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Old 09-10-2011, 07:38 PM   #1
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He's going to **** himself.

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UAW seeking record $10,000 signing bonuses for each member
There was a time when union contract negotiations centered around increased hourly wages and top benefits. Bloomberg reports that the United Auto Workers may be willing to forgo raises in favor of lump-sum payments tied to hitting profitability and productivity targets.

To help sell such a deal to the UAW rank and file, Bloomberg reports that the union could seek signing bonuses of $8,000 to $10,000 per member. On the high end, that's over three times the $3,000 Ford, General Motors and Chrysler union employees received in 2007 when they ratified their current contracts.

Signing bonuses of $10,000 per union worker would cost GM $470 million, Ford $410 million and Chrysler $250 million. Bloomberg reports that, on the automakers side of the negotiating table, "there may be resistance to such a large payout." A UAW spokesperson went on the record to say that talk of the union asking for the larger signing bonuses is "inaccurate and it creates false expectations."

The current UAW contract with the Detroit automakers expires September 14.
*Not taking a position or anything, just thought somebody might be interested.
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Old 09-10-2011, 09:18 PM   #2
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(Posting from my phone.)

Doesn't surpise. Look up the amount of money the teamsters have in the bank.
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Old 09-10-2011, 11:10 PM   #3
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I wish I knew more about labor law in the US. Practices such as this seem quite near to the technical definition of extortion.
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Old 09-11-2011, 12:06 AM   #4
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I wish I knew more about labor law in the US. Practices such as this seem quite near to the technical definition of extortion.
It also legitimizes unions in the eyes of the public. Looking out for the working man is a good thing to support, but the pendulum has swung too far so to speak.
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Old 09-11-2011, 01:48 AM   #5
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They just tryin to get thurrs:

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...at Ford, President and Chief Executive Officer Alan Mulally, took a pay cut in dealing with his company’s financial short comings, but he still earned a base salary of over $1 million last year for his services. For 2009, Mulally’s net compensation was estimated to be nearly $18 million including $1.4 million in salary, $10.9 million in stock awards and $5 million in stock options. While Ford does have a bonus structure in place for executives, Mulally did not receive a bonus in 2009.

In addition, Mulally was allotted use of two vehicles and Ford provided him with housing. Ford allows their top executives use of the company jet for both personal and private matters as a matter of security. All together, Ford estimated these benefits were worth $491,869 in 2009.
http://peninsulapress.com/2011/02/17...ts-1-per-year/

As far as I'm concerned, both sides are a asking for too much, but IMHO there's no job in the world worth a salary in the millions.
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Old 09-11-2011, 02:02 AM   #6
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Gotta pay for the dope and booze somehow.
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Old 09-11-2011, 08:11 AM   #7
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When a company pays an employee a salary that is in the millions of dollars, that is the economic value that they're putting on that employee. They are saying that "without you in this position, our company would have $10,000,000 less profits per year, so you are worth $10,000,000 to us."

Consider that most companies with multi-million-dollar-salary employees are making profits (from the work put in by those employees) far in excess of the amount that those employees are being paid, and it's quite clear that most mutli-million-dollar employees are actually quite a bargain.

The second reason is because of competition (based on the first reason). A fortune 100 company knows that if they only paid their CEO 6 figures, there would be thousands of companies beating down the door to offer their employee more money - and since fortune 100 CEOs exist soely because of profits, they'll take the higher salary quite often.
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Old 09-11-2011, 10:31 AM   #8
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Quote:
Originally Posted by Hoffa Jr.
I think the president should challenge the patriotism of these American corporations that are sitting on the sidelines. The problem in America isn’t that we don’t have enough money. We’ve got more money than any other country in the world. The problem is American businesses not spending it and not getting it in the game.
According to an LM-2 report filed earlier this year, the International Brotherhood of Teamsters, which represents truck drivers and some school employees, ended 2010 with $108,608,477 in the bank. That’s a whopping 24.9% increase in net assets over 2009, when the union reported $86,942,076 in assets.
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Old 09-11-2011, 04:13 PM   #9
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Quote:
Originally Posted by fooger03 View Post
When a company pays an employee a salary that is in the millions of dollars, that is the economic value that they're putting on that employee. They are saying that "without you in this position, our company would have $10,000,000 less profits per year, so you are worth $10,000,000 to us."

