John Deere strike imminent?
- Thread starter ISUCyclones2015
- Start date
Don't disagree, but pensions are creating major issues and it's not sustainable
Pensions are sustainable if funded correctly. They are a complete disaster if not adequately funded. The problem is places will promise certain returns and then won’t find them in a way to sustain their promises.
My wife started funding her roth about 6 years after she started teaching and has never been more than 2/3rds of what has went into IPERS. At 59 1/2, within a decade, the gains on her Roth annually will be more than what IPERS pays her annually.
There is a very large group of workers blocking the main entrance to the Ankeny plant this morning.
Hagie is non-union in the plant so doesn't affect them I believe
Deere is the majority owner of Hagie, but Hagie workers are not organized or represented by the UAW. I’m sure it is business as usual for them today and going forward.
Majority have been mismanaged and that is why they are being phased out.
The average production worker at Deere makes about $60K last year, and could end this contract earning about $72K. 20% increase over 6 year period and year 1 would have been a 6% increase, but the UAW rejected that offer.
Isnt it ironic then that one of the biggest arguments to keep Pensions is that people would mismanage their own retirement when so many of the pensions have collapsed due to mismanagement?
I'm going to drive by Engineworks after a bit here but my SIL drove past Tractor Assembly this morning and said the picket was pretty small.
I assume most of the factory workers I know will be farming today, not standing in the picket line.
I think this is true but there is parts flow between facilities so if the strike drags on, it will probably affect them in the near future when they run low on parts from a facility on strike.
We got a bunch of rain up here yesterday so I was assuming it would be too wet for that today but maybe not.
