Some workers unemployed after GE fire may not be getting unemplo – WDRB 41 Louisville News

http://www.wdrb.com/story/28732345/some-workers-unemployed-after-ge-fire-may-not-be-getting-unemployment-check

This is the kind of stuff that makes me feel like something about big business is not quite right. I see how the little guy is always squeezed out. The workers who assemble all of the appliances at that park are very important to the success of the company-at least, in my opinion. However, they seem to be getting the possible shaft after the incredible fire that ravaged the building last week.

I bet that not one executive will suffer in this tragedy. It seems that the company should take care of their employees, and do right by them. I am not anyone who is anyone, but I feel that I should say my part because I am on the employee’s side.

When I hear about executives getting raises and bonuses that probably add up to more than the cumulative benefits of these displaced employees, it makes me sick. The little guy just cannot win. What better way to show that a company is behind their workers or that the same said company has changed its ways and is on the road to complete success than to show the world how important it’s employees are to its success. GE should find a way to help those employees to keep food on the table and to keep a roof over their heads.

I am a GE shareholder, and I am all for profits and stock appreciation. However, how can a company prove itself to the investment community by neglecting its employees. The employees have to know that they are working for a company that is behind them in the good and the bad. In that way, the employees will find it in themselves to go the extra mile to produce for GE.

Where has the American way gone? Americans have been known for helping each other. Lending a helping hand is the American way. How could GE put profits before it’s employees. It isn’t like the stock has been moving upwards and every little bit counts. This stock has done nothing but drive investors nuts for almost a decade. I am sure that there is a way that GE can find it on their books to help keep its employees safe and sound and able to support their families. Hmmm… Maybe the executives could take a little cut until things get better….. Maybe not!

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I am quite sure that those employees are not rich nor do they make a tremendous amount of money. Although, I am quite sure that the head honchos will not lose an ounce of sleep over this because their lives will not change a bit. This company is a conglomerate, not a bunch of separate businesses. If GE still owns the appliance division until the sale is finalized, GE ought to provide some type of income protection for its workers no matter the division. I can only imagine what type of insurance will be collected. It might allow GE to collect for loss of sales and so forth. I can only imagine. But, somehow it sounds like the employees might be left out.

Come on GE, man up! Treat your employees with respect. Show the world that this company is a leader and can treat it’s employees and it’s customers like no other. Don’t drop the ball and let these people down. Remember, knives cut both ways. GE can’t possibly complain about being incorrectly treated by the investment community if they are treating the employees that allow them to exist no differently.

I cannot wait to hear what comments GE has on this subject. I hope the only thing I hear is that GE will make every attempt to make its employees whole again. If that were to happen, I wonder how the investment community would react? I can imagine that it can’t be any worse than how it reacted when the fools at the top almost scuttled the ship early in this decade. However, I want to believe that investors would reward a company for being truly American and showing that not only are profits and share prices important, but how a company treats it’s employees might lend credence to how it runs itself as a whole.

Good luck to all GE employees and investors.  I wish you all well.

Keep cranking,

Robert the DividendDreamer 

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About dividenddreamer

Doing what I can to make the best of today and the most of tomorrow.
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9 Responses to Some workers unemployed after GE fire may not be getting unemplo – WDRB 41 Louisville News

  1. Robert,

    Very powerful and emotionally motivated post – you speak straight from the heart, I like that.

    I agree with you that a company should take care of its employees. They’re the most important capital of a business, bar none. Invest in your workers and they’ll go through fire for the company – ironic in this situation, I know – if they have to.

    In this particular case there seems to be a loophole in the legislation? I don’t really think that is GE’s fault. The legislator should fix the loophole and make the GE employees whole.

    Here in Europe there’s a lot of legislation in place to protect employees against one-sided business decision, so something like this won’t happen here. Of course, the cost of that is less flexibility (and profitability) for the companies.

    Cheers,
    NMW

  2. Vivianne says:

    oyyy, I’m just starting to get on the GE bandwagon. To me, CEO, and executive pay and bonus are too high. Say they got paid $1 mil, bonus $20 mil. $1 mil can help pay 10, $100k employees, 30 of $30K employees. 20mil …. ? The pay gap is way too large.

    I think as the unemployment drop, it’s harder to hire low wages people, so companies will be forced to raise wages.

    • It is amazing how much money some executives receive each year. In a 24 hour period, Immelt wrangles in more than most individuals gross in a year, Immelt collects most of it during his off hours-Talk about passive income!

      Keep cranking,

      Robert the DividendDreamer

      • Vivianne says:

        Some board members probably happy with Immelt’s decision to sell off some of GE business, GE increases 7% today. There is a plan to return $90 billions to investors. In the meanwhile, there is a lot of people going to lose their job due to downsizing.

      • I do not know the is and outs of all of it, but this is the day that I have been betting on. It will be one heck of a situation for everyone involved. I hope the shareholders are rewarded and the employees are treated well. At least the employee stock will see a possible ramp up in price.

        Keep cranking,

        Robert the DividendDreamer

  3. Vivianne says:

    I also did not know that GE has sold off their appliances to another company. My hospital have so much GE equipment. I was very surprised to see GE massive machinery. I’ve heard they are involved in financial sector, but over $100 bil? Man, that’s a lot. $1 change in GE price, change $1-2 billions in total market cap. GE is huge. Since I stick to buy and hold, I started making money too. 11% gain at the end of the day. I too hope GE worker believe in their company as much as other shareholder so they can be rewarded too.

    Have a great weekend!

    • Ge is a massive beast no doubt. They are exposed to every part of the economy. Soon, it should be a lot leaner and much more focused. I have been dreaming of this day for quite some time. Thanks for stopping by.

      Keep cranking,

      Robert the DividendDreamer

  4. Larry says:

    The effects of the fire is also felt here in Maryland. My daughter owns a condo and is renting it to a GE employee. His hours were cut in half due to the lawsuit and now they can’t afford the rent. Their car was repossessed and then they applied for a loan, but it was denied due to his low salary. Now they are going to apply for social services. It is time for GE to give back.

    • Although I am a shareholder, and I want to see the company make money, they should pay every worker so that they should be able to afford the essentials in life and maybe a few luxuries. It is amazing to see a lot of the big brass make more money in an hour every hour of the day than the true workers make in a month or more. That is unfair no matter how you slice it. The shareholders should come in somewhere in the mix, but the workers should be up at the top of the expense plan, and the pay should be more even out so everyone can prosper.

      Things are not fair in life—That is for sure! Hopefully, things work out for those who were affected by the issues with the fire.

      Keep cranking,

      Robert the DividendDreamer
      AKA — Seeking Dividends

      Follow me on Twitter– Seeking Dividends@DividendDreamer

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