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Under the Mountain Bunker

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twitter.com/charyl:

    In 30 years CEO pay grew 127 times faster than worker pay: do Americans want MORE inequality?
ThinkProgress: According to an analysis by the pay research group Equilar, compensation for top bank CEOs grew by nearly 12 percent last year. The Financial Times noted that    these increases occurred “despite widespread falls in profits and share prices“ […] According to a different estimate by Bloomberg News, Wall Street CEO pay grew by 20 percent last year. At the same time, worker wages grew by only 2.1 percent. And inflation adjusted wages actually declined by 0.6 percent between March 2011 and March 2012. […] Over the last 30 years, CEO pay has increased 127 times faster than worker pay. 
That time frame for unequal growth in CEO / worker pay coincides with the time period that Mitt Romney and Bain Capital (and companies like theirs) began their siege on outsourcing (offshoring!) American jobs. That’s quite a coincidence, isn’t it?
What’s sad about these facts is that low-information voters are completely missing the point: according to a Pew poll, Americans currently give Romney an 8-point lead over Obama on who they trust to handle the economy better. Seriously.
Profit for a few at the expense of many — do these people understand they’re saying that’s exactly the kind of economy they approve of with Mitt Romney?

    In 30 years CEO pay grew 127 times faster than worker pay: do Americans want MORE inequality?

    ThinkProgress: According to an analysis by the pay research group Equilar, compensation for top bank CEOs grew by nearly 12 percent last year. The Financial Times noted that    these increases occurred “despite widespread falls in profits and share prices“ […] According to a different estimate by Bloomberg News, Wall Street CEO pay grew by 20 percent last year. At the same time, worker wages grew by only 2.1 percent. And inflation adjusted wages actually declined by 0.6 percent between March 2011 and March 2012. […] Over the last 30 years, CEO pay has increased 127 times faster than worker pay. 

    That time frame for unequal growth in CEO / worker pay coincides with the time period that Mitt Romney and Bain Capital (and companies like theirs) began their siege on outsourcing (offshoring!) American jobs. That’s quite a coincidence, isn’t it?

    What’s sad about these facts is that low-information voters are completely missing the point: according to a Pew poll, Americans currently give Romney an 8-point lead over Obama on who they trust to handle the economy better. Seriously.

    Profit for a few at the expense of many — do these people understand they’re saying that’s exactly the kind of economy they approve of with Mitt Romney?

    — 2 years ago
    #class war  #economy  #income redistribution  #news  #politics  #unemployment  #vote!  #war on the middle class  #american jobs  #American workers  #average workers  #bain capital  #ceo pay increased 127 times faster than worker pay  #CEOs  #income inequality  #jobs  #living wage  #Mitt Romney  #offshoring  #outsourcing  #pew poll  #President Obama  #profit for a few at the expense of many 
    Our current system is creating a country of a few million overlords and 300 million serfs →

    Henry Blodget at Business Insider reports that corporate profits are at an all time high, while wages are now at an all time low:

    1) Corporate profit margins just hit an all-time high. Companies are making more per dollar of sales than they ever have before. (And some people are still saying that companies are suffering from “too much regulation” and “too many taxes.” Maybe little companies are, but big ones certainly aren’t)

    2) Fewer Americans are working than at any time in the past three decades. One reason corporations are so profitable is that they don’t employ as many Americans as they used to.

    3) Wages as a percent of the economy are at an all-time low. This is both cause and effect. One reason companies are so profitable is that they’re paying employees less than they ever have as a share of GDP. And that, in turn, is one reason the economy is so weak: Those “wages” are other companies’ revenue.

    Blodget bottomlines it for us in a series of related charts: “Companies need to start sharing more of their revenue with their employees. Wages as a percent of the economy simply have to go up. Yes, this means corporate profit margins will drop. But they can drop a long, long way and still be “above average.” And this is our country we’re talking about. If corporations really are people, it’s time for them to start acting like people–and sharing their wealth.” 

    Not to mention all the unions that have been busted up by Republicans for the past 30-40 years. What Blodget says makes sense, of course, yet Tea Street, USA has been conditioned to think sharing downward isn’t fair, it’s Socialism (or one of those -isms), and Rush Limbaugh and Jesus wouldn’t approve. Psychologically it has something to do with supposedly “punishing” the successful (the wealthy will say) plus gay marriage and race wars… it’s all way too murky and complex to get into here.

    It is safe to say that the only “sharing” that the GOP and the one percent are interested in is bottom-up sharing: legislating more tax cuts to profitable corporations and the wealthiest citizens and paying for those tax cuts (and decreased government revenue) with austerity — by cutting programs and services that the rest of us use. Just look at the Ryan plan or the Romney budget.

    You really don’t think that the Koch Brothers, Foster Friess, Sheldon Adelson and all the other rich guys who were in Park City, Utah with Mitt last weekend are donating hundreds of millions of dollars to Romney Super PACs, just so they can turn around and ‘share’ profits with their workers, do you? Their political donations are a business investmentwhich they hope to recoup, with interest. They want even more, not less.

    questionall: Tom Toles on Mitt Romney

    — 2 years ago with 1 note
    #class war  #economy  #income redistribution  #news  #politics  #unemployment  #vote!  #war on the middle class  #American workers  #companies need to share profits  #companies need to share revenue  #consumers have no money to consume  #corporate profit at an all time high  #corporate profit at record high  #employment at all time low  #few americans are working  #hunger games  #income inequality  #LOL  #overlords  #plebians  #profit margins should drop  #proletarians  #serfs  #thunderdome  #union busting  #wages at an all time low  #workers 

    America before Bain Capital: Ampad in Marion, Indiana

    A powerful ad featuring Mike Earnest, a former employee of Ampad in Marion, Indiana, where he describes a cruel trick that was played on the employees shortly before all three shifts at the Marion plant were laid off en masse one day.

    Transcript via DailyKos:

    On Screen: Marion, Indiana

    Mike Earnest: Out of the blue one day, we were told to build a 30 foot stage. Gathered the guys, and we built that 30 foot stage, not knowing what it was for.

    On Screen: Mitt Romney and Bain Capital purchased the paper plant.

    Mike Earnest: Just days later, all three shifts were told to assemble in the warehouse.

    On Screen: The company was profitable, with three shifts working.

    Mike Earnest: A group of people walked out on that stage and told us the plant is now closed and all of you are fired. I looked both ways. I looked at the crowd and ah, we all just lost our jobs. We don’t have an income.

    On Screen: “there’s little question he made a forture from businesses he helped destroy.” — New York Post 2/19/11

    Mike Earnest: Mitt Romney made over a 100 million dollars by shutting down our plant and devestated our lives. Turns out that when we built that stage it was like building my own coffin, and it just made me sick.

    On Screen: If Mitt Romney wins, the middle class loses.

    It takes a special kind of cruelty to get people to build you a stage so you can use it to tell them that their life, as they’ve known it, is over. It’s like saying “Fuck you!” with a extra big flourish, like kicking them in the head, don’t you think?

    It’s almost like a not very funny prank. Oh, right…

    In May, the Obama campaign put out a 5-minute web video on Ampad. Shortly after, ABC News commented on what information Bain Capital left out of its many, subsequent Ampad defenses:

    [I]n 1999, Bain was actually the largest single shareholder of Ampad. In addition, as of 1999, three Bain executives were sat on Ampad’s board of directors. […] one of the big box retailers putting pressure on Ampad was a company Romney often holds up as a Bain success story — the office supply giant, Staples.

    In a 2008 Boston Globe article headlined, “As Bain slashed jobs, Romney stayed to side,” reporter Robert Gavn writes that Ampad “became squeezed between onerous debt that had financed acquisitions and falling prices for its office-supply products. Its biggest customers — including Staples — used their buying power and access toAsian suppliers to demand lower prices from Ampad.” The article also notes that Romney sat on the Staples board of directors during the period of Ampad’s slide into bankruptcy, which occurred in 2000.

