Here is a viewers comment about a piece I wrote yesterday on corporate entitlements. Let me clarify that anything a worker bargains for, and corporations agree to, should be honored. But, I don't know if corporations can, or will, hold up to their end of the bargain. The movement toward globalism is a much larger goal for these companies.
Pensions are not "entitlement programs." A pension is a part of a workers pay. It is the part paid at the end of a career instead of at the end of a pay period. Every company with a defined pension plan knows they have to set aside money for this just as they set aside money for regular payrolls. Anything else is fraud.
When unions go to the bargaining table for their members, they negotiate for wages, rights and benefits. Many of these benefits have a long history (a legacy), and have become a major part of an employees overall compensation.
Many years ago, unions went to the bargaining table and fought for benefits that companies have agreed to, and workers feel they are entitled. Since many of these benefits (like pensions and healthcare) have a long history, employees have grown to expect these benefits.
Unfortunately, corporations are unlike a government program that guarantees benefits to a particular group. Corporations do not generate their cash from taxes, but from profits in a competitive market place.
In the case of GM, Ford, Delphi, and a host of others, the retirement and healthcare benefits promised to employees are crippling their businesses. The workers of these companies had nothing to do with this misfortune; this is a direct result of pressures of globalism.
I have been writing extensively about the outsourcing of American jobs, and the basic selling out of our nation痴 sovereignty by politicians for quite sometime. It is a national travesty.
Of course, the selling out of our nation was started by our large multinational corporations. They cannot complete their mission of globalizing the economy, and the redistribution wealth, without taking it from the American worker.
So, as terrible as it is, corporations will try to eliminate their legacy costs (what workers bargained for and feel they are entitled), to complete their mission of a global economy.
Do I think it痴 fair? No way! But what choice do they have? As was the case with Delphi, if companies do not get what they want, they will file for bankruptcy, all contracts will be null and void, and they will ship labor jobs to cheaper markets.
Personally, I feel that Americans should start to take their country back now. The only way to do this is to hit these multinationals rights where it hurts, in the pocketbook. I realize that outsourcing has kept prices low and the inflation numbers (if you believe the numbers) down, but at what future cost to the nation痴 workforce?
I would like to see a nationwide 釘uy American� movement again. This would really throw a monkey wrench into the stock options of CEO痴 and their directors. Who knows, we may even get to buy Wal-Mart stock in the mid 20痴.
