LOL. “The economy is doing great”
so why dont we ask these steel workers for their opinion.
companies going gangbusters and they want concessions from the workers like they are facing bankruptcy.
ok you trickle down fans…time for the excuses…lets hear them
Allan
So how much do steel workers make?
Before commenting I want to know what this means specifically: “unrealistic concessionary demands and unfair labor practices,”
Just give them a $1000 tax cut. They’ll shut up and get back to work. Damn peasants
In 2011 the mean was apparently just over $49K a year.
Depends on title
Installation and Maintenance jobs around 55,000
Rolling Machine Operators around 50,000
Production helpers around 40,000
no sure what their salary has to do with anything.
This thread is a the “trickle down” economic theory.
These guys and gals aint seeing a drop.
Allan
This article has nothing to do with the overall economy and nothing to do with the efficacy of so-called trickle down economics. It’s about a dispute between the workers and management regarding their contract.
Workers and employers are the economy. The whole term “trickle down” emphasized money getting into workers pockets of the wealthy got more.
One of the things the steel company is trying to do is rework the retirement/insurance of retired employees. They’ve already performed their tasks and earned this…so how can a company attempt to renegotiate these things? Is this behavior not illegal?
Hmmm…income of workers has nothing to do with whether money is trickling down. I wouldn’t have figured that.
The trickle down allegedly works like this.
Check.
2, Company pays employees more money
well thats where the disconnect comes in to play.
see how that works.
well except it doesnt.
Allan
The trickle down is increased pay from the company…duh
Allan
ArcelorMittal is trying to cut costs to keep up with their US compeditirs, and they are targeting their employee benefits. Here is a statement by ArcelorMittal where they explain why they are finding themselves needing to cut costs:
"We still struggle with global overcapacity, and imports continue to be of concern," Brett said. "New steel mills are being built in our country, and mini-mills are expanding both their capacity and capability. In fact, some sophisticated steels that were once only available through integrated manufacturers can now be produced by mini-mills, thanks to advancing technologies. In the past 10 years, integrated mills have lost another 10 percent of market share to mini-mills, which now account for 70 percent of the market. This fact highlights our continuous need to be cost competitive."
ArcelorMittal is feeling the pinch from US competitors. They used to have a little bit of a monopoly, but due to the growing economy more steel mills are being created, and established mills have expanded their production capabilities.
ArcelorMittal looking for concessions as USW negotiations kick off
BTW. The OP jumped to the wrong conclusions, this is occurring because the economy is growing. Market pressures are leveling the playing field between the small steel companies and the well established industry leaders, this is how our capitalist system works.
Damn right it doesnt. Management takes all of it. After all that paper work, email and meetings they deserve it!
The steel industry is a small portion of the entire US economy. Regarding the economic situation of the steel companies it may simply be the case that one good year or half a year doesn’t erase 10 bad or so-so years. But I’ll also say good for the workers to fight for what they believe.
Regarding the rational of so-called trickle down economics or more noteably Supply side Economics, as I understand it, is that a growing and vibrant private sector economy is the best thing for workers and theoretically should increase wealth. Being that economies are very complex with many “moving parts” (so to speak) it doesn’t always work out that way for everyone and every industry unless that industry is part of government of course.
The thing is that much of the political Liberal philosophy is that companies are always the “bad guy” plain and simple. There are good guys and there are bad guys one not need to think beyond that.
Wasn’t so very long ago US Steel was losing hundreds of million a quarter.
They should be able to get a good deal for both workers and shareholders.
All part of the negotiations…
The company has its best results since 2011.
not sure why they are asking concessions from the unions.
Allan
Yes but the steel industry is the one being targeted by the President as one that needs boosting by increasing tariffs,
Allan
Economic downturn… look for concessions from labor.
Economic Boom… look for concessions from labor.
That is what we call a win/win.
