Category: Union Matters

3.4 Million American Jobs Wiped Out by U.S.-China Trade

Scott Paul and Robert E. Scott join Leslie Marshall to discuss a new EPI report entitled, "The China toll deepens: Growth in the bilateral trade deficit between 2001 and 2017 cost 3.4 million U.S. jobs, with losses in every state and congressional district."

Scott Paul is President of the Alliance for American Manufacturing (AAM), a partnership established by some of America’s leading manufacturers and the United Steelworkers union.

Robert E. Scott is Senior Economist and Director of Trade and Manufacturing Policy Research at the Economic Policy Institute (EPI).
EPI is a nonprofit, nonpartisan think tank created in 1986 to include the needs of low- and middle-income workers in economic policy discussions.

 

In Australia, ‘Sound and Fury, Signifying Nothing’

Sam Pizzigati

Sam Pizzigati Editor, Too Much online magazine

In Australia, people still get angry about CEO pay packages that would draw a ho-hum in the United States, and that has John Mullen, the board chair at Aussie telecom giant Telstra, more than somewhat bent out of shape. At Telstra’s annual meeting earlier this month, 62 percent of the company’s shareholders gave an advisory thumbs down to the $4.5 million the Telstra board has okayed for CEO Andy Penn. That brought Mullen to his feet for a “furious” retort. He told the Telstra board’s critics to “get real” about the tough business climate the company is facing. Corporate directors, he went on, don’t “sit around like witches of Macbeth scheming as to how they can manipulate incentive schemes to give improper benefit to already excessive executive salaries.” Mullen’s “staunchly” delivered defense of CEO Penn, who this past June announced a plan to lay off 8,000 workers, left critics distinctly unimpressed. Last year, economist Jason Murphy points out, Aussie CEO pay overall increased six times faster than worker wages.

***

Reposted from Sam Pizzigati

In New York, the Art of a Deal Gone Bitterly Bad

Sam Pizzigati

Sam Pizzigati Editor, Too Much online magazine

“If you gain fame, power, or wealth,” the philosopher Philip Slater once noted, “you won’t have any trouble finding lovers, but they will be people who love fame, power, or wealth.” Tell me about it, David Mugrabi might be thinking right about now. The billionaire art dealer and his wife Libbie Mugrabi are currently contesting a bitter divorce that has the New York couple in and out of the courts and the headlines. In July, the two tussled in a tug-of-war over a $500,000 20-inch-tall Andy Warhol sculpture. Libbie claims the incident had her fearing for her life, and a friend has testified that David angrily called her and Libbie “low-lifes” and “gold-diggers.” The latest installment: Last Tuesday, lawyers argued over how much Libbie should get for a vacation she and their two kids will be taking this Thanksgiving. Libbie’s lawyer asked for an amount commensurate with the couple’s “$3.5-million-a-year lifestyle.” The judge okayed $4,000, then added: “No one’s going to starve in this family.”

Your Vote is the Last Line of Defense Against One-Party Control

Hugh J. Campbell

Hugh J. Campbell Son of a steelworker, Philadelphia, Pa.

The bottom line of Adam Serwer’s The Guardrails Have Failed is: “As for Kavanaugh, every opinion he writes, every decision he joins, and every day he sits on the bench will be tainted with illegitimacy.” Senators who represent a shrinking portion of the population confirmed a justice more Americans oppose than support. He was nominated by a president for whom most of the electorate did not vote. Republican control of the three branches of government is countermajoritarian. With the guardrails of separated powers broken, the last remaining defense for American democracy and the rule of law is the electorate itself.

Since April 8, 2017, when Neil Gorsuch became Associate Justice of the U.S. Supreme Court, the United States Government has been controlled by one political party. Why is this important?

In his Oct. 15, 2011 Senate Judiciary Committee testimony on separation of powers, Justice Antonin Scalia tells us: The real constitution of the Soviet Union, that constitution did not prevent the centralization of power in one person or in one party. And when that happens, the game is over, the Bill of Rights is just what our Framers would call a “parchment guarantee.”

Unless the Republican party ceases to control the legislative branch of the U.S. government in January, 2019, centralization of power will continue in one party, the Republican Party, for another 24 months, and if Donald Trump has his way, that centralization of power will be in one person.

***

Keeping Cancer Cures a Corporate Profit Center

Sam Pizzigati

Sam Pizzigati Editor, Too Much online magazine

Who knew fighting cancer could be so lucrative? Memorial Sloan Kettering Cancer Center CEO Craig Thompson, for one. Last year, Thompson pulled down nearly $600,000 in cash and stock from his service on two for-profit drug company boards, all on top of his $6.7 million in Sloan Kettering pay the year before. No wonder Thompson looked the other way while his chief medical officer “failed to disclose” in medical journal articles that he had received millions from companies that could be banking on matters he was writing about. In September, that scandal went public, and Thompson at first insisted that working with for-profit companies must remain a priority. Last week, amid mounting public outrage, Thompson retreated and announced he would resign his corporate board seats. But the real scandal remains: a hospital-Big Pharma complex that focuses single-mindedly on patentable pharmaceuticals that generate huge returns for corporate execs and shareholders.

Amazon Announces Minimum Wage Scam

From the USW

Activists around the country applauded Amazon and its CEO Jeff Bezos for announcing their plan this week to raise the minimum wage of all employees to $15 an hour. At first glance, celebrations were in fact appropriate. The company is now worth $1 trillion, as of September 2018, yet they’ve been paying their workers pennies in comparison. For several years now, labor activists, led by Sen. Bernie Sanders, have been calling upon the online retail giant to do the right thing and raise their minimum wage.