    Take a profitable American company, take out numerous loans against it and pocket the money; now make it compete against low-wage Asian companies (that you may have an interest in) to supply other businesses you own — and fire the employees when it can’t compete; finally close down the company in bankruptcy (can’t compete, heavily in debt) and walk away with an overall profit for yourself.

    Romney knows “why jobs come and why they go,” and now, according to Mitt Romney’s and Bain Capital’s formula for success, so do we.

    — 2 years ago with 1 note
    #class war  #news  #politics  #unemployment  #vote!  #war on the middle class  #american jobs  #american pad and paper  #American workers  #ampad  #asian producers  #at the expense of many  #China  #corporate raiders  #India  #indiana  #jobs  #marion  #mike earnest  #Mitt Romney  #offshoring  #outsourcing  #Republicans  #robber barons  #staples  #vulture capitalists  #wealth for a few 
    When Romney’s Bain Capital created jobs outside the U.S. that could have been done here →

    Caroline Bankoff at Daily Intel discusses the recent Washington Post article about how Romney’s Bain Capital invested in companies that moved American jobs overseas: [The Romney] campaign has responded with a statement criticizing the article as “fundamentally flawed”:

    [The] story that does not differentiate between domestic outsourcing versus offshoring nor versus work done overseas to support U.S. exports.  Mitt Romney spent 25 years in the real world economy so he understands why jobs come and they go.

    However, as Politico notes, the statement does not address one of the article’s main points, which is that Bain was directly involved with companies that created jobs outside the United States that could have been done here. Meanwhile, the New York Times has a piece (also based on Securities and Exchange Commission filings) detailing a number of instances in which Bain made a profit off of taking over companies that eventually went bankrupt. While some of the companies profiled may have simply been “too troubled to rescue” (or brought down by larger economic or industry trends), there are examples like steel manufacturer GS Industries… Continue reading »

    Steel – YouTube – Kansas City’s GST Steel had been making steel rods for 105 years when Romney and his partners took control in 1993. They cut corners and extracted profit from the business at every turn, placing it deeply in debt. When the company eventually declared bankruptcy, workers not only lost their jobs but were denied their full pensions and health insurance, and the government was forced to step in and provide a bailout. Watch: 


    Romney economics (why jobs come and why they go): creating wealth for a few at the expense of many.

    — 2 years ago with 1 note
    #class war  #income redistribution  #news  #politics  #unemployment  #vote!  #war on the middle class  #american jobs  #American workers  #bain capital  #creating jobs overseas  #GS industries  #jobs that could have been done here  #kansas city  #Mitt Romney  #off-shoring  #outsourcing jobs  #plutocracy  #vulture capitalism  #washington post  #wealth for the few at the expense of many 
    Corporate Aristocracy: teaching the Serfs their place in American society →

    Here we have another story about ‘greedy’ labor unions and the American workers they represent:

    After posting record revenue of $60.1 billion and boosting CEO pay by 60 percent, Caterpillar demands concessions from workers

    Workers at an Illinois plant for the mega manufacturer Caterpillar have been on strike for a month after rejecting a concession-heavy contract proposed by the company. Yesterday, workers overwhelmingly rejected a second Caterpillar offer, by a vote of 504-116.  

    According to union officials, the contract “provided no raises, eliminated the defined benefits pension program, weakened seniority rights and required machinists to pay higher contributions for health care.” All of this, at a time when the company is making record profits. In fact, Fortune Magazine recently said the company is “crushing it” when it comes to profitability.

    At the same time that it is refusing to give its workers a fair raise, the company saw fit to increase its CEOs pay by 60 percent

    The annual compensation of Caterpillar Inc.’s chairman and chief executive rose 60 percent in 2011, as the company posted a record revenue of $60.1 billion. Douglas Oberhelman earned $16.9 million in 2011, a figure that includes salary, bonuses, stock and option awards and retirement plan contributions.

    […] The typical American worker would have to work 244 years in order to earn what the average CEO makes in just one year. Over the last 30 years, CEO pay has increased 127 times faster than worker pay.

