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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread
VTI 341.85-0.1%Jan 16 4:00 PM EST
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To: Boca_PETE who wrote (6982)3/13/2012 10:44:48 AM
From: Justa Werkenstiff2 Recommendations  Read Replies (2) of 10065
 
Hi Pete:

Teachers are being laid off in my hometown and in New York State this year.

And these are good teachers. They use a union LIFO method to decide who goes.

The district's rainy day funds have been used up over the past few year. Raising taxes is problematic because there is a tax cap. So they are facing budget shortfalls. This situation has flushed out two problems:

  • Benefits and pension costs for those who have retired.
  • High administrative costs.

You are right though in that the schools and the states, for that matter, have pay, benefits and job security far in excess of the private sector. It is like they work on a different planet.

Best,

Justa

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