Those 50,000 people got paid 95% of their salary for doing nothing being in the "job bank". And the UAW fatcats got their cut.
Like they say in Obamaland (Chicago), cut me in or cut it out.
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Greg, not so.
What do you know about the job bank? What evidence do you have about UAW "fat cats" getting a cut of anything? You are just plain wrong.
Those 50,000 left, got buyouts or just plain flat out retired. The buyouts ranged from about 20K to about 140K. Many workers simply got a 25K payout and nothing else, after working for 25 years. No pension, no health care, no training opportunity, nothing. Others - particularly white collar salary, got the higher end buyout figures.
None of them are in the job bank- which, by the way, has about 1,000 workers in it now. Job bank was offered up by UAW, but that wasn't enough for Corker. UAW offered to negotiate on wages, but only if Toyota's books were made available to the UAW, and if Republicans would be satisfied if UAW workers made less than Toyota. Republicans refused, insisted that UAW retirees lose their pensions and health care, and killed the deal.
http://www.usnews.com/blogs/flowchar...-gm-gets-scorn
AIG gets billions, while GM gets nothing.
How about no executive should be allowed to make more than the President of the United States, all bonuses or incentive pay are killed, and all other wages frozen until the company is profitable with out taxpayer help. Any further concessions would be based on percentage and distributed across the board to all employees.
James,
Neither one should've have gotten anything. If they fail, there is always someone more efficient to step into the vaccuum, if such a vaccuum is really there, because the American people will want the additional product. That's called capitalism, I believe. Supplying someone with a service or product, they want, and making a product. Is it perfect?,,, No, because we having greedy people out there and they should be locked up. But these bailouts gotta stop or we'll continue to mortgage our children's future.
As a personal aside, I'm sick and tired of these bailout rallies. Let the market do it's thing. You screw up, you pay the piper, not get a welfare check from Uncle Sugar, and that's all these bailouts are.. Corporate welfare.
We've got to stop this somewhere. The first state that gets a bailout will officially change us to the United Socialist States of America, because the flood gates will be open. I know my own state of Ohio is very deep in debt, not near as bad as CA or MI, but probably 3rd, but Strickland is standing tall for a Lib and is going to cut services and stop our 5 year tax cut plan. I can live with that. I've had to cut back on my living expenses.
Enough of this.
CB
A.
http://www3.signonsandiego.com/stori...ial/?uniontrib
'ludicrous “job bank,” in which 14,000-plus laid-off workers are paid to sit around and do crossword puzzles'
B.
http://www.wkowtv.com/Global/story.a...nav=menu1362_2
'The job bank would provide laidoff GM workers with an extra two years of pay after the plant closes.'
C.
http://www.detnews.com/2005/autosins...A01-351179.htm
http://info.detnews.com/dn/pix/folios/dot.gif
Jobs bank programs -- 12,000 paid not to work
P.S. I'm a due-paying union member and drive a 1993 Chevy everyday !
http://www.detnews.com/apps/pbcs.dll.../BIZ/708150406
Potter, in his last full year as president of UFCW Local 951, made $305,000.
...
Differences in union hall pay scales are often as glaring as the pay gap between union and non-union shops. Some labor organizations lavish their officers with high salaries and generous benefit packages unavailable to the rank-and-file
...
At most Meijer stores in Michigan, top pay is nearly $20 an hour for a butcher. Most make far less. Meanwhile, Potter has a condo in Grosse Pointe Park and a home on more than seven acres in Grand Haven. He owns four cars, including a Cadillac and a Corvette, according to Michigan Secretary of State records.
...
WHO'S PLAIN WRONG ?
http://www.detnews.com/apps/pbcs.dll.../BIZ/708150406
The UFCW's labor bosses are among the highest paid in the United States, with 33 officers making more than $200,000 in base salary in 2006 -- many of whom earned thousands more by drawing additional paychecks from the union's international office. The average UFCW member earns between $25,000 and $30,000 a year, with many at Michigan grocery stores earning less.
...
Ron Gajeski, recording secretary at Utica's Local 400 that has lost 5,000 members since 2001. Gajeski was paid a total of $173,904, including more than $10,000 for expenses.
...
Nearly 700 UAW officers and staff in Michigan alone have a total compensation from the union that exceeds $100,000, according to U.S. Department of Labor data.
The last section of the following link posted by James is true yet many will say it is a lie.
http://www.usnews.com/blogs/flowchar...-gm-gets-scorn
“Does AIG have unionized workers? Few, if any.
GM has a bunch: 64,000. Ah ha! Maybe that explains it. In fact, Senate Republicans who blocked a $10 billion emergency loan for GM and a $4 billion loan for Chrysler said they wouldn’t approve a Detroit bailout unless the United Auto Workers made much deeper concessions than they’ve already offered, essentially giving up any advantages they have over non-unionized workers in other states.
So here’s one lesson: If you want a government bailout, try to have problems that are too complicated for most people to understand. And make sure your employees are the kind who wear a suit to work every day. Once you’ve satisfied those two requirements, ask for as much as you want: The coffers are open.”
Show-me’s comments on limiting exec compensation is a critical problem in the discussion about America becoming a more mean society further pitting the super rich skillfully manipulating wealth and health from the middle class and poor. As for socialism in America or neo- Fascism, we’ve been there for a long time with outrageous welfare for the wealthy, while they pass social costs of pollution, financial engineering mistakes and wars of pride and greed to the middle class and poor.
IMO, AIG bailout was about paying off foreign lenders and investors or they were going to punish the U.S. by selling off our bonds and/or not buying any more.