Consider that most companies with multi-million-dollar-salary employees are making profits (from the work put in by those employees) far in excess of the amount that those employees are being paid, and it's quite clear that most mutli-million-dollar employees are actually quite a bargain.

The second reason is because of competition (based on the first reason). A fortune 100 company knows that if they only paid their CEO 6 figures, there would be thousands of companies beating down the door to offer their employee more money - and since fortune 100 CEOs exist soely because of profits, they'll take the higher salary quite often.
I understand that perspective, and believe me I'm not against a company wanting to do its best, make moneyz, be all capitalist, etc. I'm fine with that. What I have a problem with overall I guess is that salaries like that do nothing to help close the gap between the employees at the entry/mid levels and the upper admin, if even from a psychological perspective. It creates distrust of the CEOs within the ranks of the shift workers, therefore giving them the "right" to ask for $10K signing bonuses (which I will again say is bullshit) when they see how much loot the CEO is getting from the company. It's still company profit that he/she is taking, and I guarantee you that if a CEO took a "reasonable" (ie not 100x what a shift worker is making) salary/compensation package the morale at the company in general would rise, productivity would rise, and there'd be less of this "I'm gonna get mine" attitude (inasmuch as a huge organization like the Teamsters will allow...they are pretty much a PAC at this point and therefore as greedy as any CEO). It's all just fucked unfortunately, one side's animosity and distrust feeding itself, while the upper level gets farther away from the economic/social reality of the people who actually get their hands dirty.
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Old 09-12-2011, 04:51 PM   #10
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Approximately 50% of the Obamacare waivers granted cover employees of unions even though union workers represent about 12% of the total workforce according to the Bureau of Labor Statistics...

So Jimmy Hoffa's "army" gets the bill passed and now those same 3.4 million union members don't participate in the law. Curious? No. Redistribution. Bought and Paid.
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Old 09-12-2011, 04:56 PM   #11
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Postmaster General Patrick Donahoe is struggling to keep his money-losing organization afloat as more and more people are ditching mail in favor of the Internet, causing the lucrative first-class mail flow to plummet.

...

Donahoe and his predecessor, John Potter, have warned for years of the problems and stressed that the post office will be unable to make a mandated $5.5 billion payment due Sept. 30 to a fund for future medical benefits for retirees.

A 90-day delay on the payment has been suggested, but postal officials and others in the industry say a long-term solution is needed.

Donahoe has one. It includes laying off staff beyond the 110,000 cut in the past four years, closing as many as 3,700 offices, eliminating Saturday delivery and switching from the federal retirement plan to one of its own.

Cliff Guffey, president of the American Postal Workers Union, called the proposal “outrageous, illegal and despicable.”

A contract signed in March protects many workers from layoffs. Guffey said the attempt to change that now “is in utter disregard for the legal requirement to bargain with the APWU in good faith.” Other unions, including the National Association of Letter Carriers, are negotiating their contracts with the post office.
USPS is the victim of the Unions, not the other way around.
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Old 09-12-2011, 04:59 PM   #12
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Big Labor is anti-jobs.

