Now
Available!
Dime's
Worth of Difference:
Beyond the
Lesser of Two Evils
Order Here!
Today's
Stories
September 6,
2004
Kathleen and
Bill Christison
Dual
Loyalties: the Bush Necons and Israel
September 4-5,
2004
Alexander Cockburn
Elephants
and Gramsci
Ted Honderich
The
Way Things Are
Sasan Fayazmanesh
The
Holy Empire: Who We Are and What We Do
Douglas Valentine
What the World Should Know About Guantanamo
Patrick Cockburn
New Iraqi Police State Flexes Its Muscles
Gary Leupp
Neo Cons Under Fire
Fred Gardner
Pot Shots: the Hempstead T-Shirt
William A.
Cook
The
Day of the Lemming
Dave Zirin
Kobe Bryant and the Price of Freedom
John Chuckman
The Day the World Ended
Karyn Strickler
God Save the Endangered Species Act
Vanessa Jones
Bad Day with an Ikea Cup
Mike Whitney
Kerry: the "Better" War Candidate
Mark Donham
Dear John (Kerry): Start Explaining and Fast
Mickey Z.
McBypass Nation: Feeling Clinton's Pain
Alan Farago
Can the Everglades be Fixed?
Poets' Basement
Landau and Albert
September 3,
2004
Jeffrey St.
Clair
High
Plains Grifter: Jesus Told Him Where to Bomb
Rahul Mahajan
Bush's RNC Speech: an Annotated Response
Carl Estabrook
The
Book of Slaughter and Forgetting
Joshua Frank
The Florida of the Northwest: Oregon Dems Sabotage Nader Again
Gary Leupp
Music to My Ears: Sunday's March
James Hollander
Deja Vu in Manhattan: Assisted Political Suicide?
Mark Engler
Republicans
Among Us: a Week at the RNC, Inside and Out
Jesse Sharkey
Making Students and Teachers Pay for the Crisis in Education
Jane Stillwater
Calling the Cops on Your Own Kid
Stephen Green
Serving
Two Flags: the Bush Neo-Cons and Israel
Sex,
Drugs & the Blues!
Serpents in the Garden
CounterPunch's
Sizzling New Book on Culture and Sex is Now Available
Click here to purchase
September 2,
2004
Jeffrey St.
Clair
High
Plains Grifter: Part 3: More Pricks Than Kicks
Max Gimble
Et Tu, Menchu? Extrajudicial Killings and Clandestine Graves
in Guatemala
James Petras
President Chavez and the Referendum: Myths and Realities
Christopher
Brauchli
Bush and the Afghan Electoral Model: "If They Want to Vote
Twice, Let Them"
Todd Chretien & Jessie
Muldoon
Will the Democrats Expel Zell Miller?
Jack Random
Spite and Venom Day: the Turncoat and the Profiteer
Alan Maass
The Real Vietnam
Christa Allen
Contre Bush
Website of
the Day
[Redacted]
September 1,
2004
Alexander Cockburn
The
Stench of Doom
Kathleen and Bill Christison
Poor Larry Franklin
Dave Lindorff
Kerry's Litmus Test
Josh Frank
Protest in White: Not All of New York Rises Up
John L. Hess
Moles, Scoops and Flip Flops
Mike Whitney
Deconstructing Arnold
Jack Random
Kindergarten Night at the RNC
Andrew Wilson
War on the Pachyderms: Why Do Elephants Hate Us?
Jeffrey St.
Clair
High
Plains Grifter: Part Two: Mark His Words
August 31,
2004
Joseph Nevins
Escapism
and Global Apartheid: The Dominican Republic & the NYTs
Matt Vidal
Beyond
Bush's Rhetoric on the Economy
Neve Gordon
Kerry and the Middle East
Dave Lindorff
Bush
the Peace Candidate?
Mike Whitney
NPR Leads the Charge for War Against Iran
Jack Random
Opening Night: Playing the War Card
Jeffrey St.
Clair
High
Plains Grifter: the Life and Crimes of George W. Bush (Part One)
CounterPunch Photo of the Day
Pete Seeger in NYC
August 30,
2004
Justin Podhur
The
Disappeared Mayor
Shaun Joseph
The
Hypocrites at TheNaderbasher.com
Mike Whitney
Israeli Moles in the Pentagon: What More Could They Possibly
Want?
Ron Jacobs
Live, From New York: the Majority of Protesters Claimed No Candidate
David Lindorff
Sunday in Manhattan: the Sound of Marchin', Chargin' Feet, Boy
Dave Zirin
USA Basketball: The Team White America Loved to Hate
Sam Husseini
Israeli Spying on the US: a Long History
August 28 /
29, 2004
Alexander Cockburn
Zombies
for Kerry
Patrick Cockburn
Najaf Ceasefire Good for Iraq, But Weakens Allawi and US
Ray McGovern
Blowing Smoke on Intelligence
Dr. Juan Romagoza
From El Salvador to Abu Ghraib: Reflections of Torture Survivor
Ray Hanania
An Israeli Spy in the Pentagon? Ridiculous!
Fred Gardner
Eddie Lepp Busted by DEA: Facing Life for Growing Medical Pot
Diane Christian
Big Men: the Better Leader Lets You Live
William S. Lind
The Desert Fox
Paul D'Amato
The Left Takes a Dive for Kerry
Joshua Frank
Greens at the Crossroads
Mickey Z.
Media Declares War on Anti-War Protests
Winslow T. Wheeler
Sen. McCain's Pork Chops: an Exchange
Justin E.H.
