LSI loses $14 million in quarter

LSI Corp., which bought Agere Systems last year, swung to a loss in the first quarter and said it would report a loss in the current quarter as well.

[Losers]

Interesting this company's earlier identities decided to go offshore as a way of returning to profitability. This, meaning, the CEO's profitability. By the outsourcing actions, they decimated the profitability of thousands of loyal workers who sought to raise families and support the local economy.

We continue to read of the misadventures of the remaining LSI/Agere/Lucent/AT & T/ Western Electric losers. Perhaps it is time for another name change?? People have realized that, like each of its former entities, LSI is still a pig. Putting lipstick on the pig doesn't seem to help.

I wonder at what point these managers will admit they are clueless on how to run a company in a profitable (not just for them but for their shareholders) way. Of course, this is not part of the "Lessons on Corporate Greed" they seem to all study in their orientation process. They line their own pockets, employ workers overseas who are paid embarassingly low wages, and then, when people realize their incompetance and dismiss them, they ride away, like the Pig Dickson, on their golden parachute.

This corporation, and its historical line of companies, could make a stunningly hilarious book, if the whole thing weren't so tragic.

[Ollie North]

John DICKson's legacy just keeps on giving!

[Dennis Mac]

Losers wrote:

Interesting this company's earlier identities decided to go offshore as a way of returning to profitability. This, meaning, the CEO's profitability. By the outsourcing actions, they decimated the profitability of thousands of loyal workers who sought to raise families and support the local economy.
We continue to read of the misadventures of the remaining LSI/Agere/Lucent/AT & T/ Western Electric losers. Perhaps it is time for another name change?? People have realized that, like each of its former entities, LSI is still a pig. Putting lipstick on the pig doesn't seem to help.
I wonder at what point these managers will admit they are clueless on how to run a company in a profitable (not just for them but for their shareholders) way. Of course, this is not part of the "Lessons on Corporate Greed" they seem to all study in their orientation process. They line their own pockets, employ workers overseas who are paid embarassingly low wages, and then, when people realize their incompetance and dismiss them, they ride away, like the Pig Dickson, on their golden parachute.
This corporation, and its historical line of companies, could make a stunningly hilarious book, if the whole thing weren't so tragic.

CEO's salary/bonus is usually dependent on growth of the bottom-line. In many cases, companies achieve great cost savings by offshoring.

In this case? UUUUUhIDunno!

[Dennis Mac]

Oh, and BTW: Those "embarassingly [sic] low wages" you mention are way less than the Union a-holes here were wanting!

Are you actually looking for humanitarianism in the offshoring process? Can you really be that naive?

[Reality]

Dennis Mac wrote:

Oh, and BTW: Those "embarassingly [sic] low wages" you mention are way less than the Union a-holes here were wanting!
Are you actually looking for humanitarianism in the offshoring process? Can you really be that naive?

Once again, someone needs to throw insults at others instead of focusing on the original article. It is clear to see where the abuse lies. It is clear the management of the company probably could not effectively arrange an egg on toast. They claimed they could not afford union salaries for wageearners here, but somehow they continue to line their own pockets with their own personal fortunes, on the backs of underpaid individuals overseas. This, dispite the fact that they can seem to earn reasonable earnings for shareholders.
Their argument regarding excessive union wages needing to be avoided to achieve profitability does not hold water. Your wish to redirect the continued laughable performance of this company at the feet of union workers is far beyond misdirected. As they are no longer on the payroll, why bring them into this story? The company, its managment, and those who wish to advocate for them (here, against union workers who formerly paid local, state, and federal taxes to fund our communities, schools, and other locals businesses) ARE LOSERS. Focus on where the fault lies, with the continued mismanagement by those still employed. If the low wages paid overseas were to be the salvation of this company, um, what happened?

And no, I'm not naive in expecting humanitarian behavior by these individuals. I'm underlining that quality in them. It does speak for itself. This, contrary to a lot of good works former union employees used to support. Those union workers were some of the most charitable, caring individuals I had ever met. Hopefully the chinese and indians are sending their dollars this way instead, to replace those lost to the ciommunity by outsourcing. Clearly, the local managment here won't be contributing out of their greed and excesses to make up for what the unions used to do.

[Dennis Mac]

Reality wrote:

<quoted text>
Once again, someone needs to throw insults at others instead of focusing on the original article. It is clear to see where the abuse lies. It is clear the management of the company probably could not effectively arrange an egg on toast. They claimed they could not afford union salaries for wageearners here, but somehow they continue to line their own pockets with their own personal fortunes, on the backs of underpaid individuals overseas. This, dispite the fact that they can seem to earn reasonable earnings for shareholders.
Their argument regarding excessive union wages needing to be avoided to achieve profitability does not hold water. Your wish to redirect the continued laughable performance of this company at the feet of union workers is far beyond misdirected. As they are no longer on the payroll, why bring them into this story? The company, its managment, and those who wish to advocate for them (here, against union workers who formerly paid local, state, and federal taxes to fund our communities, schools, and other locals businesses) ARE LOSERS. Focus on where the fault lies, with the continued mismanagement by those still employed. If the low wages paid overseas were to be the salvation of this company, um, what happened?
And no, I'm not naive in expecting humanitarian behavior by these individuals. I'm underlining that quality in them. It does speak for itself. This, contrary to a lot of good works former union employees used to support. Those union workers were some of the most charitable, caring individuals I had ever met. Hopefully the chinese and indians are sending their dollars this way instead, to replace those lost to the ciommunity by outsourcing. Clearly, the local managment here won't be contributing out of their greed and excesses to make up for what the unions used to do.

The sad fact is that today, management's only obligation is to the shareholders. Whether or not you agree, believe that it SHOULD be otherwise, that's the fact.

I agree with your assessment that the company is bleeding to death, even without Union labor. For that alone, the CEO should be "given the shoe".

However, offshoring is a widely-accepted cost-cutting practice in modern industry, so it's going to continue until Americans can compete with those who earn those piss-poor wages overseas. Their wages are low BY OUR STANDARDS, and therein lies the root of our problem here in the US.

[Reality]

Yes, management has an obligation to the shareholders. You appear to concede that, despite their assertions (lies), the throwing out the baby and the bath water has not produced the profits they pretended to be chasing. Union busting was their real purpose, and, though they achieved it, it wasn't much of a pot at their end of their imagined rainbow.

And yes, you mentioned "by our standards". People dream of getting passports/visas to come to our land of opportunity, and to escape their poor standard of living in other parts of the world. Interesting to note that our politicians, in legally permitting outsourcing, is causing the economies of the world to approach the same level; trouble is, the foreign ones aren't rising, ours is dropping like a piece of lead.

I'm not saying all this as an exercise in typing, but simply to point out that our paid politicians are leading us down a very unfortunate path. Compare our economy and the typical newspaper of the 1950's with one from today. Also note that, as hope for a bright future dims, crime rises, and ultimately class warfare results, particularly when the wage/hope gap becomes a chasm.

I believe I see things clearly as they are, I am just pointing out where we are and trying to suggest what we've learned not to do next time. Can you do the same?