Article Warns: NCR Corp.: Major Accounting Issues, Excessive Leverage And Limited Strategic Alternatives Point To 45-70% Downside

Employees of NCR: This article is VERY troubling, and not good news but I still think you should at least be aware of what is being written about NCR .

http://seekingalpha.com/article/3093226-ncr-corp-major-accounting-issues-excessive-leverage-and-limited-strategic-alternatives-point-to-45minus-70-percent-downside

The Author’s analysis stated:

  • Using behavioral analysis, we observe many striking similarities between what unfolded during Nuti’s tenure at Symbol and NCR’s current predicament, including: 1) hiring of numerous former Symbol associates, 2) issuing overly optimistic guidance, 2) aggressive accounting, 3) questionable Brazilian dealings, 4) restructuring announcement and 5) liquidation of shares ahead of a major stock decline.

An Array Of Accounting Gimmicks Appear To Be Overstating Its Financials

And Also:

Recent Events At NCR Appear To Mirror Past Outcomes At Symbol Technologies

Industrial Democracy: What does it mean? Why would I want it?

The phrase: “To Promote Industrial Democracy” was one goal of the National Labor Relations Act and allows a way for employee’s to empower themselves.

Usually they are employees who value their rights and realize they can choose not to give up their rights each time they report to their workplace.                Simplified-the idea of not having to leave your democracy at home or out in the employee parking lot. You bring that democracy right into work with you!

So, anyone with a love of democracy and rights….You may want to consider finding out more.

You might not have even realized that it was happening! I don’t know how or why it began, but somehow, it has become the norm.  People rarely stop to question it until pointed out. But you have to ask yourself how we became willing (in a country willing to wage war in defense of the same rights and freedoms) and agreed to relinquish our rights and protections just because we report to our workplace?

See the comparison below of the rights you have:

Your Rights Outside the workplace VS. Your Rights as an At-Will Employee (not under employment contract)

Constitutionally Guaranteed Rights: Outside the Workplace:

  • Right to Privacy (free from unreasonable searches and seizures unless their exists probable cause)
  • Right to Vote (A voice when creating policy that effects you)
  • Right to receive Due Process  (be informed of the nature and cause of the accusation; to be confronted with the witnesses against him,not be deprived of life, liberty, or property,) 6th Amendment
  • Right to Free Speech (the freedom of speech, the right to peacefully assemble, and to petition for a redress of grievances.)
  • Presumed Innocent Until Proven Guilty

Welcome to the At-Will Workplace. Come on in…..Here’s what you get:

  • At-Will Employment (free to quit and free to be fired at anytime, be it first day or after 30 years, no cause is necessary or required to be provided )
  • No right to vote (Employee’s voice/ input need not be considered when making decisions that will significantly effect them)
  • No right to receive any Due Process (Policy and rules don’t have to be fairly or equally enforced, management is free to enforce rules unjustly, play favorites when giving raises or lay offs. Work hard, but you will likely make less if they don’t like you even if performing well.)
  • No right to be presumed innocent (you could be innocent-but you do not have any right to present your defense to charges. Similar to presumed guilty unless your boss is willing to believe you. Could be highly unlikely depending on his mood.)

John Bruno: Speaks on CE Conference Call Before Union Vote in North East 125

He claims to have walked in the shoes of a CE and understands how you feel. Highly unlikely, This guy is from Nutti’s good ole boy’s club.  He’s was brought over from Symbol Technologies. 

Don’t just believe me, read it for yourself.

Click the link below to see what’s in his employment contract before you consider believing his story.

. http://www.faqs.org/sec-filings/100429/NCR-CORP_10-Q/dex108.htm

Remember, that he has a contract while convincing you, that you don’t really need one.  

But who is he? NCR’s Executive Vice President. His 1st day with NCR was Nov 29,2008.  

About the same time that the CE III’s were elimination and re-banding was announced.

 What did he make to start ? You’ll be shocked!!

(Don’t forget Symbol was not in good shape when Nutti left, and was being investigated for over inflating the price of stock.)

In 2009 he made- $2,907,035

 His Annual Base Salary –$750,000 US Dollars per year

Sign-On Bonus$1,300,000 cash sign-on bonus

Hiring Equity Award

New hire equity grant with a total value of $4,000,000 US Dollars. 

