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Gold/Mining/Energy : Gold Price Monitor
GDXJ 93.98+0.6%Nov 21 4:00 PM EST
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To: brent hyatt who wrote (21512)10/13/1998 9:11:00 AM
From: Bill Jackson  Read Replies (2) of 116764
 
Brent, I have no sympathy for ex members of steelworkers or autoworkers unions. Their union management killed their jobs with incessant demands for higher wages. When the managers had the choice of pay them and go broke or endure the strike and go broke, they paid them and postponed plant renewals to stop going broke. When those plant renewals came they were so highly automated that many workers lost their jobs. One thinks that a lower wage would have allowed the automation to be postponed and offshore competition to endure.
Remember that a job that pays $25/hour to tighten screws is not a good job at all, it forces work offshore and also leaves our companies prey to offshore manufacturers with no domestic roots.
Many American fabricators were forced offshore by labor costs to keep their sales. If they did not they would have lost both the manufacturing profits and the distribution profits.

We have a group of steel workers in Toronto in the third year of a strike. They were getting $18-19 per hour plus $5 per hour in paid benefits, and they decided to kill their own jobs through greed.

I feel we should help those who are prey to outside forces, but not those who did themselves in by drink, drugs, strikes and other self inflicted injuries.

Bill
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