Zanesville Lear Plant Sinking FAST!!!!!!

Zanesville Lear Plant Sinking FAST!!!!!!

Posted in the Lear Corporation Forum

MOLDING GONE

United States

#1 Aug 18, 2007
I remeber when I was in the office one day and over heard a conversation w/Lynn,Charlie,and a few others and they were saying how they were not going to say anything to the people till it happend and Im sure they were talking about the closing of the plant. They are not going to tell the people anything just like they dont have the ball's to tell the company people they are getting rid of them they just tell them come on lets go for a walk and walk them to the door and ask them not to come back. What are the people going to do show up for work one day and the id badge no longer let anyone in? Get some Ball's and let your workers know what the hell is going on you cowards
fk sidney

Girard, OH

#3 Aug 19, 2007
fk lear
sassy

United States

#4 Dec 23, 2007
HOW ABOUT FK THE GOVERMENT THAT ALLOWED LEAR TO DO THE THINGS THEY HAVE TO MAKE MONEY
just a number

Steubenville, OH

#5 Mar 19, 2008
CEO gets boost in pay
By JEWEL GOPWANI
Detroit Free Press

Lear Corp. Chairman and CEO Bob Rossiter was paid $6.1 million in 2007, 31 percent higher than in the previous year.

The boost in pay for Rossiter and most of the company's top officers comes in a year that Lear made $241.5 million - nearly a $1-billion improvement from a $707.5-million loss in 2006, as the company reaped the benefits of unloading most of its money-losing interiors business.


Lear makes electrical systems at its facility on Linden Avenue in Zanesville.

The pay increase mainly comes from rising bonuses triggered by the company exceeding cash flow and operating-income goals, the Southfield automotive seat maker said in a filing Monday with the Securities and Exchange Commission.
Rossiter's bonus rose from $825,000 in 2006 to $2.3 million last year. Rossiter's overall compensation does not include stock options and changes in the value of his pension, although some other media outlets include them.

His $6.1 million comprises his salary, bonus, restricted stock awards and other compensation, such as use of Lear's corporate jet.

Lear Vice Chairman James Vandenberghe's compensation rose nearly 35 percent to $3.9 million. Vandenberghe's bonus nearly tripled, to $1.3 million, compared with $462,500 in 2006, which combined a performance and discretionary bonuses. Vandenberghe plans to retire in May.

The board awarded only one discretionary bonus in 2007, which went to its new chief financial officer, Matthew Simoncini. It used them widely in 2006, but in 2007, Lear tied more of its incentives to the company's performance.

Companies are increasingly linking bonuses to financial goals to appease shareholders, said Dan Moynihan, principal at Compensation Resources Inc. in New Jersey.

"You're going to see a bigger pressure on performance-based pay, which ultimately should lower compensation," Moynihan said, in light of the falling fortunes of many auto suppliers.

Lear's filing also showed that billionaire investor, Carl Icahn, who tried to buy Lear last year, owns 12.3 million shares or nearly 16 percent of Lear's stock, and is the company's largest shareholder.
roadkill

Watertown, WI

#6 Jul 8, 2008
lear sucks

Since: Jul 08

Detroit, Michigan

#8 Jul 24, 2008
i ve just read people are getting 9 $ an hour in Zanesville... are u serious?
who cares

Lower Salem, OH

#9 Jul 24, 2008
no zanesville gets more then 9 dollars but pretty soon there won't be a plant in zanesville. everything is going to mexico or china

Since: Jul 08

Detroit, Michigan

#10 Jul 25, 2008
electronics also?
do you really think they are gonna let us all in the streets?
what about warehousing? they must leave something here in the US...
Just a number

United States

#11 Feb 18, 2009
Just a quick update about the Zanesville Lear plant. The Company and the Union sat down last week and talked about our severence pay. We then met on Saturday at the plant and voted we will receive a weeks pay for every year we have been there up to 35 years. Don't get me wrong I am very happy that I will get at least my 35 years but one thing I still can't understand is that our Ex Union President is also getting this he no longer works for the Lear Corp. He is working for the IAM that is where he recives his paychecks from. They are calling it a Union Leave but he wrote a letter when he left the company about moving on to a new job. When ever anyone else left the plant to work another job they were removed from the seniority list not him. I just can't understand how someone who no longer works for the company can receive severence pay. And the poor people on leave with no call back date receive nothing.
bush

Pittsboro, IN

#12 Feb 18, 2009
Just a number wrote:
Just a quick update about the Zanesville Lear plant. The Company and the Union sat down last week and talked about our severence pay. We then met on Saturday at the plant and voted we will receive a weeks pay for every year we have been there up to 35 years. Don't get me wrong I am very happy that I will get at least my 35 years but one thing I still can't understand is that our Ex Union President is also getting this he no longer works for the Lear Corp. He is working for the IAM that is where he recives his paychecks from. They are calling it a Union Leave but he wrote a letter when he left the company about moving on to a new job. When ever anyone else left the plant to work another job they were removed from the seniority list not him. I just can't understand how someone who no longer works for the company can receive severence pay. And the poor people on leave with no call back date receive nothing.
Kick backs!
Huntington Plant 2002

Rochester, MI

#13 Apr 14, 2009
Hey Zanesville Lear Employees!
I was one of the employees at the Lear Huntington plant who started the junction box program for Lear. We were closed in 2002 when the Huntington / Peru consolidation at Zanesville was supposed to save so much money, save American jobs and be better for the company as a whole. We even got Mark as a plant manager to "lead the way" to Zanesville. I feel bad if Zanesville is closing, we went through it. In our closure, we were all given WARN Act notices in December and then told that there would be layoffs monthly, but you didn't know when you were going to go. I ended up leaving for another job rather than be a pall-bearer for a severance check. I wish you all luck and hope the best for you... btw.. I am doing better now even thgouh I thought at the time it was going to be devastating to me and my family. "Every new beginning was something else's end". Best of luck!
Thankful

Sidney, OH

#14 Apr 14, 2009
Huntington Plant 2002 wrote:
Hey Zanesville Lear Employees!
I was one of the employees at the Lear Huntington plant who started the junction box program for Lear. We were closed in 2002 when the Huntington / Peru consolidation at Zanesville was supposed to save so much money, save American jobs and be better for the company as a whole. We even got Mark as a plant manager to "lead the way" to Zanesville. I feel bad if Zanesville is closing, we went through it. In our closure, we were all given WARN Act notices in December and then told that there would be layoffs monthly, but you didn't know when you were going to go. I ended up leaving for another job rather than be a pall-bearer for a severance check. I wish you all luck and hope the best for you... btw.. I am doing better now even thgouh I thought at the time it was going to be devastating to me and my family. "Every new beginning was something else's end". Best of luck!
Thank you for those words of encouragement! So much negativity and anxiousness going on. But people can't help feeling that way.

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