Posted by Pat Cunningham on May 14, 2012 in Uncategorized | 7 comments
This video, which was released this morning, puts the lie to the Republican argument that the Obama campaign doesn’t want to talk about the economy and jobs.
Here’s a shorter version, better suited for use as a TV ad:
Profits over people my friend.
Profits should come over people. That allows businesses to thrive and grow.
In the case of GST Steel, they put people over profits. Namely, the unions and overinflated benefits and salaries, coupled with the production of cheaper steel and the general collapse of the steel industry itself, is what drove GST out of business. It had absolutely nothing to do with Bain Capital.
Of course, Bain isn’t exactly sin-free in the matter, for they felt zero ill-effects from the closure of the plant. Details here:
On the other hand, the Romney campaign has now shot back with the success of Steel Dynamics with this video:
Why is Steel Dynamics continuing to succeed while GST steel failed?
Steel Dynamics is 89% non-union.
So you can either have a union job with excessive rules and regulations set up from the union overlords and watch your company slowly bite the dust. Or you can live the American dream and enjoy a prosperous career in a non-union facility and have a much greater chance at long-term employment. The choice is clear.
Unions destroy jobs and hurt the economy.
Compare the ratio of CEO compensation to the average worker in the US to other leading industrial countries and you will easily see the greed that permeates our economy.
How about the ratio of elected official pay to public union employee?
Besides if the downtrodden employees are so upset about the CEO pay, they should quit and find a new job at a commune or something.
Even better, if the CEO’s bosses (the corporate board and shareholders) are so upset they could fire the CEO and hire a cheaper person to lead the company.
So it’s alright when the government screws all those that we at GM including bond holders and non union workers and all those dealerships that were forced to close. And all with tax payer money.
Bain was one of eight investors in the Steel Dynamics plant which also benefited from $37 million in grants and subsidies from the State of Indiana and DeKalb County. There was also a county tax increase to help with infrastructure. Hardly a case for Willard’s free market enterprise.
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