Federal employees COLA slashed

[GMDino]

(02-17-2020, 11:20 AM)Benton Wrote: Matt already addressed the bigger picture aspect, but I'll add that sometimes it does.

Look at Hostess a few years ago. After several years of consecutive raises for upper management and their CEO, the teamsters went on strike the second (or third?) year that they were asked not to negotiate a raise for members. Profits were up, upper management was receiving significant raises, but they didn't want employees to have a cost of living adjustment. When the union said "no" to two years of flat salaries, the management tried to paint it as 'evil union thugs are stealing your Twinkies!' 

100% this.



The same happens when the "venture capitalists" come in to "save" a company.

They pay themselves huge amounts, get concessions from the workers to "keep their jobs", drain the profits and then declare bankruptcy and close up and leave the employees hanging.