Joe Doakes from Como Park emails:
“ . . . new employees are seen as crucial to ensure ample funding for the wave of retiring baby boomers . . . .”
This is the exact definition of Ponzi Scheme but the Post doesn’t seem to notice that the union’s position is absurd and in any other context, illegal.
Read the whole thing.
This is what people with half a brain are up against: people with less than half a brain.
“Bakery, Confectionery, Tobacco Workers and Grain Millers union”
That’s a strange mix of professions.
By and large, Unions are the most economically illiterate organizations on earth. Besides the government, I mean.
By and large, Unions are the most economically illiterate organizations on earth. Besides the government, I mean.
Must be why they keep winding up in bed together.
I suppose the new union plan is to demand a high pension benefit in return for lower wage demands. Both the company and the union know that the money won’t there to pay the pension, and are working under the assumption that the feds will bail out the plan for close to parity.
Union Negotiator 1: How do we split the increase between pay and pension funding?
Union Negotiator 2: Put everything in pay, nothing in funding. That way the base for pensions will be higher when the member retires.
Union Negotiator 1: But what do we do when the fund runs out of money?
Union Negotiator 2: Blame Republican greed, of course.