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Labor union votes against Steve Jobs' reelection to Disney board

post #1 of 75
Thread Starter 
A prominent federation of labor unions has voted against the reelection of Steve Jobs to the board of directors of the Walt Disney Co., while an influential shareholder advisory firm has questioned whether Jobs is fit to remain on the company's board.

Ahead of the Walt Disney Co.'s annual meeting in Salt Lake City, Utah, on Wednesday, The Los Angeles Times reports that the labor union federation AFL-CIO, which collectively holds 3.8 million Disney shares, has voted against the reelection of Jobs to the media conglomerate's board of directors. Representatives for the union cited Jobs' full-time responsibilities as chief executive at Apple and recent absenteeism, partially due to recent medical complications, as reasons to vote against him.

According to the report, shareholder advisory firm Institutional Shareholder Services stopped short of recommending a vote against Jobs, but questioned whether Jobs' poor attendance at Disney board meetings in recent years has affected his performance as a director.

Jobs poor attendance in three of the past four years, and recent leave of absence from his primary employer, raises questions about his ability to fulfill his responsibilities as a director of the company, ISS wrote in a recommendation to shareholders.

A January regulatory filing from Disney noted that health considerations had prevented Jobs from attending board meetings. After battling pancreatic cancer in 2004, Jobs received a liver transplant in 2009. In January, Jobs announced that he would take a leave of absence from Apple to focus on his health. Jobs remains the CEO of the company, while COO Tim Cook has taken over the day to day operations.

Jobs earned his seat on the Disney board in 2006 as part of a deal whereby the conglomerate purchased Pixar Animation Studios for $7.4 billion. With more than a 50 percent stake in Pixar, Jobs' subsequent 7 percent stake in Disney was valued at $4 billion in 2006. Last August, Forbes estimated Jobs' share of the Walt Disney Co. to be worth $4.4 billion and his total worth to be $6.2 billion, making him the 42nd wealthiest American according to the magazine's annual list.

For its part, Apple has also come under fire from shareholders who demand greater disclosure from the company about Jobs. ISS and the Central Laborers' Pension Fund backed a shareholder proposal that called for Apple to release a CEO succession plan, citing concerns over Jobs' health as cause for greater transparency. However, the proposal was rejected at Apple's annual shareholder meeting in February.
post #2 of 75
Dumb and short sighted Labor Union running their stupid run-book.

He probably has enough shares to stay in but if they vote him out, he can sell his Disney shares and invest in Apple. Let's see how that Labor Union likes them Apples.

Time will tell.
post #3 of 75
Whoopi!

Out of 1.9 Billion shares of Disney they own 3.8 million. Bravo! A whopping .2% of the stock!
post #4 of 75
why would anyone kick out the guy behind Pixar?

It's like Apple kicking out the guy behind Lisa and Macintosh....
post #5 of 75
Of course, let's not leave out the part that without the success of Steve Jobs and Pixar, Disney would have been left for roadkill years ago. Steve Jobs does more in his limited time at any meeting than any other clowns on the board.

Steve Jobs, Apple, and Pixar are intertwined so much, is it really necessary for SJ to actually be on location?

Shortsighted individuals.
post #6 of 75
Well, at least they've been getting a bargain. Steve is the only non-executive board member who is not being compensated. For everyone else, this is a pay job.

Oddly, this is similar to Steve's position at Apple; his annual salary is one dollar.

At least Steve brought something to the table: Pixar. Without them, Disney would have been a world of pain relying on their own animations.
post #7 of 75
Would Jobs even care, I think not. Still has his shares, still has influence, would still get to show his kids Pixar films before anyone else.

Don't have to show up to a meeting, sweet.
you only have freedom in choice when you know you have no choice
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you only have freedom in choice when you know you have no choice
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post #8 of 75
Quote:
Originally Posted by mdriftmeyer View Post

Whoopi!

Out of 1.9 Billion shares of Disney they own 3.8 million. Bravo! A whopping .2% of the stock!

