So what is it that the union members want? The members are upset at both their union leaders as well as Deere, so what do they want to make themselves happy? New leadership?
John Deere strike imminent?
- Thread starter ISUCyclones2015
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They should hire scabs and run a second shift time slot so people can go work at Deere at night after their regular jobs. I’d be interested.
As the math above showed, the person receiving a 6% return (which is below the long-term average return of the S&P 500) over the course of a lifetime would have around twice their working income when they retire in perpetuity. The SS recipient would have only a fraction of working income. The second scenario you described could not happen; they would not be able to outlive that long-term income.
Trying to use the disability insurance program to cover for the flaws in the old age program in SS goes to show the weaknesses in the structure of the latter. They're not really a package deal. There's no reason you could not leave the disability insurance unchanged while allowing the old age program to generate market-average returns instead of no returns at all. As I said, it's a much better deal to American workers.
You seem to think my aim is just to blow everything up. Nah, not really. The goals the SS program was created to address -- old age income security and disability insurance -- are worthy ones. I'm just not convinced it is done in the most efficient way right now. "If you are going to do it, then do it right," and there is really no case what we're doing now is the best way. It's almost comical how conservative you want to be.
Crashing a market that bad would require something like a nuclear war. One of those classic "you've got bigger things to worry about" scenarios than your retirement accounts' savings at that point.
I still don't get you.
You do realize that nearly 60% of your IPERS is in the market, right?
Some subset of that is in private equity, too, which is even riskier than the S&P 500?
Why aren't you panicking? You keep ignoring this point.
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Imagine if they put all or even some in a Roth or traditional IRA.
Pretty darn good offer they rejected. Doesn't make them look too good in the public eye IMO.
Get started on an HSA as early as you can and invest it all in S&P index fund. Sit and wait until 65 and use that to pay for your medicare advantage or supplement premiums.
Sounds like their is still a bad taste from the 2016 agreement. Buyers Remorse.
But I also imagine striking employees feel the time is right to get aggressive.
- Companies are having trouble hiring.
- They are seeing pretty big hourly wage increases in warehouse and retail sectors.
- Probably feel the political environment in US is favorable.
Plus, Deere offered union workers an enhanced retirement bonus of up to $50K, improved benefits, and a COL adjustment.
I love how people say this and in the same breathe say that if you aren’t happy with your job you should just find a new one.
what does it matter to the general public if Deere workers go on strike? They think their salary is unfair.
The people that really got shafted in the 1997 contract (lost healthcare after retirement and most of the pension) are starting to creep toward 30 years in and are realizing they aren't going to get to put their 30 in and get out because they can't afford to buy health insurance privately.
It was pretty united (no pun intended) that they weren't going to do that to the next generation and this contract that they voted down took away all pension from new hires as well as increased premiums and instituted co-pays and co-insurance with not enough raise to balance that out.
The feeling is that the union leadership, which is obviously older, was selling out younger workers again. There's also some buyer's remorse from the 2015 contract because they didn't really fight for anything and just took a larger ratification bonus and didn't get enough pay.
These are all true points. I bet the strikers feel like they have a ton of leverage now that they wouldn't in a typical contract year. Depends now on how long they can keep up the game of chicken.
Yes, from a pure leverage standpoint it would be tough to find a better time to strike or renegotiate.
They oversee everything you mentioned. 14.5 million is a drop in the bucket to JD and one small mistake could cost them that pretty quickly. A place like JD, with all the different line they produce doesn't just run itself.
People hate union workers when they find out how much money they make. That's always been the case. Unions are so bad you know. Hell I make about 75/hr when you figure in my benefits.
Except that is what you are criticizing them for doing. I don’t know the details anywhere near enough to have a remotely competent stance on this specific negotiation. The 60,000 is more than I make. Just because I make less doesn’t mean they shouldn’t make more. If I think I should be making closer to them then I should tell my boss I need to make more not telling them they can’t make more.
I disagreed because with the current environment EVERY employee should be looking to improve their compensation. It's a employee's market and quite frankly this doesn't happen that often so take advantage of it.
Imagine sitting on the sidelines and thinking that factory workers look bad for not taking a deal from a Fortune 100 company with a $100 billion market cap.
