Your union dues at work

[JB White]

I see the pro-union crowd justifying unions by telling us how much better they have it.

They never discuss how we, the general public, have it with higher prices, shoddy goods and higher taxes to pay for union-negotiated government pensions.

Vern, nobody here said union plans were better than anyones. Plenty of companies out there are offering more than any union can. I only stated that my plan went with me each and every time I followed the work and changed contractors. Some of those contractors hired me back many times when they had the work and my project was done. All without a hiccup in benefits. When I was starting out trying to find my place in the world I lost my insurance when I changed jobs. I also have family members who suffered exactly what I stated in regard to losses when a company closed their doors.
Hogwash as Red put it? I think Red needs to open his eyes a little more instead of getting confrontational with outdated bull****.

Also Vern, contrary to what you might think....

They never discuss how we, the general public, have it with higher prices, shoddy goods and higher taxes to pay for union-negotiated government pensions.

....union members ARE the general public too! Why do you think we are in a seperate class of people? Furthermore, not a single union member in this entire thread has defended the way public sector unions are gouging the taxpayers. After all, we union members are taxpayers the same as you.

[Marine A5 Sniper]

Debt holders always get paid before the stockholders.

Not true. It depends on the legal agreements within the company. In my case, one of the stock holders had an agreement that he would be repaid a loan he made to the company, plus his stock would be bought back at a predetermined value before any other funds were paid out. The judge upheld the agreement, and he was paid 100% of his money before the employees were paid, who in some cases, received nothing from back pay owed them (I was one of them).

Don't believe old wives' tales. There are always exceptions.

jt

[RED]

Not true. It depends on the legal agreements within the company.

In your example, he got paid because he was a debtor, the fact that he was also a stockholder had no bearing. You can own both stocks and bonds but the debt holders always get paid before the stockholders get anything. That's in the bankruptcy laws.

[Marine A5 Sniper]

In your example, he got paid because he was a debtor, the fact that he was also a stockholder had no bearing. You can own both stocks and bonds but the debt holders always get paid before the stockholders get anything. That's in the bankruptcy laws.

His stock was bought back, which means he, as a stockholder, was paid ($750,000) before any other debtors or employees. There are always exceptions to the rule.

Every state has its own bankruptcy laws. They are not all the same.

jt

[RED]

You must be right then and the Federal gov't is wrong.

http://www.sec.gov/investor/pubs/bankrupt.htm

The investors who take the least risk are paid first. For example, secured creditors take less risk because the credit that they extend is usually backed by collateral, such as a mortgage or other assets of the company. They know they will get paid first if the company declares bankruptcy.

I don't make this stuff up.

[Marine A5 Sniper]

You must be right then and the Federal gov't is wrong. I don't make this stuff up.

Nor do I.

jt

[Vern Humphrey]

Also Vern, contrary to what you might think....



....union members ARE the general public too! Why do you think we are in a seperate class of people? Furthermore, not a single union member in this entire thread has defended the way public sector unions are gouging the taxpayers. After all, we union members are taxpayers the same as you.

No. Union members are members of the general public -- about 9% of the work force. And this tiny minority wants the rest of us to pay their benefits.

[JB White]

Vern, please do tell how you have to pay my benefits as a carpenter, or for any other trade member here?

[da gimp]

Vern, my lil bro, in this, thou sufferth an acute case of "cranialrectumitis".........

Brits Out........

[Vern Humphrey]

Vern, please do tell how you have to pay my benefits as a carpenter, or for any other trade member here?

When I buy goods made by union members, I pay higher prices -- the union makes its money off the consumer. That's why automobiles, for example, made in right-to-work states offer higher quality at better prices than Government Motors.

And if the union member is a public "servant" he is paid -- salary, perks and pension -- out of my tax dollars.