Yes that's funny as Jobs has over 100 million shares in Disney I believe. A bit of a discrepancy in voting strength right there.
post #9 of 75
Considering SJ's clout as a shareholder and board member, why has he not been able to ween Disney's websites from all that Flash-Trash?
Knowing what you are talking about would help you understand why you are so wrong. By "Realistic" - AI Forum Member
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Knowing what you are talking about would help you understand why you are so wrong. By "Realistic" - AI Forum Member
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post #10 of 75
Well since ISS failed to get any interest in their scheme over at the Apple shareholders conference, they will take it out on Jobs directly by attacking him at Disney - and they got the venerable AFL-CIO to buy into their little scheme. Obviously something about how Jobs is running Apple is scaring these folks...
If you are going to insist on being an ass, at least demonstrate the intelligence to be a smart one
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If you are going to insist on being an ass, at least demonstrate the intelligence to be a smart one
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post #11 of 75
Slap in the face much? Wnder what they'd say if he decided to take Pixar off the table and just go else where.
post #12 of 75
He is a genius, any company would be fortunate to have him on their board. This is rather silly.
post #13 of 75
Quote:
Originally Posted by fecklesstechguy View Post

Well since ISS failed to get any interest in their scheme over at the Apple shareholders conference, they will take it out on Jobs directly by attacking him at Disney - and they got the venerable AFL-CIO to buy into their little scheme. Obviously something about how Jobs is running Apple is scaring these folks...

And it won't matter as the rest of the shareholders will soundly vote this motion down.
post #14 of 75
I'm ashamed to be a union member of the AFL-CIO. They are idiots. They would be the first to argue that a sick union member not be fired from his job, but they hypocritically attack a man who is a genius for small flaws. They are carping, small-minded, vinditive, jealous, pathetic. A shame.

Steve
The truth will set you free.
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The truth will set you free.
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post #15 of 75
Is that the best reason they can come up with? Sick leave...


Quote:
Originally Posted by Whozown View Post

Slap in the face much? Wnder what they'd say if he decided to take Pixar off the table and just go else where.

Disney owns Pixar. He will have to buy it back to take it elsewhere.
post #16 of 75
Steve Jobs has spoken out strongly against teacher's unions before and I admire him for speaking his mind against these organized thugs and underachievers a few years ago. Maybe that has something to do with unions not liking Steve Jobs? If you go to the homepage of the union which is against Steve Jobs being on the Disney board, http://www.aflcio.org , they are strongly defending the public union thugs in Wisconsin, Ohio and Indiana, which includes a lot of teachers unions.

"I believe that what is wrong with our schools in this nation is that they have become unionized in the worst possible way," Jobs said. This unionization and lifetime employment of K-12 teachers is off-the-charts crazy."

He also didn't care if it lost Apple some sales in that state:

"Apple just lost some business in this state, I'm sure," Jobs said.

I am glad that the public unions in this country are currently under attack. It's time to disband the thugs. They are leeches on society and they should be destroyed completely.

Steve Jobs is a smart guy, he was against those thugs years ago. They should be met with harsh force if they resort to violence and illegal behavior.
post #17 of 75
Quote:
Originally Posted by bdekok View Post

Yes that's funny as Jobs has over 100 million shares in Disney I believe. A bit of a discrepancy in voting strength right there.

Jobs cannot vote for himself.
post #18 of 75
Quote:
Originally Posted by Apple ][ View Post

Steve Jobs has spoken out strongly against teacher's unions before and I admire him for speaking his mind against these organized thugs and underachievers a few years ago. Maybe that has something to do with unions not liking Steve Jobs? If you go to the homepage of the union which is against Steve Jobs being on the Disney board, http://www.aflcio.org , they are strongly defending the public union thugs in Wisconsin, Ohio and Indiana, which includes a lot of teachers unions.

"I believe that what is wrong with our schools in this nation is that they have become unionized in the worst possible way," Jobs said. This unionization and lifetime employment of K-12 teachers is off-the-charts crazy."

He also didn't care if it lost Apple some sales in that state:

"Apple just lost some business in this state, I'm sure," Jobs said.

I am glad that the public unions in this country are currently under attack. It's time to disband the thugs. They are leeches on society and they should be destroyed completely.

Steve Jobs is a smart guy, he was against those thugs years ago. They should be met with harsh force if they resort to violence and illegal behavior.

Well if anyone knows anything about being an unscrupulous thug, it's Steve Jobs.
post #19 of 75
Quote:
Originally Posted by Storm View Post

Well if anyone knows anything about being an unscrupulous thug, it's Steve Jobs.

He's a demanding guy and knows what he wants. There's nothing wrong with that. He also demands a lot from those working for him. I can see how public unions and their allies would be against that, as they are all about doing as little as possible and stealing as much money as they can from the tax payers.
post #20 of 75
The only way that it would make sense to remove jobs from the board is if he isn't contributing anything. We all know that jobs has a lot to contribute, but I doubt anyone here really knows if he is living up to his potential as a board member for Disney.
post #21 of 75
Quote:
Originally Posted by Apple ][ View Post

He's a demanding guy and knows what he wants. There's nothing wrong with that. He also demands a lot from those working for him. I can see how public unions and their allies would be against that, as they are all about doing as little as possible and stealing as much money as they can from the tax payers.


yes, those greedy teachers with their $50K salaries. Funny how no one goes after principals and superintendents making over $100K (and we all know administrators do very little compared to the grunt workers). I'm sure Jobs would like everyone in America to be like the Chinese employees at Foxconn...subservient, non-threatening, intimidated, and stressed to the breaking point like most wage slaves.
post #22 of 75
Quote:
Originally Posted by ihxo View Post

why would anyone kick out the guy behind Pixar?
It's like Apple kicking out the guy behind Lisa and Macintosh....

