Posts tagged 401(k)
UAW members aren’t all assembling cars. More and more are unionized grad students
October 23, 2023 // These days, the "A" in UAW might as well include academia, as roughly 100,000 of the union's 383,000 members work in higher education. They include graduate students who work as teaching and research assistants, clerical and technical workers, adjunct professors and postdocs.
Unions say they’re “far apart” in talks with Detroit’s three casinos as contract end nears
October 17, 2023 // Another issue is the increasing use of technology in hotels and casinos to replace workers - such as automated check-ins at hotels, and bartending machines that can mix drinks. Winston said the unions want to be part of any discussions with management over whether those technologies are adopted in Detroit casinos.
Workers at Mack Trucks set to strike after rejecting tentative contract deal
October 9, 2023 // Union workers at Mack Trucks have voted down a tentative five-year contract agreement reached with the company and plan to strike at 7 a.m. Monday, the United Auto Workers union says. Union President Shawn Fain said in a letter to Mack parent company Volvo Trucks that 73% of workers voted against the deal in results counted on Sunday. The UAW represents about 4,000 Mack workers in three states. Union leaders had reached a tentative agreement on the deal on Oct. 1. The deal included a 19% pay raise over the life of the contract with 10% upon ratification. There also was a $3,500 ratification bonus, no increase in weekly health care contributions, increased annual lump sum payments for retirees and a $1,000 annual 401(k) lump sum to offset health care costs for employees who don’t get health insurance after retirement. Fain said in his letter to Volvo Trucks’ head of labor relations that employees working early Monday will exit the factories after performing tasks needed to prevent damage to company equipment.
Terence Crawford Takes Aim at Boxing Corruption, Wants to Start Union
August 18, 2023 // “If all of the top fighters with a name and a brand behind them came together, we could make change,” he said. “We have different races, different ages, different countries — it’s everyone from all walks of life coming together. I think it can be done.” In January 2022, Crawford filed a lawsuit seeking nearly $10 million against his former promoter Bob Arum of Top Rank, accusing him of racial bias against promoting Black fighters. “Boxing is one of the most corrupted sports there is and ever [has] been in the history of sports,” Crawford said in another interview with Boardroom. “We’ll take a $5 million guarantee not knowing there’s $30 million dollars that we missed,” he added. “Once I started asking [contract] questions and learning a bit here and there, it became a problem between me and my old promoter, and at that point in time, I knew it was time to go.”
Opinion: These powerful unions helped flip the Pennsylvania House
May 4, 2023 // Union executives’ political spending continues to break records. For the first time in Pennsylvania history, government unions’ combined political action committee spending surpassed $20 million in one election cycle, more than triple what they spent a decade ago. By comparison, the record-breaking spending in the seven-way Pennsylvania Supreme Court race in 2015 reached a total of $15.8 million across all candidates from all parties. For the governor’s race alone, public sector union executives gave nearly $5.5 million in direct political contributions to Josh Shapiro’s campaign. Three unions in particular — the commonwealth’s largest teacher union, the Pennsylvania State Education Association, and two national unions representing state workers, the Service Employees International Union and the American Federation of State, County and Municipal Employees — reported more than $1 million each. It’s no coincidence that Shapiro must soon sit down and bargain with SEIU and AFSCME executives and that the PSEA expects huge returns in terms of state funding.
Biden set for first veto on Senate bill opposing climate-friendly investing
March 2, 2023 // President Biden is expected to issue the first veto of his presidency after the Senate passed a bill Wednesday that would revoke a Labor Department rule allowing the managers of the agency’s vast retirement funds to use climate-oriented and social criteria when making investments. The Senate passed the measure after Sens. Jon Tester (D-Mont.) and Joe Manchin III (D-W.Va.) crossed party lines and joined the Republicans, providing the key pieces of the 50-46 majority needed. Both senators are up for reelection next year in heavily Republican states. Four senators abstained. The House passed the bill on Tuesday. The measure takes aim at big asset managers who often use criteria that they believe are crucial for building a portfolio that can withstand changes, especially climate changes, over the coming years. These criteria are known as ESG — environmental, social and governance — and have become sensitive political and cultural touchstones, with critics calling them evidence of “woke” financial institutions.
Can Women Help Fill the Shortage of Trade Workers? Unions Are Betting On It.
February 15, 2023 // Her website bio describes her as a feminist plumber, but Judaline Cassidy is more than that. She’s nothing short of a tradeswoman evangelist, preaching the gospel of tradework to the masses, and she hopes women are listening. Cassidy was raised by her grandmother in Trinidad and Tobago. Without money to attend college, she began to look at trades, which she saw as the one way she could learn an employable skill and get paid doing it. She chose plumbing.
Union representing Disney World employees urging workers to reject company’s latest wage offer
January 31, 2023 // Disney spokesperson said, "This very strong offer provides our Cast Members with a nearly 10% average increase immediately and guaranteed raises for the next four years with every single non-tipped Cast Member promised at least a $20 starting wage during the contract, and the majority seeing a 33% to 46% increase during that time." All six unions representing workers in the Service Trades Council Union (STCU) are recommending that members vote no on Disney's contract proposal to keep fighting for a better pay rate.
Who Says Unions And ESOPs Don’t Mingle?
December 21, 2022 // Plus, with vigorous ESOP-related activity in Congress and state legislatures, I stand by my prediction that this will be the Decade of the ESOPs. In 2022, three major bills delivered significant incentives for existing and future ESOPs. They include the National Defense Appropriations Act, the Inflation Reduction Act that exempts ESOPS from a new 1% excise tax on corporate stock repurchases, and a measure signed in August strengthening the U.S. semiconductor industry that singles out employee-owned companies and associations for targeted support.