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Originally Posted by dontsurf
Ok, this just went from ignorant to stupid. I remember now why I don't get involved in this online posting stuff. I tried to point out from a corporate finance concept, why it is that a corporation would buy back their own stock. Yet some people seem to think every single move by management of a company is some sort of conspiracy to keep the working man down, crushed under management's heels. That's ridiculous. So you think it's much nicer for management to keep huge cash balances so the company gets bought out, then forcibly merges seniority lists and people end up getting furloughed and other people get laid off? That doesn't even make any sense. If you'd ever bothered to study anything about business, you'd know that the officers of a corporation have a fiduciary responsibility to their shareholders to do the right thing by the company. Just because they don't give every penny the company makes back to the employees does not make them some Scroogelike bastards. They are doing their jobs. Would it be nice to get raises? Of course. But I came to this company from a company that had a union, had a contract, had yearly raises, and was still a pathetic place to work because management took every single opportunity they possibly could to screw over ever single employee. That's not the management philosophy here at Skywest, and that's why a lot of people work here. Corporate buybacks of outstanding stock have nothing at all to do with screwing the employees over. Your ridiculous conspiracy theories don't even make sense and just show what a fearmongerer you are. Give it a rest. Focus on legitimate things, like no raises period. Don't get into things that you don't know anything about. It keeps you from looking stupid.
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Your personal attacks questioning my intelligence are amusing and so that I am not confused with you I will not respond in kind.
Facts are SKW is not interested in the long term well being of the majority of their employees and that is verified by their unwillingness to keep wages up with inflation when they have the resources to do it. I understand very well why companies buy back their stock and frankly the stock buy back rarely increases the market cap value as much as is spent on the buyback. In my opinion buybacks are a waste. If management wants to reduce their cash to avoid a run on the company, either distribute it to the stockholders or the employees or both. It would be just as effective at emptying the treasury and probably more appreciated by those stakeholders affected.
SKW has no internal conspiracies, their low wages are part of their business model. They have decided (and I'm not referring to just pilots) it is cheaper to pay starvation wages and shoulder the cost to train new employees rather than make the jobs they offer good enough jobs where someone can afford to work there long term. No conspiracy just business. That explains why they have hired more people to work at SKW in the past three years than are currently employed by the company. Walmart has better retention than SKW. For those few who are able to rise to management jobs life is better. I'm not saying how they conduct their affairs isn't good business for stockholders. I am saying the company could be a much better place to work if management had different priorities. Who knows, if they had different priorities maybe they would be even more profitable. I am not using scare tactics, just pointing out the facts. If I am scaring you it is from the conclusions you draw from the information I supply.
If you think you are being treated well enjoy the Koolaid, SKW is the best I've ever seen at pouring it.......