No it's not like that. Not at all.
He'll still own the shares and it's not like he can't have coffee over there anymore.
You want a healthy board member.
post #23 of 75
Quote:
Originally Posted by Storm View Post

yes, those greedy teachers with their $50K salaries. Funny how no one goes after principals and superintendents making over $100K (and we all know administrators do very little compared to the grunt workers). I'm sure Jobs would like everyone in America to be like the Chinese employees at Foxconn...subservient, non-threatening, intimidated, and stressed to the breaking point like most wage slaves.

You clearly have no idea what you're talking about.

There's are LOTS of public school teachers that are there to collect their measly paycheck and do nothing all freaking day. They're lazy, don't care about their students, and are protected by their union.

The GOOD teachers are the ones who are promoted to administration. If anything, they're the only ones that you can guarantee are doing something.
post #24 of 75
Quote:
Originally Posted by TimUSCA View Post

You clearly have no idea what you're talking about.

There's are LOTS of public school teachers that are there to collect their measly paycheck and do nothing all freaking day. They're lazy, don't care about their students, and are protected by their union.

The GOOD teachers are the ones who are promoted to administration. If anything, they're the only ones that you can guarantee are doing something.


Not really. Many times, BAD teachers are removed from the classroom and put into administrator positions. This keeps them AWAY from the students in a classroom setting. Districts want to KEEP the GOOD teachers in the classroom. So, clearly you have little idea what you're talking about.
I just love the over-generalizations, as if all teachers = bad teachers. Sure, there are lots of bad seeds, but that's a truth for any industry or occupation. But LOTS of bad seeds do not make a majority, regardless of questionable groupthink.
post #25 of 75
"I believe that what is wrong with our schools in this nation is that they have become unionized in the worst possible way," Jobs said. This unionization and lifetime employment of K-12 teachers is off-the-charts crazy."

Hmmm \

That would explain why this was given iTunes Front-Page Status recently;

http://itunes.apple.com/WebObjects/M...82642&s=143441

"organized thugs and underachievers"

As an educator in Indiana with a Masters in Education, I probably don't fit your definition of underachiever. Let's face it, teachers don't choose the profession intending to make a pile of money any more than police officers, fireman, or other public workers. But blanket statements about unions being "organized thugs" is just feeding the trolls.
post #26 of 75
Quote:
Originally Posted by Storm View Post

Not really. Many times, BAD teachers are removed from the classroom and put into administrator positions. This keeps them AWAY from the students in a classroom setting. Districts want to KEEP the GOOD teachers in the classroom. So, clearly you have little idea what you're talking about.
I just love the over-generalizations, as if all teachers = bad teachers. Sure, there are lots of bad seeds, but that's a truth for any industry or occupation. But LOTS of bad seeds do not make a majority, regardless of questionable groupthink.

Let me just say that Tim's opinion is not groupthink - that's his own POV. Most people realize that admin is cash sink hole whether it's schools or industry - way, way, way too much money is thrown into administration for people that don't actually help either 1) teach the kids or 2) deliver a product.

Personally I'd be all about massively down sizing school administration is there is an opportunity to save the jobs of teachers and, at my school growing up the admins had never been teachers - not the principal, assistant principal, guidance counselor, district superintendent, not a single one of them had ever been a teacher must less "the best teachers." Now I'm sure there are bad teachers and that's really the point - the rest of us that aren't unionized live in a world where if you suck at your job you'll probably get fired and that pushes us to be better. In the union world you strive for tenure and once you get that you can either 1) continue to be a good teacher or 2) become lazy and either way you can't be fired. Ultimately I think what people are asking for is equal treatment - you shouldn't be allowed to keep your job just because you pay someone to CYA and put pressure on your employer - that's a huge waste of the employers money and in the case of teachers it's our tax money.

