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IAM Demands Proper Use of TARP Funds The IAM is urging Department of Treasury Secretary Timothy Geithner to set rules regarding the use of bailout dollars and how they are to be used by the banking industry. Among the latest series of reports regarding the widespread misuse of Troubled Asset Relief Program (TARP) funds are
Read moreIAM Welcomes Key Labor Board Appointments President Obama is moving swiftly to restructure key government agencies once dominated by anti-union appointees from the Bush Administration. Federal agencies like the National Mediation Board (NMB) and National Labor Relations Board (NLRB) play key roles in overseeing labor relations for millions of workers. At the National Mediation Board,
Read moreMachinists Call for Terminations at AIG The IAM today called for the immediate termination of every executive at American International Group, Inc. (AIG) who accepts a bonus payment. “Gross incompetence is but one of the grounds to void those contracts,” said IAM President Tom Buffenbarger. “These executives destroyed their company. They triggered a global economic meltdown. They misappropriated taxpayer monies. Their
Read moreHow a Bankruptcy Reveals Benefits of Membership It was hardly a surprise when Chicago-based Smurfit-Stone Container Corp. filed for Chapter 11 protection on January 26, 2009. Falling product demand, rising raw material prices and excessive debt combined with an industry-wide slowdown to trigger the bankruptcy filing. Smurfit-Stone is North America’s second largest maker of containerboard
Read moreEmployee Free Choice Act Introduced in Congress The Employee Free Choice Act took a big step toward becoming the law of the land today as Representative George Miller (D-CA) and Senator Tom Harkin (D-IA) introduced the legislation in the House and Senate. “American workers need help now and the Employee Free Choice Act is an
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