Outrageous Example Of Corporate Greed From Caterpillar - TYT

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"...manufacturing giant Caterpillar was seeking major concessions during contract negotiations with striking workers, even as it was making billions in profits and giving its CEO a 60 percent pay boost. The New York Times' Steven Greenhouse added more details today, noting that the company wants to implement a six-year pay freeze and a pension freeze, at a time when it is making record profits...". The Young Turks host Cenk Uygur breaks it down on The Young Turks.
Read more here from Pat Garofalo at ThinkProgress:
http://thinkprogress.org/economy/2012/07/23/567201/caterpillar-pay-freeze/?mo...
Porksandwichsays...

They are building a new plant near me. And honestly I think the people wanting to get hired there would probably take a six year pay freeze as part of their employment agreement. It's them using the out of work people in the area from GM closure and other closures to put the squeeze on their current employees, and their employees if they've been unemployed at all HAVE to know that they could be replaced.

My hope is that in 5 and 10 years time, people remember what was done by Caterpillar and choose to not buy their products and work for competitors when the same wage is offered. If people actually remembered and took historical decisions (not in the past year, but 5 or 10 years and more) in their context of the time and use that in their decision making....I just don't see how a company could withstand doing that kind of shit for long.

Unfortunately, people have very short memories and what happened last week, last hour, last minute, last second mentality in all things involving money now. Corporations have fostered that, but people have bowed to it.


I really doubt they get 6 years agreement, but I bet they get at least 3 years on a wage freeze. I also bet their products go up in price more than if the wages had not been frozen, and they end up blaming the workers/unions for those price increases. Insurance will be my first guess on what they blame specifically for costs. And they will secretly question all of those worker comp claims, because those frozen wages probably lead to a lot of disgruntled employees that they now have to monitor more closely and hire extra managers to watch.

hpqpsays...

A CEO should not be able to make more than 12 times the salary of the company's lowest-paid worker. Want higher salary? Raise the lower salaries as well. /wishful thinking

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