And that is how the uneducated react to something over their heads......they attack the poster and ignore the post. Do you want voting rights or not? Do want common shares (voting rights) or preferred shares (non-voting)???
ABF | Watch that ABF stock price rise.
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canaryinthemine
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Preferred stockholders generally vote through proxys. Common stockholders are sent voting statements that might as well apply to the planet Mars. They are given a choice to ....vote....on people recommended by preferred stockholders.
The ..."payments tend to be higher.."....is a vast understatement. It should read; "Payments (Dividends) tend to be VASTLY higher than Common stock dividends."
Preferred stockholders are company upper management either through outright ownership of preferred stock,...or proxys holding preferred stock in the manager's behalf. And,.....voting on behalf of the manager,...by proxy. Preferred stock is generally not available for purchase by company employees below a.....certain pay grade/status.
Two grades of stock. One is not available to the ...Hoi-polloi/ touch-labor employee/general public.........BOTH are available to upper management/investment groups/ insiders...............One grade is worth eversomuch more than the.....other grade.....
You can..."vote".....on proposals/people with COMMON stock.......that the...PREFERRED shareholders propose/create..........that is,...if you can even "understand" what your proxy statement/ proposal is,.....or even if the people you're voting on have a shred of decency or morals...or even outstanding warrants against them.......if you don't feel like devoting a few 10 hour days worth of research on the Internet so that you can make an "informed" choice......
You're the guy with the MBA. Has any of your professors discussed the inherent inequality between common and preferred stock?
Anyone mention how the general common stock holder has no where near the experience to make an..."informed"...decision on stocks they own?
There are legions of..."Day Traders"........who thought they were....smart....enough to beat Wall Street at their own game,........who are now flooding bankruptcy courts.........
Know what you don't know canary. You drew a line in the sand putting the "shareholders" on one side and the "employee/victims" on the other side. Clearly one can be both, even when the company offers both common and preferred shares.
In the case of ARCBest what's the ticker for this preferred class of stock you allude?
Yes, we did discussions on common and preferred stock. And we also discussed day trading. Both subjects, and many more (it took 3 years of 3 classes twice a week), were discussed at lengh. That is how I knew you were wrong in your statement that stock ownership and being an employee are mutually exclusive. I can't answer your question on the intelligence of the common stockholder but it does not take me anywhere near 10hrs to read the voting material. Most of the voting material now comes in email and voting is over the internet (unless special request, I believe). And I usually (most years) beat the s&p500 by several percentage points.
canaryinthemine
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I'll defer to your MBA degree. I don't think I said that stock ownership and being an employee were mutually exclusive. Now,....Preferred stock ownership, and being a certain class of employee are mutually exclusive......
Many companies offer company stock purchases through Credit Unions and other programs,......It is always common stock. Dangling "ownership" to employees provides a cash stream for the company. The idea of Preferred stock was created back in the 1890's,...to prevent an "outside" group from wresting control of a company by banding together larger shares of stock than the Boards of Directors had. Preferred stock,.......even though it has no "voting" rights,..........always has much more power than Common stock .
As I said,....I will defer to your MBA....All I have to go on is empirical evidence. If you state that I am unilaterally Full of Crap,.........I would have to accept your conclusion, based on the assumption that you have a Degree that says you know what you're talking about........
Still,....as far as empirical evidence goes,.....you'll have to admit that corporate shareholders of Preferred stock,.....seem to have much greater influence over company direction,......than do thousands of employee Common stock owners.
And,....still deferring to your MBA.....(...and I'm not tweaking you...I respect education..).....I would think that I'd have to spend at least 10 hours a day, searching the internet, reading prospectus, reading company history,...re-reading Milton and Rose Friedman,,...looking at various biographies,............and I still would be querulous about any choice I would be asked to make on a proxy vote statement. That would be me....a complete neophyte,......along with a couple thousand of my co-workers......
I don't think it would be a matter of intelligence,....more a matter of persistence. Kind of like how everyone always looks forward to reading their Homeowner's Insurance policy every year.......
...(...By the way,..you misspelled "lengh".........I AM tweaking you on that.....).......
canaryinthemine
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Howintheheck should I know, Brother? You going to make me slog through AMEX indexes, and machete my way through dense Dow-Jones forests,....to provide you with a statistic,...that I am sure you already know?
Employees are only "victims" when the means to equitable stock purchases are denied to them.......out of a capricious set of "rules"....
That "line in the sand" between shareholders...(....And I am referring to holders of employee-unobtainable Preferred stock, when I say "shareholders"...)....and "employee/victims"..as you colloquially refer to them,.......is rather ancient.....I didn't draw it.....I just pointed it out......
I Always know what I don't know, Brother..........Being such a Smart Ass, ...that's the only thing that's kept me alive.......
I don't think ARCB has preferred stocks. Not all companies due. I wouldn't recommend buying preferred stocks for several reasons. I got this from Wikipedia
"How do You Buy Preferred Stocks?
You buy Preferreds just like you would any stock. Put in an order in your brokerage account and wait. The prime difference with preferred stocks is most trade very “thin” (little volume) so you should always use “limit” orders or you may pay way more than is necessary for your shares." I have owned preferred shares in the past but only for the dividend.
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Brother Canary, you know I respect you and, I hope, you know I would never refer to you in vulgar terms. You should read some company voting material IMO. Most proxies are easy to read with a few voting instructions and no more than 5-7 items to vote on.
This is where you said they are mutually exclusive.
No sir. I think you might be confusing Preferred stock with the issuance of Restricted Stock.
Agreed. When Canary first drew the line in the sand dividing employees and shareholders I asked "Why not be both? They aren't mutually exclusive."
He said I was wrong and then attempted to move the line to somewhere between preferred and common stock as though preferred shares were only available to certain employees. Even if that were true (it is not), ARCB does not offer preferred stocks which makes his point fruitless.
My point is that if you feel ARC Best is making decisions with concerns only to their shareholders, at the detriment of their employees, buy stock.
Speaking of uneducated.
And how is that uneducated? We were posting about the differences in common stock and preferred stocks. Not specificaly ARCB stock! But stocks in general. Muler, do you realize there is a whole stockmarker out there? With thousands of stocks sold everyday around the world? And you are avoiding the question: preferred stocks or common stocks? Voting rights or non-voting?
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No I never heard of the stockmarker.
Muler, I think you have a misconception of what college is about. College is NOT about making people smart. The SAT determines that. College IS about determining your level of commitment!!! Can you follow instructions, can you work alone and in groups, can you do time management, can you multitask multiple subjects, can you handle pressure, can you use what you learned and build on it, are you willing to sacrifice what you want now for future gains, can you do these and many other tasks for years?
Get off your high horse! You wouldn’t be driving a truck if you were smart enough to succeed in being a trader. NO ONE is taking advice from you!
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Now that's funny. Maybe Homesick should have made more of a "commitment" to spelling with his superior education.
You would make a great town cryer and physic. You know so much about what everyone else wants and needs it is a huge surpise that the contract passed. You were so sure it was no vote, no vote and no vote. Yet most ABF employees voted yes. Stunning revelation......NO ONE is taking advice from you! You know nothing about everything.
Yep did all those things when I was in the service didn't need collage to teach me that
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Ok Homesick,now I am really confused. Are you saying that SAC75 is a big cry-baby (town cryer) or somebody that makes announcements in the street (town crier)? Also, if SAC75 is great in the practice of "physics" which is knowledge of nature or how the universe behaves, then obviously he is more educated than you. I assume you meant "psychic" instead of "physic". How on earth do you have all of these college degrees without being able to spell? I guess with all your expertise in the "stock marker" as you called it, spelling is not a requirement of college or finance.
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