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Metalworking (rec.crafts.metalworking) Discuss various aspects of working with metal, such as machining, welding, metal joining, screwing, casting, hardening/tempering, blacksmithing/forging, spinning and hammer work, sheet metal work. |
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#1
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While trade union members are called "communists", money traderssplit $38 billion bonus
As trade union member, who has found himself flopping around in a
muddy ditch laying conduit on mant occasions, I find it somewhat puzzling the vitriol I sometimes hear from even other trades people at how unions demand a certain wage standard for their efforts. Not extravagent wages....just a wage package with which to raise even a modest sized family with some level of comfort in this society. The most puzzling aspect to all this is the silence of these same union critics when it come to the salaries of say.....money changers. What do these people do for us...these manipulators of numbers...these parasites...these carrion eaters ? These people who so often profit from misery and collapse. Our perspective has become so upside down. Some will call me envious..."class envy". I don't think that's it. I refuse to think of myself as a serf/slave. Rather it is these union haters that are so class conscious.....they believe in the classes, believe that they are of a lower class. They don't somehow deserve better, but people like these money changers DO deserve it. Many of you union haters are stuck with a slave mentality. ******Shareholders in the securities industry are having their worst year since 2002, losing $74 billion of their equity. That won't prevent Wall Street from paying record bonuses, totaling almost $38 billion. That money, split among about 186,000 workers at Goldman Sachs Group Inc., Morgan Stanley, Merrill Lynch & Co., Lehman Brothers Holdings Inc. and Bear Stearns Cos., equates to an average of $201,500 per person, according to data compiled by Bloomberg. The five biggest U.S. securities firms paid $36 billion to employees last year. The bigger bonus pool derives from a record $9 billion of fees for arranging acquisitions and $5 billion for underwriting initial public offerings and sales of junk bonds, the most lucrative securities, Bloomberg data show http://www.bloomberg.com/apps/news?p...efer=worldwide |
#2
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OT: While trade union members are called "communists"
subject changed to:
OT: While trade union members are called "communists" was While trade union members are called "communists"... On Mon, 19 Nov 2007 07:52:35 -0800 (PST), GatherNoMoss wrote: As trade union member, who has found himself flopping around in a muddy ditch laying conduit on mant occasions, I find it somewhat puzzling the vitriol I sometimes hear from even other trades people at how unions demand a certain wage standard for their efforts. Not extravagent wages....just a wage package with which to raise even a modest sized family with some level of comfort in this society. The most puzzling aspect to all this is the silence of these same union critics when it come to the salaries of say.....money changers. What do these people do for us...these manipulators of numbers...these parasites...these carrion eaters ? These people who so often profit from misery and collapse. Our perspective has become so upside down. ============ If this resonates even a little click on http://www.bloomberg.com/apps/news?p...efer=worldwide to see entire article ============= Wall Street Plans $38 Billion of Bonuses as Shareholders Lose By Christine Harper Enlarge Image/Details Nov. 19 (Bloomberg) -- Shareholders in the securities industry are having their worst year since 2002, losing $74 billion of their equity. That won't prevent Wall Street from paying record bonuses, totaling almost $38 billion. That money, split among about 186,000 workers at Goldman Sachs Group Inc., Morgan Stanley, Merrill Lynch & Co., Lehman Brothers Holdings Inc. and Bear Stearns Cos., equates to an average of $201,500 per person, according to data compiled by Bloomberg. The five biggest U.S. securities firms paid $36 billion to employees last year. snip Goldman's record earnings and gains at Morgan Stanley and Lehman mean all the New York-based firms will be forced to pay more in a year when all but Goldman lost more than 20 percent of their market value, said Charles Geisst, finance professor at Manhattan College in Riverdale, New York. ``They're all going to have to fall into line,'' said Geisst, author of ``100 Years of Wall Street.'' ``If Bear and Merrill plead poverty, they're going to lose all of their good people.'' snip The industry's bonuses are larger than the gross domestic products of Sri Lanka, Lebanon or Bulgaria. The average $201,500 bonus is more than four times the $48,201 median household income in the U.S. last year, according to U.S. Census Bureau statistics. snip [What down real-estate market????] Demand for ``super-luxury'' apartments in Manhattan, those priced at or above $10 million, also was at an all-time high in 2007, said Pamela Liebman, chief executive officer of the Corcoran Group real estate brokers. A 12-room Park Avenue apartment placed on the market this month sold in less than a week for more than the $12 million asking price, she said. snip ============ Let them eat cake...... Unka' George [George McDuffee] ============ Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains. Thomas Jefferson (1743-1826), U.S. president. Letter, 17 March 1814. |