    – Think Progress

    How dare ‘workers’ ask for living wages and benefits from a company to which they’ve contributed their labor and production? Remember it’s definitely not greed when corporate CEOs pocket all the profits for themselves — and so what if workers contributed towards that success — that’s just the way America works!

    More From the Inequality Speech That Was Too Hot for TED

    — 2 years ago with 40 notes
    #corporations are people  #class war  #income redistribution  #news  #politics  #unemployment  #vote!  #war on the middle class  #60% increase in CEO compensation  #American workers  #caterpillar  #CEOs  #compensation  #illinois  #labor unions  #middle-class  #on strike  #profits  #unions  #wage and benefits 
    Romney economics: when a fair wage for American workers is considered ‘greed’ →

    Fox News and Mitt Romney, as representatives for the one percent, rely on the Republican base voters to be not only dumb and uninformed, but self-hating as well. How else do you explain support (by people who aren’t wealthy) for the idea that fair wages and benefits for working Americans is “greed”? This morning, Ed Gillespie, an adviser to Mitt Romney, told Fox News host Chris Wallace that Scott Walker winning in Wisconsin would mean:

    “I think the statement to big labor and to big government employee unions, government worker unions is that you can’t be too greedy,” Gillespie explained. “You need to understand that times are tough and a lot of these legacy costs that you imposed are due for some reforms and some restructuring.”

    It’s interesting that Romney’s adviser calls it ‘greed’ when unions and workers want to preserve their wages and benefits. Especially when you consider the tactics ofvulture capitalism, practiced by Mitt Romney during his time at Bain Capital, on long-term employees of companies acquired by Bain (fire them, hire some back at lower wages). Support for this kind of thinking will turn us into a third-world economy yet. Here’s proof: the WSJ reported this week that flat wages in the US are helping a manufacturing rebound:

    The wage lag is a key factor contributing to the rebounding competitiveness of U.S. industry. A recent uptick in factory employment and the return of some production to U.S. shores from abroad both added jobs that probably otherwise wouldn’t exist. But sluggish wages also are squeezing workers’ incomes and spending. That, in turn, hurts retailers who target middle-income earners and restrains the vigor of the economic recovery. “The U.S. has held manufacturing wages in check while there has been strong wage growth in China and moderate wage growth in Mexico,” says economist Gordon Hanson of the University of California, San Diego, referring to two of the U.S.’s biggest lower-wage competitors.

    China and Mexico’s wages are growing while U.S. wages are shrinking. Apparently that’s the only way corporations who got rich on American soil are willing to bring jobs back to American soil. Soon everyone will have a job, if they’re not too “greedy” and are willing to work for $1.00 a day.

    Oh, and of course this is not greed.

    — 2 years ago with 32 notes
    #class war  #income redistribution  #news  #politics  #unemployment  #vote!  #war on the middle class  #American workers  #ampad  #bain capital  #chris wallace  #ed gillespie  #Fox News  #greed  #Mitt Romney  #one percent  #organized labor  #plutocracy  #Republicans  #scott walker  #unions  #vulture capitalism  #wisconsin 
    Wage theft complaints increased 400% in the last decade — According to CNN Money, “More than 7,000 collective actions were filed in federal court in 2011 alleging wage and hour violations under the Fair Labor Standards Act, an approximately400% increase since 2000.” A 2009 report showed that more than two-thirds of low-income employees had experienced a wage law violation in the previous week alone, prompting Mother Jones’ Kevin Drum to ask, “How many reports of mistreatment do we have to get before we finally figure out that labor violations are rampant in this country?” As the Huffington Post’s Alexander Eichler noted, the weak economy has “reduced the amount of leverage employees have in their relationship with their managers — meaning it’s been especially easy in recent years for bosses to demand ever more of workers while paying them the same amount as before.” – Think Progress

