John Deere strike imminent?

Pics from drive-by of both of the west entrances, Ankeny plant, yesterday afternoon.

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How did this thread get so sidetracked on talking about pensions, 401k, and social security. There is only 1 true reason why companies are moving AWAY from pensions and going towards 401k matches. It's all about the balance sheet. A pension is booked as a liability and stays on the balance sheet for the life of the employee whereas a 401k match is booked as an expense on the balance sheet and not as a long term liability. It's all about that balance sheet and making it look better.

Maybe partially true. The other aspect is the actual risk. If stocks decline, the company is at risk with lower returns but same expectation of paying pension amounts. 401k puts that risk on the individual. Stock market crashes the day before you retire, you have to adjust.
 
Skimmed through all of this and saw a point missing. This type of thing usually occurs when a labor contract is expiring and a new agreement must be reached (didn't did enough to confirm this is the case). This is then generally a known event so office workers do start crosstraining ahead of time. Are they as proficient as the skilled technicians doing the job? Absolutely not, but usually passable which is what is needed to garner leverage in negotiations that are now occurring. Whoever can project being able to last longer will have the upper hand in the agreement. During this time, salary workers can work significant overtime at their salary rate. They do try to align previous training or skills to an operations job. Had a single friend who knew how to weld (not as well as a professional) and would work 70 hours a week welding during one of these at an engineers salary. Made bank.

Don't work at Deere, just another large manufacturer.
 
Talked to a guy that is one of the ones on strike last night. He said the general feeling of those in his area, and himself, is that they are nervous as hell.
 
JD cutting health insurance for striking workers OCT 27th


Interesting. The trade union I belong to administers their own health and welfare program as well as retirement. I'm guessing the difference is due to the nature of the signatory members. Trade unions have many signatory members while in this case there are basically two, JD and the UAW.
 
I like how he added...."they could easily "NOT" have done this".

Well, the workers could easily have "NOT" gone on strike.
As a preventative measure or worse case, they can enroll in short term health insurance through United health care or get Aflac accident health insurance or go through the exchange and get Medica. Either way these people are destitute and have plenty of options.
 
Interesting. The trade union I belong to administers their own health and welfare program as well as retirement. I'm guessing the difference is due to the nature of the signatory members. Trade unions have many signatory members while in this case there are basically two, JD and the UAW.
I think the bigger reason the UAW doesn’t administer benefit is the the Companies that they represent already have benefits for other employee groups so it’s easier to have UAW group benefits go through the various Company administrators instead of creating a whole new department to do it through the Union.
Additionally you don’t have issues with misappropriations of those funds. Refer to some of the problems the Teamster have had working with the piles of money in their pension funds.
 
I think the bigger reason the UAW doesn’t administer benefit is the the Companies that they represent already have benefits for other employee groups so it’s easier to have UAW group benefits go through the various Company administrators instead of creating a whole new department to do it through the Union.
Additionally you don’t have issues with misappropriations of those funds. Refer to some of the problems the Teamster have had working with the piles of money in their pension funds.
Companies misappropriate funds as well. That isn't a union only issue.
 
Companies misappropriate funds as well. That isn't a union only issue.
Not saying it is strictly a union issue. Just saying the UAW is sticking with what they know, representation and contract negotiations, and leaving benefit administration to people whose area of expertise is in that field.
 
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Thread re: JD and the strike.

EDIT: NM, @Cyched was quicker.


Wow, take out UAW dues and they don’t make ****. Workers are getting raw dogged by Deere and the UAW. Sorry, if in the current labor market if these workers are remotely skilled, if UAW is charging dues and getting them $20 an hour, they are a complete failure and completely exploiting these workers.