rulemylife
Posts: 14614
Joined: 8/23/2004 Status: offline
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quote:
ORIGINAL: TNstepsout I don't blame the unions for the coming Depression. Right now I DO blame the UAW partially for the failure of the Big 3, and their failure to obtain government aid. In hard times everyone has to be willing to sacrifice for the greater good. They were unwilling to do that. I don't have a problem with Unions as a whole. Just like I don't have a problem with ANY group or organization as a whole. I judge each one, as I judge people, on their individual actions. The UAW has acted irresponsibly in this crisis by being unwilling to make concessions and take cuts. I listened to Ron Gettelfinger's news conference the other day on CNN. While he's not the most articulate person, he made some good points about the union being the only stakeholder to be asked for specific concessions by specific dates. The only sacrifice I have seen being made by management was the token gesture by the CEOs to accept a one dollar salary. Very magnanimous, considering the majority of their income comes from stock options and bonuses, not their base salary. And this came only after they received a public spanking by Congress for not bringing anything to the table, and showing their arrogance by arriving in seperate corporate jets traveling from the same place at basically the same time. But hey, you're right, it's that greedy union that is up to no good again. I mean, after all, should we expect the CEO's to airpool? Or worse yet, fly first class on an airline, which would have saved thousands over the cost of their corporate jet? Especially when they're claiming they have no money to survive and begging for public assistance. Without any guarantees of shared sacrifice by the companies why should the burden rest on the UAW to make concessions? When American Airlines was on the verge of bankruptcy in 2003 there were similar arguments made about the greed of the unions. In particular, the flight attendants were castigated in the media and by anti-union factions because they refused yet another wage concession. In the end, the pilots, mechanics, and flight attendants all accepted between 15% and 23% in wage cuts. Think about that for a second. What would you have to do to cope with a sudden loss of almost one quarter of your yearly income? Yet within weeks of the acceptance of wage cuts by the unions it was revealed that eleven of American's top management personnel were awarded huge bonuses, including the CEO, who was later forced to resign over the controversy. It didn't stop there though. While the workers were still laboring under their wage concession agreements, the company turned itself around and the stock nearly tripled. And of course, the bonuses to upper management kept rolling in, at the expense of those who sacrificed the most to keep the company alive. This was from just last year: FORT WORTH (AP) ― Angry employees confronted the CEO of American Airlines' parent Wednesday over management bonuses, underscoring troubled labor relations at the nation's biggest carrier, but shareholders rejected a union-backed resolution to let shareholders vote on executive compensation. Union leaders said the bonuses broke a management promise to share gains as the company recovered from huge losses. But Chairman and Chief Executive Gerard Arpey declined to back down on the bonuses, which totaled about $160 million in stock for nearly 900 managers. cbs11tv.com/local/American.Airlines.airline.2.502512.html
< Message edited by rulemylife -- 12/14/2008 4:40:11 PM >
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