Give the NY Times a Piece of Your Mind

The New York Times Magazine recently published an article by Matt Bai. In it, Bai calls the Winpisinger Center "the industrial economy's version of Jurassic Park.”

Bai described the school as vacant but failed to note that his visit took place during one of only two weeks each year that classes are not held. He commented on displays that commemorated events from 50 years ago but ignored exhibits that featured our members’ work in today’s aerospace, defense and other high-tech industries.

You can give the New York Times and Matt Bai a piece of your mind - let them know that they need to check their facts a little more carefully before they sneer at a school that many IAM members consider to be among the most valuable services this organization provides for its members.

Misleading the Nation on Social Security

In last night’s State of the Union address, President Bush opened his assault on Social Security, conjuring up an imminent “mushroom cloud” looming over future retirees. He claimed the system will be “exhausted and bankrupt” by 2042.

The President’s misleading statement is part of a carefully crafted marketing plan to scare Americans into accepting detrimental changes to a successful retirement system. The Social Security Trustees, which include members of Bush’s own cabinet, project the system can pay full benefits until 2042 and about 70% of benefits afterward, without making any changes. That’s hardly bankrupt.

The President’s proposals for private accounts will siphon trillions of dollars out of the system, making it weaker faster. Plus, they mask his plan to change the way benefits are calculated which will reduce future benefits by up to 46 percent, more than can be made up by private accounts.

“American workers have been hit hard by drops in 401(k) plans, while companies are trying every trick in the book to get out of traditional pension plans, and now the President wants to dismantle the strongest guarantee of a secure retirement left, Social Security,” said IAM President Tom Buffenbarger. “Private accounts are the Trojan horse the President will use to dismantle Social Security. We must not fall for it.”

So what really happens in 2018? The Social Security Trustees predict that is the year the amount of income generated by the payroll tax will be equal to benefits paid. But that is not a crisis. In the 1980’s, Congress anticipated the baby boomers’ retirement and increased the payroll tax so that Social Security would run a surplus. Known as the Social Security Trust Fund, the surplus is invested in U.S. Treasury bonds and had about $1.5 trillion in assets in 2003. It is projected to have about $5.3 trillion in 2018, when President Bush claims we start on the road to ruin.

After 2018, the Trust Fund’s assets will cover the shortfall until 2042, the year the fund will be used up. President Bush claims the system will be “exhausted and bankrupt” at that point.

Not so. “When the trust fund is exhausted, the Social Security system will not be ‘bankrupt,’” according to Jason Furman of the Center on Budget and Policy Priorities. “It will continue to collect both payroll taxes and the income taxes levied on a portion of Social Security benefits. With these revenues, it will be able to pay about 70% of benefits according to the Social Security Trustees…”

The Social Security system has some serious funding issues ahead, but it is nowhere near bankruptcy. The projected shortfall over the next 75 years is $3.7 trillion. President Bush is pushing Congress to make his tax cuts for the wealthy permanent, which will cost $11.6 trillion over the same period. Just modifying a few of those tax cuts could fully fund Social Security for generations.

2005 Pit Crew Competition Breaks Records

High School and college students raced the clock and turned in record times last week at the fifth annual Chi-Town Tear Down Pit Crew Competition held at the World of Wheels Custom Car Show in Chicago. Sixteen high schools and nine colleges took part in the competition sponsored by IAM Auto Mechanic Local 701 and Ford Motor Co.

The competition calls for student teams to tear down and reassemble a Ford V-6 dual overhead cam engine in the shortest time and with the fewest mistakes possible. Ford provided 30 engines in addition to two brand new Crown Victoria sedans to be raffled off among the participating schools.

“The thrill of watching these kids work as a team is what really drives us to run this competition,” said Local 701 Vice President Steve Tyeptanar, who noted the growing number of female students in the competition.

First place in the high school division went to the team from Hoffman High School, with a winning time of nine minutes and 55 seconds. Hoffman High beat out second place Juarez High School by just seven seconds. The first place trophy in the more complex college competition went to Lincoln Technical Institute with a time of 19 minutes and 29 seconds.

Watch the video: Superbowl of Technical Schools

New Contract Ends Strike in Canada

A 20-day strike at Protectolite in North Toronto, Ontario is over and it’s a clear victory for the 25 members of Local Lodge 901 who ratified a new three-year collective agreement with the fiberglass products manufacturer.

“This membership is to be congratulated for standing its ground on a picket line for twenty days in minus 30 degree temperatures,” said IAM Business Representative Paul Mitchell. “The members showed they would rather freeze than accept a low wage offer and co-payment concessions on healthcare benefits.”

The new deal calls for a wage increase of two per cent in each year of the agreement and the company dropped its demand for co-payment of dental and major medical benefits.

Workers were back on the job at the North Toronto facility this morning.

IAM Endorses Gov. Dean for DNC Chairman

The IAM declared its support this week for former Vermont Governor Howard Dean to become Chairman of the Democratic National Committee (DNC).

“We believe Governor Dean can provide a strong voice for working Americans and union members,” said IP Tom Buffenbarger, a longtime DNC member. “He has the experience needed to run a large organization and the proven ability to raise the money and generate the momentum needed to revitalize the Democratic Party.”

Dean has already secured the support of nearly half the delegates he needs (out of 447 total DNC delegates) in addition to endorsements from the United Auto Workers and the Amertican Federation of Teachers. DNC delegates will vote on Feb. 12 in Washington, D.C. to determine who succeeds current DNC Chairman Terry McAuliffe.

IAM, Comair Reach Tentative Agreement

District 142 announced a tentative agreement with Cincinnati-based Comair Delta Connection covering the carrier's Mechanic & Related employees. In addition to a wage hike, the five-year agreement boosts license and shift premiums and provides for improvements to sick leave accrual and part-time medical benefits. Comair also agreed to establish a major aircraft repair facility to bring additional work in house. More information can be found on the District 142 web site, www.iamdl142.org.

---

Past iMail | Your Email |www.goiam.org | Print Version