    Wage theft complaints increased 400% in the last decade — According to CNN Money, “More than 7,000 collective actions were filed in federal court in 2011 alleging wage and hour violations under the Fair Labor Standards Act, an approximately400% increase since 2000.” A 2009 report showed that more than two-thirds of low-income employees had experienced a wage law violation in the previous week alone, prompting Mother Jones’ Kevin Drum to ask, “How many reports of mistreatment do we have to get before we finally figure out that labor violations are rampant in this country?” As the Huffington Post’s Alexander Eichler noted, the weak economy has “reduced the amount of leverage employees have in their relationship with their managers — meaning it’s been especially easy in recent years for bosses to demand ever more of workers while paying them the same amount as before.” – Think Progress

    — 2 years ago with 2 notes
    #news  #politics  #wage theft  #low income  #employees  #labor violations  #mistreatment  #workers  #american workers  #fair labor standards  #democrats  #republicans 
    …
Why is this recovery different from all other recoveries? Because American workers have lost all their bargaining power… There have been two fundamental alterations in the U.S. economy since Ronald Reagan was president, however. First, American multinational corporations now locate much of their production abroad. Second, with the rate of private-sector unionization down to a microscopic 6.9 percent, workers have no power to bargain for higher pay. Employers can serenely blow them off — and judging by the data, that’s exactly what employers are doing. This recovery differs from its predecessors because it is concentrated among the affluent, and almost entirely among the very rich. Until we address the imbalance of power in the U.S. economy, and until Americans regain the clout that their parents and grandparents had to compel employers to share their revenue more equitably, the difference between our recoveries and our recessions will grow harder to discern. [Washington Post]

    Why is this recovery different from all other recoveries? Because American workers have lost all their bargaining power… There have been two fundamental alterations in the U.S. economy since Ronald Reagan was president, however. First, American multinational corporations now locate much of their production abroad. Second, with the rate of private-sector unionization down to a microscopic 6.9 percent, workers have no power to bargain for higher pay. Employers can serenely blow them off — and judging by the data, that’s exactly what employers are doing. This recovery differs from its predecessors because it is concentrated among the affluent, and almost entirely among the very rich. Until we address the imbalance of power in the U.S. economy, and until Americans regain the clout that their parents and grandparents had to compel employers to share their revenue more equitably, the difference between our recoveries and our recessions will grow harder to discern. [Washington Post]

    — 2 years ago with 4 notes
    #news  #politics  #american workers  #income redistribution  #class war  #the recovery  #unionization  #labor unions  #no bargaining power 
    …
AFL-CIO calls for birth control access, immigration reform and overturning Citizens United 
Broad statements on Fixing What is Wrong with Our Economy and Organizing and Growth sketch out a vision for the economy and for unions. To “fix what is wrong with our economy,” What we need now is an economic program as serious and far-reaching as the problem President Obama has correctly diagnosed. We must start by shifting the focus of U.S. economic policy from one of maximizing the competitiveness and profitability of corporations that happen to maintain headquarters somewhere on U.S. territory to one of maximizing the competitiveness and prosperity of the human beings who live and work in America. The AFL-CIO proposes massive “productive public investment” in education, energy, transportation, manufacturing, infrastructure and more, all paid for by letting the Bush tax cuts expire and imposing new or increased taxes on capital gains, financial speculation and income greater than $1 million. Related, we have to rein in the financial sector and expand and support manufacturing. Additionally, “it is essential that we tackle the problems of wage stagnation and economic inequality,” by increasing and indexing the minimum wage and reforming labor law, among other things.

    AFL-CIO calls for birth control access, immigration reform and overturning Citizens United 

    Broad statements on Fixing What is Wrong with Our Economy and Organizing and Growth sketch out a vision for the economy and for unions. To “fix what is wrong with our economy,” What we need now is an economic program as serious and far-reaching as the problem President Obama has correctly diagnosed. We must start by shifting the focus of U.S. economic policy from one of maximizing the competitiveness and profitability of corporations that happen to maintain headquarters somewhere on U.S. territory to one of maximizing the competitiveness and prosperity of the human beings who live and work in America. The AFL-CIO proposes massive “productive public investment” in education, energy, transportation, manufacturing, infrastructure and more, all paid for by letting the Bush tax cuts expire and imposing new or increased taxes on capital gains, financial speculation and income greater than $1 million. Related, we have to rein in the financial sector and expand and support manufacturing. Additionally, “it is essential that we tackle the problems of wage stagnation and economic inequality,” by increasing and indexing the minimum wage and reforming labor law, among other things.

