Good example of why unions are stupid as all hell

Quote from trefoil:

If it's still operating it's under Chapter 11. The union as a creditor in the process can take whatever action it chooses in the negotiations over who gets paid what and how much, including a strike. Business negotiations over payment are very frequently a contact sport. Real life, you know.
More...

employess are not creditors. How can they be? They are not owed anything because they are paid for their services up front.

maybe you didnt read the press release correctly. if the strike does not end, then everybody loses their job. so you can philosophize all you want, but you cant make your mortgage payment with philosophy.
 
Quote from ChkitOut:

employess are not creditors. How can they be? They are not owed anything because they are paid for their services up front.

maybe you didnt read the press release correctly. if the strike does not end, then everybody loses their job. so you can philosophize all you want, but you cant make your mortgage payment with philosophy.
More...

No, not true, payroll is a debt like anything else, and the workers are treated as creditors. I think legally they're way down the list of folks who get paid, not sure about that part.
Regardless, the union is representing the folks to whom that debt is owed. As for Hostess's threat, eh whatevs. All kinds of things get said and done in an argument.
 
Quote from Ricter:

Shrug. Suppose management ruins the company.
More...

Shrug...:D

Like the "managers" at Fannie and Freddie or the current fiscal managers of our Federal budget?

Look, we are either about jobs or not.

Imo, this country is not about retaining jobs at any price. I'm sure it is less costly to retain jobs than create jobs. How many times has Obama met with his Jobs czar - zero. As if Immelt needs a job.

No one is serious about remaining employeed for the sake of the benefits of staying employed and how the future benefit of having a job may play out.
 
To quote:

There are two types of claims (and creditors) in a bankruptcy case: secured claims and unsecured claims. A secured claim is one that gives the creditor an interest in property as assurance of payment. For example, when people borrow money to buy a house to live in, a mortgage on the house secures the loan. If the buyers default on their loan payments, the lender gets the house, which it can sell to recover at least some of the money the buyers owe. If the buyers file for bankruptcy, however, the automatic stay prevents the lender from taking the house, and the house becomes exempt property unless the court grants a motion for relief from stay to permit the lender to foreclose on the house.

The holder of an unsecured claim can’t look to any specific property of the debtor for payment, but the Bankruptcy Code gives some unsecured claims priority over others. Unsecured claims can be divided into two categories: priority and nonpriority. Unsecured creditors whose claims have priority must be paid in full before nonpriority unsecured creditors get anything. Employees of a business, for example, have earned wages, vacation time, and pensions all on a promise to pay, and they hold no security interest in anything. Their claims are among the nine types of priority claims, and these claims must be paid in order; each type is paid in full before the next type. Other priority claims include those for alimony, child support, and taxes.
More...

Source: http://www.fjc.gov/federal/courts.nsf/autoframe!openform&nav=menu1&page=/federal/courts.nsf/page/252
 
Quote from nutmeg:

Shrug...:D

Like the "managers" at Fannie and Freddie or the current fiscal managers of our Federal budget?
More...
Company failure due to management error is by far the typical case.
 
Liberals don't realize that business does not owe them a job. It doesn't owe anybody a job. If labor doesn't want the jobs as they are offered the business has no obligation to continue employing them or even continuing the business. Period.
 
Quote from Ricter:

Company failure due to management error is by far the typical case.
More...

I'm sure it is.

Back in the day, an attempt to expand my business meant risking everything. Double or nothing. Who wants those odds? Kudos to those who expand and are successful.
 
Quote from nutmeg:

I'm sure it is.

Back in the day, an attempt to expand my business meant risking everything. Double or nothing. Who wants those odds? Kudos to those who expand and are successful.
More...
Agreed. The entrepreneur is the best of the management class.
 
You must log in or register to reply here.
Back
Top