Quote:
  • Unionized firms have profits that are 10% to 20% less than non-unionized firms
  • Capital investment of an average unionized firm is 6% lower than that of a comparable nonunion firm
  • The average unionized firm made 15% lower annual expenditure on Research & Development
  • In studying 510 manufacturing firms, median growth of non-unionized firms was 27%, while the growth rate of unionized firms was zero.
http://www.upjohninst.org/publicatio...les/luepf.html
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Old 09-12-2011, 05:05 PM   #13
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http://www.publicschoolspending.com/...ISTA-chart.pdf

only $7.44 of the $166 mandatory yearly Union due of the Indiana State Teachers Association goes to "improving teaching and learning"

meanwhile, NEA leaders are making million dollar paychecks.
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Old 09-13-2011, 02:09 PM   #14
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President Obama visited Holland Michigan on Thursday to participate in the groundbreaking ceremony of the new LG Chem battery plant. This plant was funded in part by a DOE stimulus grant of $151 million with a matching $151 million provided by LG Chem. Once fully operational in 2012, the plant will be capable of producing enough cells for 200,000 hybrids and electric cars, and will specifically be making the cells both for the Chevrolet Volt and the upcoming Ford Focus Electric, expected to go on sale in 2011.

“This is about more than just building a new factory,” said Obama. “It’s about building a better future for this city, for this state, and for this country.”

The Obama administration has pledged a goal of putting 1 million electric cars on US roads by 2015. So far the Recovery Act has contributed $2.5 billion towards United States electric car battery and component plants, 26 of which are already in some stage of construction. Nine of these are battery plants, including ones from A123 Systems and Johnson Controls. These facilities can collectively expect to produce 500,000 electric cars annually, and are expected to help transform Michigan into the electric car battery capital of the country.

The 650,000 square foot LG Chem plant is expected to produce 300 jobs.
Wow – a $151 million win-the-future “investment” will create a whopping 300 jobs? At $500k per job, I’m clearly in the wrong business.
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Old 09-13-2011, 03:09 PM   #15
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Not 151, but 302. Each put up that much. So, a million a job. Give me 2 million, and I'll never work again. Someone else can take my job.
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Old 09-15-2011, 04:20 PM   #16
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Financial Information
Annual Dues Paid to Unions: $8,217,838,676
Total Union Assets: $8,804,794,935
Total Spending
Representational Activities: $4,081,097,858
Political Activities: $579,624,489
External Contributions: $321,121,214
Overhead: $3,905,927,269
Unions that fail to pass Department of Labor audits: 92%


Total Union Members: 14.7 Million
Percentage of Workforce that is Unionized: 11.9%
Private Sector Employees: 7.0 million (6.9%)
Public Sector Employees: 7.6 million (36.2%)


Think about what sorta of stimulus that would create if 14.7million workers got back $8,217,838,676 in their pockets...
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Old 09-19-2011, 09:43 AM   #17
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didn't quite get $10,000

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The United Auto Workers union won $5,000 signing bonuses and the possibility of sweeter profit-sharing checks as part of a new four-year contract with General Motors Co., two people briefed on the talks said Saturday.
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Old 09-19-2011, 11:01 PM   #18
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Originally Posted by matthewdesigns View Post
What I have a problem with overall I guess is that salaries like that do nothing to help close the gap between the employees at the entry/mid levels and the upper admin, if even from a psychological perspective. It creates distrust of the CEOs within the ranks of the shift workers, therefore giving them the "right" to ask for $10K signing bonuses (which I will again say is bullshit) when they see how much loot the CEO is getting from the company.
I can kind of understand this but a lot of it is cultural.

For example, I work for a firm where the CEO makes 7 figures but the company has a culture of charitable giving, independence, cooperation and conservatism. It's viewed as a joint effort, though. Also, our execs make a habit of not being overly showy - they use "hand me down" furniture rather than million dollar office renovations.
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Old 09-22-2011, 10:58 AM   #19
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gotta love chicago:

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Most city workers spend decades in public service to build up modest pensions. But for former labor leader Dennis Gannon, the keys to securing a public pension were one day on the city payroll and some help from the Daley administration.

And his city pension is more than modest. It's the highest of any retired union leader: $158,000. That's roughly five times greater than what the typical retired city worker receives.

In fact, his pension is so high that it exceeds federal limits and required the city pension fund to file special paperwork with the Internal Revenue Service to give it to him.
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