    — 2 years ago with 6 notes
    #news  #politics  #AFL-CIO  #labor unions  #unions  #organized labor  #american workers  #corporations  #wage stagnation  #economic inequality 

    Visit msnbc.com for breaking news, world news, and news about the economy

    Melissa Harris-Perry: When union workers do well, ALL workers do better - I don’t know that the native son of Michigan can look past his own privileged upbringing to see that what he advocates is bringing all Americans down.

    (Source: underthemountainbunker.com)

    — 2 years ago with 4 notes
    #news  #politics  #unions  #union labor  #american workers  #all workers benefit from unions  #when unions do well - all workers do well  #plutocracy  #class war  #mitt romney 
    "The panel got a little more honest as it wore on. Both Gerard Malanga from the Manhattan Institute and Kevin Mooney from the Pelican Institute for Public Policy went on at length about how the movement to roll back union rights was less about the economy than about demolishing organized labor as a political force. They cited a number of polls in which union members were dissatisfied with what their unions were doing for them. They mentioned, at length, how far behind the now truncated benefit packages of public sector workers the benefits offered to private sector union workers are. (This, of course, has a lot to do with the rolling back of unions that started under Saint Reagan in 1979, and because a lot of private-sector pension funds have been looted by succeeding generations of Wall Street sharpies, all of which got blamed at the ground level on the unions who were under assault.) To sow division between private-sector and public-sector unions is a nifty way to demolish the political effectiveness of both of them."
    — 2 years ago
    #american workers  #cpac  #labor unions  #news  #politics  #sow division  #the republican strategy  #union workers  #class war  #war on the middle class  #income redistribution 
    "Karl Rove, Mitt Romney and the rest of the assholes in the Republican Party could learn something from the phrase, “Imported from Detroit,” don’t you think? Yes, the auto bailouts worked. You want to make the life or death of the American manufacturing industry about politics? Please do. Go for it. There are many of us who are fully aware of which side you’ve been on for the past three decades…"
    — 2 years ago with 8 notes
    #news  #politics  #vote!  #war on the middle class  #class war  #income redistribution  #advertisement  #american industry  #American workers  #chicago-style politics  #Chrysler  #clint eastwood  #failure  #Fox News  #George W Bush  #GOP  #halftime in america  #imported from detroit  #karl rove  #Mitt Romney  #President Obama  #Republicans  #rove was offended  #success  #turd blossom  #U.S. labor  #us manufacturing 
    @liberalchik
~

“Oh, I’m sorry — did I say rich? I meant “job creators“…  when did the business community become so sensitive that we have to  treat them like some kind of rare, exotic animal? Don’t startle them or  they’ll fly away! We need to soothe them so they can nest here and lay  their magic eggs full of jobs, WHICH NEVER HATCH, by the way.” — Bill Maher

We can all agree that they’ve banked enough tax cuts in the past  decade to create many, many jobs. Hilarious how the GOP is trying to  convince us that the wealthy are now ‘job creators’ and we shouldn’t raise taxes on the job creators.
We shouldn’t have to bribe the rich with tax cuts to create jobs. If  businesses and corporations had lots of customers (you know, people with  good, steady jobs and a little extra cash), there would be plenty of  jobs and a thriving economy. Isn’t it weird how things slow down when  the wealthy bank all their extra cash, ship American jobs overseas, and  either stagnate everyone wages or bust unions so they can pay minimum  wage with no benefits?  You’d think there was some kind of cause and  effect going on here.
The GOP would like us all to believe the wealthy might create jobs. Maybe. Someday.

    @liberalchik

    ~

    “Oh, I’m sorry — did I say rich? I meant “job creators“… when did the business community become so sensitive that we have to treat them like some kind of rare, exotic animal? Don’t startle them or they’ll fly away! We need to soothe them so they can nest here and lay their magic eggs full of jobs, WHICH NEVER HATCH, by the way.” — Bill Maher

    We can all agree that they’ve banked enough tax cuts in the past decade to create many, many jobs. Hilarious how the GOP is trying to convince us that the wealthy are now ‘job creators’ and we shouldn’t raise taxes on the job creators.

