Teamsters Attempt to Oust FedEx's Fred Smith
09-28-2010, 09:57 PM
#1
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Teamsters Attempt to Oust FedEx's Fred Smith
I found the following article on humanevents.com. It seems that if the Teamsters can't convince enough drivers to unionize, they'll try ousting Fedex CEO Fred smith from running the company he founded, by a back-door attempt using stock shareholder proxies.
Teamsters Attempt to Oust FedEx Founder & Chairman Fred Smith from Co.
Posted by LaborUnionReport (Profile)
Monday, September 27th at 7:30PM EDT
58 Comments
They’ve been agitating for a complete redistribution of wealth and power for more than 100 years. Now, they’re getting pretty darn close to accomplishing it.
Following the AFL-CIO’s August attempt to fire Michael Dell at Dell Computers, the Teamsters have gone gunning for the founder of FedEx, Chairman Fred Smith.
From the Teamsters’ press release:
At FedEx Corporation’s [NYSE: FDX] annual meeting today the Teamsters’ shareholder proposal to appoint an independent board chairman received 35 percent support according to results announced at the meeting. This marks a big leap in investor support for the proposed reform which received 27 percent support in 2009.
Excluding shares held by FedEx founder, Chairman and CEO Fred Smith and his business enterprises, 38 percent of the votes cast were in favor of the Teamsters’ proposal—a significant vote for change on the FedEx Board.
“Shareholders are growing tired of Chairman Smith’s stranglehold on the FedEx board,” said Teamsters General Secretary-Treasurer C. Thomas Keegel. “It’s time for independent board leadership at FedEx.”
This ties into AFL-CIO boss Richard Trumka’s statement on Friday that…
"we need to fundamentally restructure our economy and re-establish popular control over the private corporations which have distorted our economy and hijacked our government. That’s a long-term job, but one we should start now".
Well, they do seem to be on their way, don’t they?
Very interesting tactic, eh?
Teamsters Attempt to Oust FedEx Founder & Chairman Fred Smith from Co.
Posted by LaborUnionReport (Profile)
Monday, September 27th at 7:30PM EDT
58 Comments
They’ve been agitating for a complete redistribution of wealth and power for more than 100 years. Now, they’re getting pretty darn close to accomplishing it.
Following the AFL-CIO’s August attempt to fire Michael Dell at Dell Computers, the Teamsters have gone gunning for the founder of FedEx, Chairman Fred Smith.
From the Teamsters’ press release:
At FedEx Corporation’s [NYSE: FDX] annual meeting today the Teamsters’ shareholder proposal to appoint an independent board chairman received 35 percent support according to results announced at the meeting. This marks a big leap in investor support for the proposed reform which received 27 percent support in 2009.
Excluding shares held by FedEx founder, Chairman and CEO Fred Smith and his business enterprises, 38 percent of the votes cast were in favor of the Teamsters’ proposal—a significant vote for change on the FedEx Board.
“Shareholders are growing tired of Chairman Smith’s stranglehold on the FedEx board,” said Teamsters General Secretary-Treasurer C. Thomas Keegel. “It’s time for independent board leadership at FedEx.”
This ties into AFL-CIO boss Richard Trumka’s statement on Friday that…
"we need to fundamentally restructure our economy and re-establish popular control over the private corporations which have distorted our economy and hijacked our government. That’s a long-term job, but one we should start now".
Well, they do seem to be on their way, don’t they?
Very interesting tactic, eh?
09-29-2010, 02:27 AM
#2
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Two to one fail, even though they ignored Mr. Smiths's 6% of the vote. This type of activity and statement tends to give off an air of criminal enterprise and harkens back to their long history of RICO convictions.
Most curious of all is how they have aligned themselves with other fellow travelers: Internationalist Group -- Reforge the Fourth International!
Most curious of all is how they have aligned themselves with other fellow travelers: Internationalist Group -- Reforge the Fourth International!
09-29-2010, 03:20 AM
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Posts: 3,527
"we need to fundamentally restructure our economy and re-establish popular control over the private corporations which have distorted our economy and hijacked our government. That’s a long-term job, but one we should start now".
I beleive this was tried around 1913 and it did'nt work out so well.
Fred
I beleive this was tried around 1913 and it did'nt work out so well.
Fred
09-29-2010, 04:27 AM
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Originally Posted by DYNASTY HVY
"we need to fundamentally restructure our economy and re-establish popular control over the private corporations which have distorted our economy and hijacked our government. That’s a long-term job, but one we should start now".
I beleive this was tried around 1913 and it did'nt work out so well.
Fred
I beleive this was tried around 1913 and it did'nt work out so well.
Fred
09-29-2010, 05:39 AM
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Joined APC: Nov 2006
Position: 767 FO
Posts: 8,047
Originally Posted by DYNASTY HVY
"we need to fundamentally restructure our economy and re-establish popular control over the private corporations which have distorted our economy and hijacked our government. That’s a long-term job, but one we should start now".
I beleive this was tried around 1913 and it did'nt work out so well.
Fred
I beleive this was tried around 1913 and it did'nt work out so well.
Fred
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