Management Incentive Plan for Executive Officers –Eligible for a target incentive award of 100% of your base salary, with a maximum potential payout of 250% of your base salary.

Mr. Bruno was Symbol Technologies- Senior Vice President, Corporate Development, from May 2004 to June 2005, and was Symbol Technologies- Senior Vice President, Business Development, and Chief Information Officer, from November 2002 to May 2004.    http://people.forbes.com/profile/john-bruno/125711

Part II- Response to NCR’s policy on Unions

These Questions and Answers were distributed to Employees by NCR during the election that took place in California. NCR claimed they were providing – “The Facts about Unions”

I must give credit, where credit is do. I assure you, this information was written by some of the very highest paid spin doctors out there. They are brilliant in fact, and very, very good at playing word games like this.

Allow me show you what I mean. Only my comments will be a color other than black so you can tell what they wrote and what I wrote. Okay?

NCR’s Form Said…

Question #1: If a union somehow gets in and I decide I don’t like it, can union members vote a union out?

The Answer they gave was: “Be careful.  There are several reasons why it’s almost impossible to get rid of a union: If a union comes in and negotiates a contract with NCR on your behalf, you could not get rid of the union for the term of the contract, usually 2-3 years, no matter how unhappy you are.


My turn: Okay, I will admit…. as written above, I can not say it is false.

But WAIT. HOLD ON! ! Look closer: 

First-               Stop to consider what it really is saying. It is actually saying that it’s  not impossible to get rid of a union, because it’s actually the same procedure you use to vote a Union in (minus the employer fighting you on it). So it would actually be easier.                   (You Sign cards, File with NLRB , Hold an Election, and Need 50% +1.)

Second–        If you WIN your election, and a contract is negotiated on your behalf, you will then review it, and vote again to accept or reject the contract.

It’s either Yes or No.

So, as long as you don’t vote Yes on a contract that makes you unhappy, it’s safe to assume you only voted yes, because you were happy with the terms.

Don’t you want the terms of the contract to be legal, binding, and enforceable? Otherwise what’s the point of the signed contract?

Just as you would be bound for the length of the contract, SO WOULD NCR!

AND THAT MEANS NCR CAN NOT REDUCE, CHANGE, OR CANCEL, Your PAY RATE, RAISES, OR BENEFITS DURING THE CONTRACT LENGTH.

This is the democratic process, where you get a voice, and that vote still matters.     It’s what having a union is all about.

You keep the power to Accept or Reject the contract.

I hope this helped to straighten out this mess….

I told you they were sneaky, didn’t I?

New England 125 CE Campaign files for 2nd Election   

By Michelle Teeter

Boston, Massachusetts: On Monday May 17th, the IBEW filed a petition on behalf of the New England 125 region CE’s.

This step was made possible by the CE’s themselves, perseverance, and their continued interest in being represented by the IBEW.

For more information on the election process, watch this video from the NLRB: http://www.nlrb.gov/Workplace_Rights/Conducting_an_Election.aspx

Chris Cheadle’s Last Union Busting Run at NCR

CE’s: Here’s what an Employer Education Meeting about the Union is really like:

This is a recording of Chris Cheadle during NCR’s Union Education Meetings.

He’s a smooth talker, but what he is saying, was not only meant to threaten the employees, it was actually illegal.

A week after making this public, NCR had to send him on his way and back to Australia.

Bon Voyage Chris

Mr. Cheadle: If you have to keep reminding someone that you aren’t threatening them….it probably means that you are threatening them.

You say you won’t do anything to sell out the rest of the CE’s. What do you eliminating all the CE 3’s was?

Everyone Remember his words: He doesn’t think we need a union because we’ve got management to represent us!

2:58 seconds into the audio: Finally-something that’s true.

“They (the union) will be the people representing your views. They’ll put their claims down..”  It’s correct that your union representation is about your views- what’s in your best  interests while your managers goals are much different like reducing labor, reducing overtime, pushing higher productivity.

CE’s don’t benefit from these things, but we work hard to achieve them.  Having a union means the interests of the workers have a voice.

You have everything to gain.

Follow the Lead of Workers in these respected Industries: Teachers, Cops, Firemen, Pilots, Electricians, Nurses

All Good Jobs and All Union Strong.

You Can Be Too!