I worked as a bank examiner for the FDIC in the early 90s. Banks by government regulations are very limited in what securities they can invest in. A bank’s main asset class is their loan portfolio. When the bank undergoes its regular examinations by the FDIC, Federal Reserve, Office of the Comptroller of the Currency (nationally chartered banks) and/or state regulators (state regulated banks) the examiners go in and review the largest dollar amount loans one by one. That is the main part of the asset review for the “safety and soundness“ exams. The next major asset category is the security portfolios. Security investments that a bank are allowed to invest in are very limited. They are allowed to invest in US Treasury securities, Ginnie Mae, Freddie Mac, Fannie Mae and bonds of municipalities. Florida state chartered banks were allowed to invest in the debts of the state of Israel. Pretty much every other type of security was illegal for the bank to invest in. So if the bank wanted to buy corporate securities of companies like Microsoft and Apple that was illegal. So during the exam the bank examiners have to grade the loans and securities as safe or not (Special Mention, Substandard, Doubtful or Loss). U.S. Treasury securities are backed with the guarantee of the full faith and credit of the United States so they were automatically graded as safe. The same went for Ginnie Mae securities, full faith and credit. On the other hand Freddie Mac and Fannie Mae were not explicitly guaranteed by the full faith and credit of the United States. However it was implicitly assumed that the federal government would also back up any failed Freddie Mac and Fannie Mae securities so they got automatically graded as safe by the examiners so banks were motivated to invest in them. Well as it was shown in 2008 the assets making up Freddie Mac and Fannie Mae were actually junk. So basically government regulators were basically going into banks and motivating them to invest in junk assets.
In 2008, those corps should've just gone bankrupt instead of receiving bailouts, as the market had already decided their fate. Likewise, an employer shouldn't be legally obligated to hire unionized workers. This stuff breeds corruption.
There are some very savvy shareholders on the board who are financially interested in the CEO not being overpaid, like any other employee. Even small shareholders get votes too.
Perhaps they want to be able to work any job role given, not be limited by someone senior getting that job role. I would assume since we are talking about an open shop, Apple retail employees do not have to join the union if they don't want to.
On your engineer statement, Apple actually pays less (including bonuses) then other companies do for quality software engineers. They’re basically what makes everything tick these days. From every website and service you use, to your appliances and vehicles. Anything less than $100/hour for a quality senior software engineer is insulting. That’s why the FAANG companies pay what they do. Since Netflix doesn’t give stock (at least they didn’t) they’re straight salary. Which is why some of their devs make $400k/year.
www.pbs.org
That was definitely not an option at the two contractors I worked for that worked for Apple. There was no contact with Apple whatsoever (although I have a suspicion some of our training might have been from Apple employees—the materials definitely were—but I don't know for sure). At one of the two companies I worked with, you could go up the ranks within the company (which in reality was $1 more an hour for becoming a supervisor—sounded awful) but definitely not crossover to Apple.
Remember the lawsuit against Apple checking peoples bags for a half an hour after shift without pay
Denmark. The employer organisation complained (of course) though about the high salaries. Key here is that salary is one parameter of many to be competitive.
So I googled around, the guy who made that much wasnt just a random lifeguard, he's the captain, the second ranking guy in the structure, and mostly a manager. He's more like the COO of a small corp that staffs beaches, does that help you make more sense of that?
Apple Store employees in Maryland have made history by voting to officially unionize, becoming the first Apple retail location to do so in the U.S. after efforts by Apple to calm down unionization efforts.
As reported by CNBC, employees at the Apple Store in Towson, Maryland voted 65 for and 33 against a call to join the Machinists Union. 110 employees were eligible to vote Wednesday through Saturday evening. The employees are hopeful the new move will encourage Apple to provide better pay and working condition, both of which the company has already pledged to do.
As noted by CNBC, the National Labor Relations Board still needs to verify the votes before Apple must begin negotiations with the union.
In a video shared in May, Apple's head of retail and people, Deirdre O'Brien, said that employees have a "right to join a union" but added that it's also employees right to "not join a union." "We have a relationship that is based on an open and collaborative and direct engagement, which I feel could fundamentally change if a store is represented by a union under a collective bargaining agreement," O'Brien added.
Article Link: Apple Store in Maryland Makes History by Voting to Unionize
That’s easy to argue for them. They literally have negotiated a great salary, why are you complaining Ofer a great deal?I'm interested to know how you come to that conclusion.
How do you know that if you weren't in a union that your wages might not have been equal, or say 5k less which would actually be a break even for you.
As best I can tell most unions collect between 1-2%:
Union dues explained
Dues are a regular payment from members that fund their union. They finance crucial union operations like contract negotiations and enforcement, organizing, and member-driven programs. It's one of the most common questions about unionizing so let's break down the basics.guide.unitworkers.com
At 2% dues that would put you at >$250k/yr, at 1% dues >$500k/yr, at 4% >125k/yr, if true needing a union to negotiate for you is fairly sad.
If you really make that then I assume you have specific education/skills. I would think you could do much better on your own.
Unless you are these guys:
Los Angeles Lifeguard Made $392,000 in 2020 Thanks To Public Sector Union Policies
Seven lifeguards in Los Angeles made more than $300,000 a year including benefits, and 82 made more than $200,000, government watchdog group OpenTheBooks found.The top-paid lifeguard made $392,000 in compensation in 2020, and 31 lifeguards made between $50,000 and $131,000 in just...www.dailywire.com
"Lifeguards can retire at age 55 and get 79% of their pay for life." - No wonder Cali is the mess that it is! You can retire and collect 79% of your pay for the next 40years or so?!?!?! All on the taxpayers dime and for being a "professional" lifeguard. WOW. No wonder California is bleeding population.
I challenge any of the pro-union folks to read that article and defend lifeguards making that much money, I'll wait.....
If you live in a state that is not right to work you are not still free to work without being a union member. People who voted to unionize are short sighted. They see an immediate benefit without recognizing the long-term consequences of it, fewer jobs and higher prices are only two of them.