Union world - get your years, make tenure, relax and milk it (I have personally seen this in action at multiple places)
Right to work - do the best job you can all the time because if any given year your company could have a layoff and it doesn't matter how long you've been there, if they think you aren't pulling your weight you're fired. (i have also seen this in multiple places)
post #27 of 75
Quote:
Originally Posted by montefuego View Post

I'm ashamed to be a union member of the AFL-CIO. They are idiots. They would be the first to argue that a sick union member not be fired from his job, but they hypocritically attack a man who is a genius for small flaws. They are carping, small-minded, vinditive, jealous, pathetic. A shame.

Steve

Exactly. Unions make themselves easy targets when they do stupid hypocritical things.
post #28 of 75
Quote:
Originally Posted by bigmc6000 View Post

Personally I'd be all about massively down sizing school administration is there is an opportunity to save the jobs of teachers

Exactly.

Why does a school need two or more Asst. Principals?
post #29 of 75
Quote:
Originally Posted by hamiltonrrwatch View Post

"I believe that what is wrong with our schools in this nation is that they have become unionized in the worst possible way," Jobs said. This unionization and lifetime employment of K-12 teachers is off-the-charts crazy."

Hmmm \

That would explain why this was given iTunes Front-Page Status recently;

http://itunes.apple.com/WebObjects/M...82642&s=143441

"organized thugs and underachievers"

As an educator in Indiana with a Masters in Education, I probably don't fit your definition of underachiever. Let's face it, teachers don't choose the profession intending to make a pile of money any more than police officers, fireman, or other public workers. But blanket statements about unions being "organized thugs" is just feeding the trolls.

I haven't seen that movie yet, but I've heard that it's pretty damning evidence against the current educational system.

And I don't believe that all teachers are bad. Of course there are some good ones out there. That doesn't change the fact that I believe that public unions in general are bad. I see how they're acting and the kinds of people that are protesting.
post #30 of 75
It's business people. Take your emotion out of it. Would you want someone that hasn't been there 3 out of 4 years running your company?

It's nobody's fault. That's just the way it is and Steve's secrecy about everything doesn't help.
post #31 of 75
Quote:
Originally Posted by Apple ][ View Post

I haven't seen that movie yet, but I've heard that it's pretty damning evidence against the current educational system. And I don't believe that all teachers are bad. Of course there are some good ones out there. That doesn't change the fact that I believe that public unions in general are bad. I see how they're acting and the kinds of people that are protesting.

We agree, sort-of.

I've read a lot of your posts and you're smart enough to know that a "Documentary" can be spun into whatever political agenda you care to endorse.

A lot of the "protesters" that were in Madison were shipped in; that didn't help their credibility, in my opinion. What was not widely publicized was the fact that teachers there had already agreed to a pay cut as well as contributing more money to their pensions and medical insurance. The governor didn't feel that was enough and decided to strip the public employees of their collective bargaining rights. The notable exception were the police and fireman who cut a back-door deal.
post #32 of 75
Quote:
Originally Posted by Storm View Post

yes, those greedy teachers with their $50K salaries. Funny how no one goes after principals and superintendents making over $100K (and we all know administrators do very little compared to the grunt workers). I'm sure Jobs would like everyone in America to be like the Chinese employees at Foxconn...subservient, non-threatening, intimidated, and stressed to the breaking point like most wage slaves.

1) it is not the just $50,000 salary for 9 months of work, it is the seven figure unfunfunded pension that allows teachers to retire younger and with a significantly larger safety net than the private workers footing the bill.

2) It is also abou the teachers unions resisting change in a system that is clearly broken and failing our children and our country.

3) We are upset with ALL public employees who are taking too much in salary and benefits, and yes the obscene salaries superindents are collecting are high on the list. The govenor of NY has proposed capping their 6 figure salies at $150k which is a start, but certainly not enough.
post #33 of 75
Quote:
Originally Posted by AIaddict View Post

1) it is not the just $50,000 salary for 9 months of work, it is the seven figure unfunfunded pension that allows teachers to retire younger and with a significantly larger safety net than the private workers footing the bill.

I can only speak from my experience, but my retirement pension will be half of what my regular salary is now, (nowhere close to the $50k you mention ) as is the case with most teachers in Illinois and Indiana. You'll find a lot of retired teachers doing substitute work in their districts to make ends meet.

And it's a common misconception that teachers work 9 months out of the year. In our state, we're required to accrue a certain number of CPDU's (Curriculum Professional Development Units) each year. Which means I'm working over the Summer. In fact, there's no other profession that I'm aware of that requires their members to go through so much additional work just to re-certify and get our licenses renewed.
post #34 of 75
Quote:
Originally Posted by Market_Player View Post

Jobs cannot vote for himself.