#3
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While trade union members are called "communists", money traderssplit $38 billion bonus
GatherNoMoss wrote:
As trade union member, who has found himself flopping around in a muddy ditch laying conduit on mant occasions, I find it somewhat puzzling the vitriol I sometimes hear from even other trades people at how unions demand a certain wage standard for their efforts. Not extravagent wages....just a wage package with which to raise even a modest sized family with some level of comfort in this society. The most puzzling aspect to all this is the silence of these same union critics when it come to the salaries of say.....money changers. What do these people do for us...these manipulators of numbers...these parasites...these carrion eaters ? These people who so often profit from misery and collapse. Our perspective has become so upside down. Some will call me envious..."class envy". I don't think that's it. I refuse to think of myself as a serf/slave. Rather it is these union haters that are so class conscious.....they believe in the classes, believe that they are of a lower class. They don't somehow deserve better, but people like these money changers DO deserve it. Many of you union haters are stuck with a slave mentality. -- snip -- When unions are asking for a good living wage to do honest work, that's a good thing. But all too often, unions don't promote pay for value -- they promote pay for a warm body, and damnation for the manager or business owner who wants to retain and reward the really good people. Not only that, if a worker wants to improve his or her station by rising above the mediocre a union environment automatically pits him against all his co-workers. As witness to this ceiling of excellence in union jobs, of the handful of people I know who have worked in union jobs, about half have been threatened with violence for working too energetically. I can work faster than most of my peers, on more technically difficult material. I like to have that capability reflected in my paycheck, without having to go through some bureaucracy to make it happen. I _certainly_ don't want to have to put up with threats (although mine is a white collar profession -- it would be interesting to see what form threats would take in that environment). So put in my vote for unions being a necessary evil -- necessary because concentrating power in the hands of big-company management leads to evil behavior, but evil because concentrating power in the hands of the union leads to the same evil, only pointed in a slightly different direction and wearing a different mask. -- Tim Wescott Wescott Design Services http://www.wescottdesign.com Do you need to implement control loops in software? "Applied Control Theory for Embedded Systems" gives you just what it says. See details at http://www.wescottdesign.com/actfes/actfes.html |
#4
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While trade union members are called "communists", money traders split $38 billion bonus
On Mon, 19 Nov 2007 07:52:35 -0800 (PST), GatherNoMoss
wrote: As trade union member, who has found himself flopping around in a muddy ditch laying conduit on mant occasions, I find it somewhat puzzling the vitriol I sometimes hear from even other trades people at how unions demand a certain wage standard for their efforts. Not extravagent wages....just a wage package with which to raise even a modest sized family with some level of comfort in this society. Not to start an argument but where did the money to pay for that conduit you were laying come from? And if your conduit was part of a larger project, where did the money to finance that project come from? You probably had medical insurance. Lets, for argument, say that your insurance premiums were $1,000 a year. So you work six months and bust your gizzard and have to have an operation and it costs $2,000 and the insurance pays for it. Since you've only paid $500 where did the extra money come from? If you can answer those questions you can maybe figure out what the money changers do. By the way, you answered your own question about the bonuses. The company received fees for the 14 billion dollars of transactions that they handled. Not a bit different then you company laying conduit. They buy the conduit for $1.00, pay you $1.00 to lay it and charge the customer $3.00. Bruce-in-Bangkok (Note:remove underscores from address for reply) |
#5
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While trade union members are called "communists", money traders split $38 billion bonus
GatherNoMoss wrote:
The most puzzling aspect to all this is the silence of these same union critics when it come to the salaries of say.....money changers. What do these people do for us...these manipulators of numbers...these parasites...these carrion eaters ? These people who so often profit from misery and collapse. Well I did think it a bit unseemly that there was bonuses all around after many financial firms took huge losses. I still don't care for unions but this is apples and oranges. Wes |
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