    We shouldn’t have to bribe the rich with tax cuts to create jobs. If businesses and corporations had lots of customers (you know, people with good, steady jobs and a little extra cash), there would be plenty of jobs and a thriving economy. Isn’t it weird how things slow down when the wealthy bank all their extra cash, ship American jobs overseas, and either stagnate everyone wages or bust unions so they can pay minimum wage with no benefits?  You’d think there was some kind of cause and effect going on here.

    The GOP would like us all to believe the wealthy might create jobs. Maybe. Someday.

    — 3 years ago with 16 notes
    #class war  #income redistribution  #politics  #war on the middle class  #American workers  #Bush tax cuts  #job creators  #John Boehner  #middle-class  #minimum wage  #ship american jobs overseas  #tax cuts for the rich  #the wealthy  #wage repression  #wage stagnation  #working class 
    “The U.S. fabrication industry could [not] put a project like this together.” Right… ANYMORE! →

    Or ever again…? Gah!

    Depressing post from Balloon Juice:

    The new Oakland Bay bridge is being pre-fabricated in China by workers earning $12 for a 16-hour day, working at times 7 days a week:

    “I don’t think the U.S. fabrication industry could put a project like this together,” Brian A. Petersen, project director for the American Bridge/Fluor Enterprises joint venture, said in a telephone interview. “Most U.S. companies don’t have these types of warehouses, equipment or the cash flow. The Chinese load the ships, and it’s their ships that deliver to our piers.”

    He’s absolutely right: As long as government—which, after all, builds all the bridges—can outsource major projects like this to the lowest-bidding, most exploitative employer in the entire world, we’re not going to have an local industry able to build new bridges. Such is the monumental, self-serving stupidity of our Galtian/governmental confluence.

    Thanks, state government ‘patriots.’

    From the comments of that post: MikeBoyScout – June 26, 2011 | 10:13 am · Link

    Ambridge, Pennsylvania where today about 16.4% of families and 17.8% of the population were below the poverty line.

    American Bridge attracted thousands of immigrants who came to fulfill their dreams of work, freedom, and peace. The steel mills became the focal point of the town. Most of the employees were relatives of relatives and the small town grew, with wards separating the town into ethnic sections.

    With the growth of the steel mills, Ambridge became a worldwide leader in steel production.[citation needed] The borough became known for bridge building, metal molding, and the manufacture of tubes (large iron pipes). During World War II, the American Bridge Company fabricated steel for the building of LSTs (Landing Ship Tanks). The steel was then sent by rail to the adjacent American Bridge naval shipyard in Leetsdale, PA where the LSTs were built. The area was also home to several other steel mills like Armco, the pipe mill which manufactured oil piping, and A.M. Byers, a major iron and tool fabricator. Eventually competition by foreign steel producers began to cause the share of the steel market for U.S. manufacturers to dwindle. With the shift of steel production overseas, the Ambridge Bridge Company ended operations in Ambridge in 1983. The legacy of American Bridge can be seen today from coast to coast, from the Golden Gate Bridge in San Francisco to the Brooklyn Bridge in New York.

    But wait. Michele Bachmann has a solution!

    You see? Americans, too, could proudly earn $12 a day for 16-hour workdays!

    I’ll say it again: Watch The Company Men. The ending of this movie is really going to be the only solution for America.

    — 3 years ago with 4 notes
    #news  #politics  #class war  #economy  #FAIL  #income redistribution  #war on the middle class and tagged $12 a day for 16-hour workdays  #1983  #ambridge PA  #american bridge  #American workers  #China  #jobs  #labor  #made in china  #Michele Bachmann  #oakland bay bridge  #pennsylvania  #pre-fabricated in china  #steel mills  #take away minimum wage  #the company men  #U.S. fabrication industry  #unemployment  #unions