying higher food prices, just to avoid exploiting an under
    developed country and its' workers?

    The same is true of any industry, including Kodak and their film production (or
    any production). Moving the manufacturing offshore could bring slightly lower
    prices to US consumers, benefit a third world country, yet displace US workers.
    Ever wonder why the only US made cameras are large format niche products of low
    volume?

    Ciao!

    Gordon Moat
    Alliance Graphique Studio
    <http://www.allgstudio.com>
     
    Gordon Moat, Jan 22, 2004
    #2
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  3. Jeremy

    ThomasH Guest

    From $25 in Nov 2003 to 27.5 now, 2-3 months later?
    I would not call it "soaring," it is just keeping pace
    with the market tendency.

    Thomas
    PS:
    You are right on this point, I am getting angry when I see
    this "Made in China" on virtually every household hardware...

    Thomas.
     
    ThomasH, Jan 23, 2004
    #3
  4. Jeremy

    Jerry L. Guest

    But (in the great Republican way?) the Kodak CEO gets a bonus,
    American workers get a pink slip, and the great (where are those
    weapons of mass destruction?) leader in the White House gets more $$$$
    for his re-election game.
    = = =
    SNIP
     
    Jerry L., Jan 23, 2004
    #4
  5. Jeremy

    Gordon Moat Guest

    Would that be "A government by the special interests, for the special interests, and with
    liberty and justice . . . . . for the special interests!"?

    Ciao!

    Gordon Moat
    Alliance Graphique Studio
    <http://www.allgstudio.com>
     
    Gordon Moat, Jan 23, 2004
    #5
  6. Jeremy

    George Guest

    I can't wait until stockholders start DEMANDING that upper management jobs
    be shipped offshore. Some countries, like Japan, traditionally will pay the
    president of a company no more than 10x the salary of its lowest paid
    employee. Makes you wonder how much Carly Fiorina ($66M in her first 60
    days at HP) would be making.
     
    George, Jan 23, 2004
    #6
  7. Jeremy

    Dallas Guest

    Jeremy said:
    The scurge of capatalism? ;-)

    You have it in your power to insist on buying things made in your own
    country. You may pay more, but sooner or later if enough people are doing
    it, the marketing geniuses catch on and start working the angle.
     
    Dallas, Jan 23, 2004
    #7
  8. Jeremy

    Jeremy Guest

    That was true in the past--but what can the consumer do when virtually all
    og the retailers carry third-world goods and do NOT even offer any
    union-made stuff? How many people are going to go out of their way to
    insist upon being given the choice?

    Besides, here in Philadelphia, our local Wal-Marts have customers that
    mainly do not even speak English. It's like shopping in a foreign bazaar!
    Believe me, these "new immigrants" (probably illegal ones) couldn't care
    less about whether something is made domestically.

    It makes me sick. Our country is being, literally, given away to people
    that have never paid a cent in taxes or Social Security contributions. And
    this scenario is also taking place in the EU, too.

    Ross Perot once asked, what will we do when we've spent all our money buying
    cheap imported goods, and then have no money left? This is quickly becoming
    a reality.

    How long before our toilet paper comes from China, along with virtually
    every other commodity that we use?

    Please excuse my off-topic venting.
     
    Jeremy, Jan 23, 2004
    #8
  9. Jeremy

    Gregg Guest

    Sure, cutting 15,000 jobs will always give the stockholders a little more
    coin in the pocket .....
     
    Gregg, Jan 23, 2004
    #9
  10. That's right.....Everyone complains, but look at the labels on the clothes
    they are wearing, and the kitchen utensils they are using, and all the parts
    in their TV sets, and all their furniture, and all their sheets and
    pillowcases, and half the goodies in their cars and motorcycles and
    cameras.......Ask them when was the last time they refused to buy something
    cheap, because it wasn't made in the US............Just let, "Dubya" force
    them to give up all that cheap stuff, and listen to the howls of
    anguish.....
     
    William Graham, Jan 24, 2004
    #10
  11. Jeremy

    Dallas Guest

    William Graham said:
    Interestingly enough certain goods produced in the USA are more sought
    after by people not living in the USA. Fender guitars that are MIA are
    much more desirable than the ones made in their Mexico factory. Sadly they
    cost a lot more too.

    In South Africa there is a very high profile marketing campaign going on
    called "Proudly South African". These are companies that are 100% local
    and the campaign is designed to create awareness of high quality goods
    made right here at home.
     
    Dallas, Jan 24, 2004
    #11
  12. I'm not sure why this is. I owned a Mexican Fender for a while, and I
    thought it was beautifully made. It cost only around $300 US, while the US
    made ones were a thousand dollars more.....I am an amateur musician, and can
    play the guitar as well as the trumpet, so I know something about the
    instrument. To me, the Mexican guitar was a very good buy, and played as
    well as any instrument I have ever owned.
     
    William Graham, Jan 24, 2004
    #12
  13. Jeremy

    Bob Hickey Guest

    And give Fuji another 15,000 loyal customers. Bob Hickey
     
    Bob Hickey, Jan 24, 2004
    #13
  14. Jeremy

    Dallas Guest

    William Graham said:
    I know what you mean. My brother-in-law has a Fender Squier made in Japan
    with a Floyd Rose tremelo thingy. It is a superb guitar and I have yet to
    see anything quite like it.

    My Fender acoustic was made in Korea but is beautifully made and sounds
    amazing (when others play it!).
     
    Dallas, Jan 29, 2004
    #14
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