Thursday, May 14, 2009

Union, not just for breakfast anymore.

Hi everyone,

For every action, there's an equal and opposite reaction. The guys on Wall Street and the corporate boards, insulated from stock holders, asked for it.



James Dionne said...

Unions are all fine and dandy, until all the jobs are in Mexico. People forget that union leaders can be greedy and corrupt, too.

Mpeterson said...

You mean, like the CEO's?

James Dionne said...

I'm not saying that there aren't any corrupt CEO's. I'm just saying that Union leaders have a long history of corruption.

Mpeterson said...

I guess I was thinking more in terms of a utilitarian calculus: working out who typically grabs more of the money in a way that makes the lives of the greater number of people miserable.

If union guys grab money, it typically requires they increase the wages and benefits of their union members, even if they are themselves crooks. When CEO's grab money, they grab significant more of it and nearly always at the expense of workers' wages and benefits.

For instance, let's say a union worker earns $50,000 a year with benefits and the CEO earns 30 million. It's easy to forget that 30 million is still 600 times more money. That means the regular worker would have to work 600 years to earn what the CEO earns in one year.

This equates money with happiness, of course -- which is problematic -- but it's a rough estimate of utility.

So, we're still better off, even if the union leaders are crooks.

Anonymous said...

I came across a interesting tidbit today. The CEO of Ford makes $21 million, the CEO of Toyota less than 1 million a year. Larry T.

Anonymous said...

I just received a response from Sen. Kohl. It appears his has changed his mind from the previous response he sent me. He seems to be on board now with the Employee Free Choice Act. Hooray! Larry T.