This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

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 however 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.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs