US CEO Ridicules French Workers As Time-wasting
By THOMAS ADAMSON
PARIS (AP) â¿¿ A straight-talking U.S. businessman and a European socialist government were never likely to become the firmest of friends, but a letter from Maurice Taylor, CEO of tire-maker Titan International, blasting the French work-ethic has ruffled France's feathers.
Taylor, who is nicknamed "The Grizz", wrote the no-holds-barred letter to French Industrial Renewal Minister Arnaud Montebourg to explain why his company wouldn't buy part of an ailing Goodyear factory in Amiens. The ministry confirmed the letter as authentic, but attempts to obtain comment from Titan have been unsuccessful.
"I have visited the factory a couple of times," the letter date Feb. 8 reads, according to a copy published Wednesday in Les Echos newspaper."The French workforce gets paid high wages but only work for three hours. They get one hour for breaks and lunch, talk for three and work for three. I told this to the French union workers to their faces. They told me that's the French way!" The Industrial Renewal Ministry had approached Titan to start discussions on buying up part of the Goodyear factory. Taylor's response in the letter was abrupt, to say the least. "How stupid do you think we are?" "Titan is the one with the money and the talent to produce tires. What does the crazy union have? It has the French government." The letter, which refers to French employees as "so-called workers" has prompted a media backlash against Taylor, and even caused the French government to defend itself. In a written reply Wednesday, a copy of which was sent to The Associated Press, Montebourg tells Taylor "your words, as extremist as they are insulting, show a perfect ignorance of our country." "Can I remind you that Titan, the company you head is 20 times smaller than Michelin, the French technology leader with a global reach, and 35 times more profitable? That shows the extent that Titan could have learnt and gained enormously from a French base," Montebourg goes on.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV