Milwaukee Electric Tool sold

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Look it up, Charlie, most of that "wage" is not a wage, but stock options and deferred compensation, and there are performance conditions set on that. Know many folks on the line who would go for a performance-oriented wage?
Regular retirement plans are deferred compensation, but the rank-and-file never see them as such, nor do they know the cost of any other benefits. GM, for instance, passed one retiree for every two active workers a few years back, and the health plan for retirees is the same PPO the regulars get. Makes for a tremendous competitive advantage for the foreign makers, wouldn't you think?
Oh yes, I doubt that companies of 50K employees are paying 100 million CEO salaries. That kind of money just isn't there, unless you're in something besides manufacturing, or your employees are Chinese.
Besides, isn't paying people what they're worth a liberal shibboleth?

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George states:

Many people do, and possibly your average CEO does, but for the most part, those over-compensated types do not have performance factors built into their contracts. I don't basically care what the payment is called. It is still a wage of sorts. I'd never make an accountant, because to me, if it goes out, it's an expense, and if it comes in, it's income.

A lot like the regular retirement plans around here, and elsewhere (think US Airways), that are now permanently deferred.

Used as a simple math example, but WTF. Take it further. Build your straw man.

Damifino. Nor do I care. No one is worth 100 million bucks, singer, ballplayer or Chainsaw Al.
Charlie Self "A judge is a law student who marks his own examination papers." H. L. Mencken
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I received this in my email.
To all Milwaukee Heavy Duty Club Members:
We have great news to share!
Milwaukee Electric Tool is being acquired by Techtronic Industries Co. Ltd. (TTI), the world's fastest growing power tool manufacturer. Although you may not have heard about TTI, you're probably familiar with some of the brand name products owned by TTI, like Ryobi power tools, Homelite outdoor power equipment and Royal and Dirt Devil vacuum cleaners and floor care appliances.
Joining forces with TTI will allow us to share TTI's research and development facilities. That means we'll have even more engineering and manufacturing expertise to draw on in order to produce the innovative products that you've come to expect from Milwaukee.
We currently employ more than 2,000 people and have four manufacturing plants in Wisconsin, Mississippi and Arkansas, making Milwaukee the only power tool manufacturer with the majority of its tool production in the U.S. Our team will now join forces with TTI North America, which employs 1, 800 people in Ohio and South Carolina.
Our products will continue to carry the familiar Milwaukee brand and you'll be able to buy the tools and accessories you need from your favorite retailer or distributor.
At Milwaukee, we're proud of our 80 years of dedicated service to professional power tool users. The product and service levels that you've come to expect from Milwaukee will be the same - if not better - in the years ahead. As we begin this next chapter, we thank you for your continued support and invite you to keep sending us ideas on how to make Milwaukee power tools and accessories even better.
We fully expect to become a stronger company as a result of this acquisition. This should translate into even more high-quality, innovative power tool and accessory systems from Milwaukee.
Thank you for owning and using Milwaukee Electric power tools.
Sincerely,
Dan Perry, President Milwaukee Electric Tool
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BigDog
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I guess it is good news for Danny boy. He is probably in the process of negotiating a huge severance package for himself while 90% of the Milwaukee employees will be getting dumped.
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wrote:

Oh yeah, knowing that the company that made my heavy duty 3/8" portable drill and well-designed, well-manufactured jig saw is now owned by the manufacturer of Ryobi Homer Weekender tools and Dirt Devil vacuum cleaners fills me with such inner joy I can hardly contain myself. I wonder if the next generation of Milwaukee tools will perform like the vacuum cleaners and suck?
... snip

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Great - another good tool manufacturer down the toilet.
Brian

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True to some extent, but at least I'm able to slowly order all my parts & accessories from one source..LOL.
--
Jon Down
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