I keep reading about "fat cat CEOs" and that they are the ones who caused the current economic crisis. It's so easy to blame rich, successful people for the woes of the poor and middle class(which I am), but I'm sorry to say it's baloney.
What caused us to really spiral into the crap can was the whole mortgage lending debacle, which involved corrupt bankers and--YES!--regular folks who bought a house they knew they couldn't afford. Begeez, why the hell would anyone with a brain cell buy a house with an adjustable rate mortgage?? If your income or credit's too crappy to get a fixed rate, guess what?? You can't afford a home! It really does not take a genius to know this.
So now Obama wants to tax the hell out of the so-called "fat cats," you know, the ones who EMPLOY people, and because of that the layoffs and outsourcing will continue. Brilliant, prez. Oh, did I mention the cap and trade agreement that will DOUBLE our energy costs?
But about Norma Rae, which I just got through watching...
The management of this textile mill was inhuman in that the employees were not given ear protection, or that a man saying his arm's gone numb was made to keep working till he dropped dead. This is what I thought unions were created for -- not so employees are treated "fairly," but treated humanely. That's 1979.
Fast-forward to 2009. Because of unions, Americans now feel ENTITLED to something they should count themselves lucky to have, like vacation days, profit-sharing, 401K, and yes, even health insurance is a benefit, not an entitlement. Our sense of entitlement is what's killing us, and by the way...where are the textile mills now? Norma Rae's sweatshop is in China now, thanks to unions with their constant and growing demands.
@scarlettbees: Americans have, on average, the fewest vacation days of any major developed nation - and we spend the greatest percentage of GDP on health care, with very poor health indicators to show for it. It's easy to blame rich executives for the woes of the poor and the middle class because they're all too often a bunch of greedy, overpaid incompetents.
Black holes are where God divided by zero.
With or without unions, the globalization of cheap labor has changed the game forever. If American unions are unwilling to stop acting as if we were still living in the 1980s, they would help their membership keep working in America. But they're not.
It's not greed that drives the outsourcing decision, though there are doubtlessly greedy people at the top. There may be greedy shareholders, too, but it's THEIR money they've invested, and they can pull it out tomorrow. They have to be kept happy. A company's ability to compete on the prices it can charge to the public is often a matter of a corporation's survival.The company with lower labor costs can sell its product for less.
How many foreign-made things do we own? How many times did we choose to buy something on the basis of its price?
Don will fix it. He knows what that nut means to Utz and what Utz means to us.