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Gerry Clinchy
06-28-2010, 08:20 AM
NY Times
http://www.nytimes.com/2010/06/28/business/28union.html?th&emc=th

Kind of an interesting development.



For years, Republican lawmakers have railed against public employees’ pay and benefits, but now another breed of elected official is demanding labor concessions, too: current and former labor leaders and allies themselves.

After 12 years erecting steel beams for office buildings, Mr. Sweeney became a top official in New Jersey’s ironworkers union, now holding that post along with his legislative one. He says the state can no longer afford the benefits won over the years by public sector unions.
“At some point, you reach the limit of your ability to pay,” he said.

Marvin S
06-28-2010, 08:29 AM
NY Times
http://www.nytimes.com/2010/06/28/business/28union.html?th&emc=th

Kind of an interesting development.

Like the housing mess, anyone who applied elementary mathematics skills could see this coming.

:( that by the time it makes the paper it's really out of control.

Gerry Clinchy
06-28-2010, 09:02 AM
No doubt about it. Our local cities here are going through the same problems.

One of the cities foolishly agreed that police pensions would be based on the highest pay periods ... so a bunch of older policemen put in a bunch of overtime just before they retired ... and ended up that their retirement stipend was more than they had ever regularly earned while they were actually working.

It would be logical to base pension on an average or a median of the most recent 5 or 10 years (to account for current cost of living v. what compensation was 20 years ago) ... but to arbitrarily take the highest pay period without taking into account how much of it was overtime? Pure dumbness on the part of the city administration. The policemen were much smarter as they quickly figured out how to tweek that loophole :-)

Needless to say, there was a big to-do about that when the information became public ... as the taxpayers of that city continue to get choked with ever-increasing property taxes that are definitively higher than surrounding municipalities.