Uh... of course he can. Perhaps you are confusing corporate governance with the rules for 4th grade class elections or the Top Shot elimination round?
post #35 of 75
Quote:
Originally Posted by Storm View Post

Not really. Many times, BAD teachers are removed from the classroom and put into administrator positions. This keeps them AWAY from the students in a classroom setting. Districts want to KEEP the GOOD teachers in the classroom. So, clearly you have little idea what you're talking about.
I just love the over-generalizations, as if all teachers = bad teachers. Sure, there are lots of bad seeds, but that's a truth for any industry or occupation. But LOTS of bad seeds do not make a majority, regardless of questionable groupthink.

And they are promoted instead of being fired because...?

Take your rhetoric to the political forum.
post #36 of 75
Quote:
Originally Posted by bdkennedy1 View Post

It's business people. Take your emotion out of it. Would you want someone that hasn't been there 3 out of 4 years running your company?

It's nobody's fault. That's just the way it is and Steve's secrecy about everything doesn't help.

You're reading WAY too much into "Jobs poor attendance in three of the past four years." I believe that just means he missed more than 25% of the meetings for 3 of the past 4 years. Obviously perfect attendence would generally be preferred, but it's not that he's been "out for 3 years."

Would I want the man associated with two of the most successful companies in the world, who has more "CEO of the xxxxx" awards than you can shake a stick at, advising my company? Who wouldn't?
post #37 of 75
We are witnessing the dumbing down of shareholder capitalism in the US.

With 'friends' like ISS and the unions presuming to speak for shareholders, who needs enemies!
post #38 of 75
I see the Union's point. Namely, you want Board Members to be active in the Company. However, what they fail to understand is being a Board Member for most companies requires very little actual attendance. Many Boards only meet four times a year. Further, being a Board member isn't a full time job. Many of the Board Members on Apple's Board for example have other gigs.

More importantly, Jobs interests as being Disney's largest shareholder clearly is aligned with the Shareholders. Jobs has also contributed to Disney by spearheading the Disney Store remodeling to make the stores more of destination places like Apple Stores.
post #39 of 75
I agree the Union's position in this particular matter seems odd. However, as a shareholder, the Union can take whatever position it wants as could you if you buy shares. On its face, the Union's position makes sense: namely you want Board Members to be active in the company. For my reasons listed earlier though, in Jobs case those reasons don't make sense.



Quote:
Originally Posted by montefuego View Post

I'm ashamed to be a union member of the AFL-CIO. They are idiots. They would be the first to argue that a sick union member not be fired from his job, but they hypocritically attack a man who is a genius for small flaws. They are carping, small-minded, vinditive, jealous, pathetic. A shame.

Steve
post #40 of 75
Quote:
Originally Posted by AIaddict View Post

1) it is not the just $50,000 salary for 9 months of work, it is the seven figure unfunfunded pension that allows teachers to retire younger and with a significantly larger safety net than the private workers footing the bill.

2) It is also abou the teachers unions resisting change in a system that is clearly broken and failing our children and our country.

3) We are upset with ALL public employees who are taking too much in salary and benefits, and yes the obscene salaries superindents are collecting are high on the list. The govenor of NY has proposed capping their 6 figure salies at $150k which is a start, but certainly not enough.

Teacher's pension are under funded because state legislatuers fudge the numbers over the years to make the budget looks nicer, not because Teachers take an inordinate amount of money. Plus, teachers require 30 years of service to fully vest in their pensions. So where is the retiring young part coming in? Also, teachers pay the same tax as you and me, so don't go off talking as if they are not tax payers too.

What's clearly failing our children is not the teachers, but the education system set up by legislators, school boards, and generally a host of other parties that have nothing to do with teacher's union. Teacher's union contribute part of the problem, but they are not the whole problem.

If you are upset that ALL public employees are taking too much in salary and benefit, then I can safely say you are probably brainwashed. MOST common public employees takes lower salaries compared to their private sector counter parts. Benefits are better, but it's the tradeoff for taking a lower salary, more restraint in daily work, and putting up with more than their fair share of ignorant people. Those that have high salaries are usually elected officials, appointees, and high level managers who are friends of elected officials and appointees. And all the people spouting FUD that public employee salary and benefits needs to be cut are using these decidedly NOT common employees as example.

If you are really angry about how public money's been wasted, start questioning why it's always people who make middle of road income who needs to feel the pain, while the richest of the rich needs to get tax cuts. yeah, yeah, we all heard the theory that we need to lower tax for those people so they can wisely invest the money. But taking that theory to extrem, why not get rid of their tax all together? If lower their tax by a few percentage help the economy, then completely eliminating it must do wonders to the economy, right? Well, at least that makes filling tax easier for everyone, so at least there's one benefit.
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