Friday, 23 September 2011

UAW going broke? Using the strike fund to pay the bills.

The UAW is running down the strike fund as income plummets and it lives beyond its means.
"A bloated management, run-away costs, declining market share, imploding volume, a sell-off of assets and investments, headquartered in Detroit" - It's the United Auto Workers.
The Truth About Cars drawing on Seetharaman at Reuters.
"Orange" is the disappearing strike fund.

 The UAW is credited with having less extravagant top salaries than some, is selling some empty union halls, and has taken steps with its own unionized staff to cut pay, reduce retirement health benefits and accept some buyouts.  It's not enough.  Will they be tempted to go all out raiding the strike fund to influence the 2012 election while also hoping to gain enough new members?  Foreign-owned plants in right-to-work states in the South are paying the same or slightly better wages, not an easy target.
   Their income has plummeted while membership has declined moderately.  Two hours of pay per month is the dues rate and new workers are coming in on the two-tier wage plan at lower rates.
h/t Instapundit.

No comments:

Post a Comment