You Folks Will Love This!

[bflbob]

We have ties to several unions due to the nature of our business (construction).

The unions mandate what we pay to our employees, and require us to pay benefits to the union.

The unions purchase health insurance, pay for training, and fund a retirement account with this benefit money.

Several of these unions had invested a good portion of their funds into Madoff's funds.

By good portion, I mean 25% - 65% of their total.

Since they've promised these benefits to the employees, some unions are really feeling the squeeze.

You'll love this...

Their solution is to come to us to ask us to fund the shortfall caused by their bad investments. :smx4:

They actually expect us to write a check to fix their error!

Ain't America GREAT?!?!? :iamwithstupid:

 

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[LightHouse]

wow, unbelievable. i would be beside myself if someone asked us to do that. So what they are saying is every time i make a bad move in the market, i should go around with my hand out?

 

[Inphinity]

Wow, what a fantastic plan that was lol!

 

[SteveO]

But, your company owes it to them...

 

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[bflbob]

Of course...

 

[SteveO]

Can you imagine the conversation going on a union headquarters? "Hey Bob, I need you to draft a letter telling those greedy companies to pony up out of the goodness of their hearts....".

What alternatives do they have at this point?

 

[bflbob]

Unions SUCK!

I actually caught them having had forged an agreement.

We knew we hadn't signed with them, but they produced a photocopy of our signature.

The odd thing was that any "tails" that went below the line weren't there.

When I matched the signature EXACTLY to a letter we wrote to them, their attorney suddenly acknowledged a clerical error.

 

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[bflash98]

Talking about being in a bind.
Option A: Tell the union members they have lost their pension money and need more or
Option B: Go to the companies and ask for more money so you don't have to tell the union members they screwed up.

Looks like they went for the all of the above approach. I wonder who is going to be in charge of the union next year

 

[bflbob]

They've already broken the news to the union members.

Many have threatened to sue.

And since it isn't their fault...

...it must be ours.

 

[GettingThere]

whoa...good luck with that. Undue stress because they can't own up.

Kind of like a small-scale "Big 3" bailout.

-John

 

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[ramy98]

I guess this comes down to taking responsibility for your own actions...

 

[YoungOne]

I guess this comes down to taking responsibility for your own actions...

......Which of coarse nobody would be caught doing in todays world!:cuss:


I agree, unions have very, very little benefit.

 

[CMCarlin]

Accountability has gone out the window.

 

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[msa1]

Funny and frightening at the same time. Whats next, private businesses required to underwrite bad choices by its employees and subcontractors?

 

[GLC65]

As an employer of hundreds, I do not need a union to be speaking for my employees. I know each and every employee and how hard they work and reward them accordingly. I respect employees who give it their 110% and will get rid of the lazy a$$ in a heat beat whether they are represented by a union or not.

 

[G_Alexander]

But, your company owes it to them...

Can you imagine the conversation going on a union headquarters? "Hey Bob, I need you to draft a letter telling those greedy companies to pony up out of the goodness of their hearts....".

What alternatives do they have at this point?

Haha, very good SteveO :cheers:

bflbob...Just wait till the Teamsters decide to show up at your door an bust some knee caps!

Just give these guys the big :fu:

-Alex

 

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[Bilgefisher]

Perhaps this is a good thing for the union workers in the long run. I find the union leaders do very little to represent their folks. I'm not a fan of unions mind you, but they initially improved working conditions.

I hope that the folks in the union will band up and either drop their union (not likely but it has happened) or at least get some union leadership that represents their interests.

Shame it has to be the hard way and cause you grievance though.