The Rules Changed a Long Time Ago....
Quote:
Originally Posted by
BankruptcyGuy
In bankruptcy cases, THIS IS NOT WHAT HAPPENS. [[sorry for the screaming) Ask the folks at Hostess. Or countless steel or airline employees. I don't know if the unions don't trust anyone else, or if they don't know any better. But simply holding out for a better deal could leave them as the last holdout, and that person will be given the deal to which the rest of the parties have agreed.
I don't know how many US Steels, Northwest Airlines, Delphi, Hostess, etc. we need to see before unions realize that things are not the way they used to be.
Union leadership needs to stop saying "Where the money comes from is not our problem". Certainly they shouldn't take the majority of the blame, let alone the whole blame. But you do have to wonder...when the Firefighters Union was fighting tooth and nail to remove the residency requirement, who did they think was going to replace the lost revenue that would be used to pay their pensions?
And unions aren't the only example:
- People need to learn that breaking into someone else's house is not just a crime, but that it will likely get you killed.
- You can't operate a motor vehicle on Belle Isle when you've had your driver's license suspended 18 times.
- A white mayoral candidate, born to a Republican judge and residing in the suburbs can get an endorsement from a Black Panther and annihilate the competition in a write-in campaign in Detroit.
Things are not going back to the way they used to be. I wonder how long it's going to take for people to realize it?
Retired Police and Fire Association Negotiate Deal with No Pension Cuts, but....
...enormous pressure on the General Retirees. Grand Bargain goes away unless both the PFRS and GRS both approve the plan.
The PFRS pension cuts were only going to be 6%, so it's a little more feasible to keep cuts at 0%. GRS pension cuts were going to be 20%+. Will be interesting to see where they end up.
Quote:
The deal with the retiree association comes as mediation continues with the Detroit Retirement Systems — which control the city’s pension fund assets — and the U.S. government-appointed Official Committee of Retirees.
http://www.freep.com/article/20140415/NEWS01/304150090/Detroit-bankruptcy-pension-deal-Kevyn-Orr