pensions

Boeing CEO Taking $3.9M Annual Pension for 15 Years After Workers Were Forced Into 401Ks

Boeing CEO Taking $3.9M Annual Pension for 15 Years After Workers Were Forced Into 401Ks
Boeing’s most recent Securities and Exchange Commission filing has revealed that CEO Jim McNerney will be paid $3.9 million a year in pension benefits for each of the next 15 years. This revelation follows the announcement that he will retire on July 1st but will remain as chairman until February of 2016.
origin Author: 
origin Blog: 

New Jersey Credit Rating Downgraded for 2nd Time This Week, Record 8th Time on Christie's Watch

New Jersey Credit Rating Downgraded for 2nd Time This Week, Record 8th Time on Christie's Watch
Five days ago, Christie hit the kind of record that does not presidents make. Washington Post had it: New Jersey's credit rating has been downgraded more under Chris Christie than any other governor. And that was just the seventh time. Wall Street hit New Jersey again yesterday, as both Fitch and Standard & Poor's cited the same kind of issues for their lack of confidence in the state's direction under Christie. Not exactly the kind of record you want to build on.
origin Author: 
origin Blog: 

Now That Your Labor Movement Won Three Day Weekend Is Over, See What Else You Should Thank Unions For

 Now That Your Labor Movement Won Three Day Weekend Is Over, See What Else You Should Thank Unions For
We've always had labor in this country: free laborers, indentured servants and slave labor. But it wasn't until 1894, that Congress made the first Monday in September the official Labor Day holiday. Although now, in most communities, it's mainly just another day off — or excuse to shop the sales — people used to take Labor Day pretty seriously and with good reason.
origin Author: 
origin Blog: 

UnFairPoint? Telecom Co Wants to Slash Pay, Benefits, Has Rejected 65 Proposals from Unions

UnFairPoint? Telecom Co Wants to Slash Pay, Benefits, Has Rejected 65 Proposals from Unions
As of midnight on August 2nd, the six-year contract between FairPoint Communications, 1,700 International Brotherhood of Electrical Workers (IBEW) members, and 300 Communications Workers of America (CWA) workers expired. This is somewhat surprising, considering the unions have had a whopping 65 proposals rejected by management. They also say FairPoint has used some heavy-handed tactics throughout the process.
origin Author: 
origin Blog: 

Lose One for the Gipper: IL Gov Candidate Invokes Reagan in Threat to Shut Down State Government

Lose One for the Gipper: IL Gov Candidate Invokes Reagan in Threat to Shut Down State Government
A video has surfaced of Illinois Republican gubernatorial candidate Bruce Rauner promising members of the Tazewell County GOP that he will shut down the state government and conduct a mass firing of public workers if elected. The comments came during a dinner held by the organization.
origin Author: 
Steve Cooper
origin Blog: 

Union Study: Memphis Slashing Employee Health Insurance While Recklessly Gifting Corporations

Union Study: Memphis Slashing Employee Health Insurance While Recklessly Gifting Corporations
The Memphis City Council’s new 2015 budget includes major changes to city employees’ health insurance, a big business win that has many public employees considering a change in profession.
origin Author: 
origin Blog: 

Oklahoma Guts Pension Plans to Pay for Oil and Gas Industry Tax Cuts

Oklahoma Guts Pension Plans to Pay for Oil and Gas Industry Tax Cuts
Gov. Mary Fallin has signed into law a bill that ends pensions for new state employees under the Oklahoma Public Employees Retirement System, moving new hires into 401(k)-styled plans that don't offer a guaranteed benefit. The only question now is what's next when it comes to cutting state pension plans in Oklahoma?
origin Author: 
origin Blog: 

NJ's Credit Downgraded Again, Gov Christie Uses Non-Truths to Blame Every One Else

NJ's Credit Downgraded Again, Gov Christie Uses Non-Truths to Blame Every One Else
Last week, New Jersey Gov. Chris Christie became the second governor in the country's history to preside over six downgrades of the state's credit rating. Naturally, Christie blamed the pensions and that none of the other governors had to pay into the contractual obligation. This is, of course, not true. You are, of course, not surprised.
origin Author: 
origin Blog: 

MI State Rep Says Detroit Put Itself 'In This Position,' Needs to Get Itself Out

MI State Rep Says Detroit Put Itself 'In This Position,' Needs to Get Itself Out
Michigan State Rep. Greg MacMaster, R-Kewadin, is leading the GOP echo chamber pushing to let Detroit drown in its debt, rather than help out at the statewide level. "It wasn't the taxpayers of Michigan that put Detroit in this position," MacMaster said, "it was Detroit's inability to administer their funds properly."
origin Author: 
origin Blog: 

NJ Budget Begins to Take Shape: Sacrificing Education, Environment and Energy for Pensions, Health and Debt

NJ Budget Begins to Take Shape: Sacrificing Education, Environment and Energy for Pensions, Health and Debt
New Jersey is in the earliest stages of its 2015 fiscal budget, but a lot can be told from the excerpts released last night in anticipation of Gov. Chris Christie's address today. The main take: "We are sacrificing university research, support for K-12 education, funding for the environment and energy and infrastructure of all kinds on the altar of these three things: pensions, health, and debt."
origin Author: 
origin Blog: 

Pages