Corporate profits are
down, layoffs are way up—and CEOs still get huge paychecks,
bonuses and retirement perks. To see how you'd fare compared to these
CEOs, play GREED!
GREED is the AFL-CIO's
Executive PayWatch
Board Game that takes the PayWatch visitor through a story of what life
is like for a millionaire CEO and a worker struggling to make ends meet.
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Union Plus uses the collective strength of
union members to provide a wide range of services at discount prices,
from credit cards to home mortgages.
This month, Union Plus spotlights its
discount legal services program. For more information,
click here.
Get your legislator to sign a
pledge to
protect Social Security and Medicare
To find out how much you could lose from Bush's plan to privatize Social
Security, find out more information about the Bush plan and download
flyers to distribute at work,
click here
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Get Your Convention Gear
Check out gear for the
2004
IAM Convention
The IAM
Executive Council
International President
R.
Thomas Buffenbarger
Secretary Treasurer
Donald
E. Wharton
GVP Western
Territory
Lee
Pearson
GVP Canada
Dave
Ritchie
GVP Midwest
Territory
Alex
M. Bay
GVP Headquarters
Robert
V. Thayer
GVP Southern
Territory
George
Hooper
GVP Eastern
Territory
Warren
L. Mart
GVP Transportation
Robert
Roach, Jr.
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Tuesday,
July 16, 2002
Additional Funding Needed For Amtrak
On June
28, 2002 the Department of Transportation approved a $100 million loan
to Amtrak that temporarily averted a shutdown of the nation’s passenger
rail carrier. Even with the loan, Amtrak’s future is far from certain.
“The emergency $100
million loan only funds Amtrak’s service through August,” said General
Vice President Robert Roach, Jr. “Congressional support is needed to
provide the funding required to keep Amtrak operating into the future.”
Amtrak officials and
the Department of Transportation are jointly requesting a $170 million
appropriation from Congress to fund Amtrak to the end of its fiscal year
in September. Amtrak has said it needs an additional $1.2 billion to
continue operating into next year.
You can show your
support for Amtrak and urge proper funding of the rail carrier by
contacting Congress through the IAM’s Political Action web site at
www.goiam.org/politics.asp.
Reeling Investors Snub Bush Reassurance
As President Bush scrambled to reassure Americans about the health of
the nation's economy, investors staged a massive sell-off that accounted
for one of the biggest one-day swings in the market―the second time in
two weeks that stocks have tumbled after the President addressed the
issue. One week ago, the market lost nearly 200 points after a
presidential speech about corporate responsibility
Corporate accounting scandals, weakening economic signals, and
allegations about suspect business practices by President Bush and Vice
President Cheney have spooked investors.
"Cheerleading won't turn around the market," said New Jersey Senator Jon
Corzine―a former investment banker.
VP
Cheney Grilled on $18.5 Million Profit
Concerns about insider trading are dogging Vice President Cheney. The
former CEO of the Halliburton Co. walked away with an $18.5 million
profit from sales of company stock only weeks before its price went
south. Industry analysts wonder if Cheney didn't know about impending
problems at the company, or he did know and was jumping ship before it
sank. Either way, Cheney's record casts a shadow on Bush's call for
corporate responsibility.
Bush: "No" to Senior Prescription Plan
President Bush reiterated his opposition to helping seniors pay soaring
prescription drug costs through a Medicare-run prescription drug
benefit. In a July 10 speech in Minneapolis, Bush said a prescription
drug plan should be run by private insurers and HMOs. The
Republican-controlled House of Representatives passed a bill opposed by
most senior groups that would force seniors into HMO-style programs and
offers no guaranteed benefits.
Sen. Edward Kennedy (D-Mass.), chairman of the Senate Health, Education,
Labor and Pensions Committee, called the GOP vision of drug coverage
"cakes for the special interests and crumbs for the elderly." The Senate
will begin debate this week on a Medicare prescription drug bill that
offers even less coverage than the House bill.
Senior groups, unions and other backers of a real Medicare prescription
drug benefit will mount a grassroots campaign to spotlight the Senate
bill's failures and the need for strong Medicare prescription drug
coverage.
Deadline Near for
Newsletter, Website Contest
IAM editors and web stewards have a little more than two weeks to submit
their entries for this year's Newsletter & Website competition. Entries
must be postmarked by midnight July 31, 2002 to be considered for the
contest. Contest winners will receive their awards at the next IAM
Communications Conference.
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