However, the way Bezos plans to pay for these raises has come to light, and there is no applauding to follow.

According to Bloomberg News, Amazon, which employs 575,000 people worldwide, is eliminating monthly bonuses and stock awards for warehouse workers and other hourly employees. And what many people don’t realize is a large chunk of the Seattle-based company’s workers, including their delivery drivers, are contracted out, meaning they will not benefit at all from the supposed raises as they are not “employees.”

More ...

A Fierce Defender of Truth and Classic Opulence

Sam Pizzigati

Sam Pizzigati Editor, Too Much online magazine

Rolls-Royce CEO Torsten Müller-Ötvös sees himself as the custodian of a hallowed brand — and woe be to anyone who dares dispute Rolls supremacy in the universe of ultra luxury. This past March, Müller-Ötvös lit into an Aston Martin exec who had the temerity of suggesting that the traditional Rolls design amounted to an outmoded “ancient Greece.” An “enraged” Müller-Ötvös, Auto News reported, fumed that Aston Martin had “zero clue” about the ultra rich and then accused other carmakers of stealing Rolls-Royce intellectual property. Last summer, Müller-Ötvös rushed to defend the $650,000 price-tag on one Rolls model after a reporter told him that his son wondered why anyone who could afford to “fly to the moon” would choose to buy a Rolls instead. Rolls patrons, the 58-year-old CEO harrumphed back, hold at least $30 million in personal wealth: “They don’t have to choose. They can fly to the moon as well.”

***

Workers Working for A Safe and Prosperous Future

Joining union and environmental leaders from around the world, AFL-CIO President Richard Trumka (UMWA) made clear that the labor movement is committed to combating climate change—but not at the expense of working people’s livelihoods and dignity. Speaking at the Labor Center at the University of California, Berkeley, yesterday, he argued that “as a labor movement, it is our job to ignite the flames of justice, not contain them. And that’s exactly how we’ll be successful in the fight against climate change: by demanding justice for working people and ensuring no one is left behind.

  • A global effort to combat climate change is fundamental to a safe and prosperous future but, as President Trumka reiterated today to thousands of attendees at the Global Climate Action Summit in San Francisco, that effort will succeed only if working people have a seat at the decision making table.
  • Check out a few highlights from the event below, and read President Trumka’s full remarks here.
More ...

U.S. Steel’s CEO is Playing a Dangerous Game of Chicken with the Markets, Steelworkers and America

Richard Cucarese

Richard Cucarese Rapid Response Coordinator, USW Local 4889

With the dog days of summer upon us, many people spent their Labor Day cooling off in pools, heading to the beaches, or just relaxing in the shade without any thoughts of work entering their minds. 

But for approximately 16,000 members of the United Steelworkers (USW) union employed at the mills of the U.S. Steel Corp., the holiday took on a brand new meaning as they prepared themselves for the possibility of the largest work stoppage in the domestic steel industry since 1986. This was in response to U.S. Steel coming to the bargaining table that weekend with a contract proposal nearly as regressive and damaging than ones offered just weeks earlier.

Just three years ago, U.S. Steel was on the verge of bankruptcy, a situation caused by a mixture of bad business decisions, poorly timed austerity measures and illegally subsidized, underpriced Chinese steel dumped onto world markets.

 It was at this time that the Steelworkers agreed to freeze wages over three years and give up the guarantee of a 40-hour work week, reducing it to 32, in the hopes that when the company rebounded, it would reward the work force in the next round of contract talks.

In the ensuing years, U.S. Steel did flourish. This was due to the labor of its dedicated and skilled workers, as well as tariffs imposed by Presidents Obama and Trump.

More ...

We Once Jailed CEOs for Their Crimes. Remember?

Sam Pizzigati

Sam Pizzigati Editor, Too Much online magazine

Jeffrey Skilling, the ex-CEO of the now-bankrupt energy giant Enron, has got to be steaming. Skilling helped Enron soar high up in the Fortune 500, then sank into infamy when his company went bankrupt in 2001 amid revelations of widespread fraud. Five years later, a federal judge sentenced Skilling to 24 years in prison. Last week, federal authorities released the 64-year-old to a halfway house, the first step to outright release. Enron’s collapse cost shareholders billions and employees their life savings. Skilling personally has had to pay $45 million in fines and over $75 million in legal fees — and his 20-year-old son died while he was serving his time. But Skilling has yet another reason to fume. None of the top CEOs responsible for the fraud that ushered in the 2008 financial crash — and wreaked much more havoc on America than Enron — has yet faced a day behind bars and, notes federal judge Jed Rakoff, likely never will.
 
***

Union Matters

3.4 Million American Jobs Wiped Out by U.S.-China Trade

Scott Paul and Robert E. Scott join Leslie Marshall to discuss a new EPI report entitled, "The China toll deepens: Growth in the bilateral trade deficit between 2001 and 2017 cost 3.4 million U.S. jobs, with losses in every state and congressional district."

Scott Paul is President of the Alliance for American Manufacturing (AAM), a partnership established by some of America’s leading manufacturers and the United Steelworkers union.

Robert E. Scott is Senior Economist and Director of Trade and Manufacturing Policy Research at the Economic Policy Institute (EPI).
EPI is a nonprofit, nonpartisan think tank created in 1986 to include the needs of low- and middle-income workers in economic policy discussions.

 

More ...

Who Really Pays for Tax Cuts?

Who Really Pays for Tax Cuts?