Smith
The New Age Racket and the Left
Thomas St. John
Burning Slaves at the Stake: On "Sinners in the Hands of
an Angry God"
Ali Tonak
Help the NYPD?
Mark Engler
New York Says "No"
Justin Felux
Haiti: the Attica of the Americas
Poets' Basement
Gelman, Albert, Ford and Hamod
August 27,
2004
Gary Leupp
Neocon
Musings
Robin Cook
The
Ghosts of Abu Ghraib
Diane Christian
Disarming
Michael Donnelly
Situational Democracy: the Show Me the Green Party?
Jack Random
4F and Other Heroes: an Army of War Resisters
Mike Ferner
"To the Swift Boats!"
Mazin Qumsiyeh
7000 Palestinian Political Prisoners
Veronza Bowers, Jr.
"You Won't Be Leaving Tomorrow"
August 26,
2004
M. Shahid Alam
The
Clash Thesis: a Failing Ideology?
Diane Christian
War
Rules: Bush is No Sun Tzu
Derek Seidman
"They're As Bad As Wal-Mart:" Starbucks Workers Get
Organized
David Lindorff
Court to RNC Protesters: Drop the Rally
Christopher
Brauchli
Signs of Dissent: the Bush in the Bubble
Stew Albert
Reporting Suspicious Activity
Mark Donham
Judgement in Athens: Give the Koreans Their Day in Court
Saul Landau
Pinochet:
the Al Capone of the Southern Cone
Website of
the Day
The Kerry 527 Ad You'll Never See
August 25,
2004
Amelia Peltz
Can
I Have 9.8 Seconds of Your Time?
Noah Leavitt
Defining and Redefining Torture
Ron Jacobs
Takin' It to the Streets: It's Not About the Election, It's About
Democracy
James Brooks
Coronado Crosses the Jordan
Akiva Eldar
How to Win the Jewish Vote: Turn Gaza into a "Mini-Afghanistan"
Gemma Araneta
Chavez's New Brand of Populism
Philip Cryan
Uribe's Boys: the Death Squads of Colombia
CounterPunch Wire
Cheney Opens the Closet Door
August 24,
2004
Jeremy Scahill
John
Kerry: the Warchurian Candidate
Gary Leupp
"We
Want Them to Go Away"
David Domke
God
Willing: an Echoing Press and Political Fundamentalism
William Loren Katz
The Meaning of Hugo Chávez: Black and Indian Power in
Venezuela
Jonah Gindin
With Chavez? Reading the International Private Media
Fran Schor
Denying Atrocities: From Vietnam to Fallujah
Joe Bageant
Driving
on the Bones of God
Website of the Day
The Great America Lockdown: a Primer for the RNC
August 23,
2004
Winslow Wheeler
Don't
Mind If I Do: Porkbarrel and the War on Terror
John Pilger
Bush
May Be the Lesser Evil
Stan Goff
Swift
Boat Dogfight
Bill and Kathleen
Christison
Notes
from the West Bank: Build, Demolish, Rebuild
Mike Whitney
The Unraveling of Afghanistan
William Blum
Brave
New World of Iraqi Sovereignty
Ralph Nader
A Letter to the Washington Post: a Shameful and Unsavory Editorial
August 21 /
22, 2004
Cockburn /
St. Clair
"They
Want Blood:" The Bi-Partisan Origins of the Total War on
Drugs
Landau / Hassen
Failing
the Mission? Form a Commission
Brian Cloughley
The
Bush Team in Iraq: Moral Cowardice, as Practiced by Experts
Josh Frank
Nader as David Duke? The ADL Wants You to Think So
Mike Whitney
Reincarnating Mengele: the Torture Doctors of Abu Ghraib
Ron Jacobs
Day Labor Blues
Mickey Z.
Shooting at Whales: 40 Years After Tonkin
Fred Gardner
Dr. Wolman Comes Out: The Cannabis Consultants
Dave Zirin
Uprising in Athens: Iraqi Soccer Team Gives Bush the Boot
Josh Saxe
Witnessing Police Brutality in LA
Yanar Mohammed
Letter from Baghdad: a Democracy of Killings and Bombings
Helen Williams
Ali's Story: a Taste of Reality from Baghdad
Michael Donnelly
Elemental and NaturalForests, Fire and Recovery
Elizabeth Schulte
The Crisis in Affordable Housing
Poets' Basement
Adler, Albert, Virgil, Ford and Krieger
Hot Stories
Alexander Cockburn
Behold,
the Head of a Neo-Con!
Subcomandante
Marcos
The
Death Train of the WTO
Norman Finkelstein
Hitchens
as Model Apostate
Steve Niva
Israel's
Assassination Policy: the Trigger for Suicide Bombings?
Dardagan,
Slobodo and Williams
CounterPunch Exclusive:
20,000 Wounded Iraqi Civilians
Steve
J.B.
Prison Bitch
Sheldon
Rampton and John Stauber
True Lies: the Use of Propaganda
in the Iraq War
Wendell
Berry
Small Destructions Add Up
CounterPunch
Wire
WMD: Who Said What When
Cindy
Corrie
A Mother's Day Talk: the Daughter
I Can't Hear From
Gore Vidal
The
Erosion of the American Dream
Francis Boyle
Impeach
Bush: A Draft Resolution
Click
Here for More Stories.
|
Labor Day
September 6, 2004
What's Driving
the Attack on Pensions?
How
Kennedy and Kerry Screwed Labor
By
LEE SUSTAR
Corporate America is rushing to get
out of pension payments while the getting is good--before the
crisis in retirement benefits eases. And for organized labor,
the stakes on pensions are higher than ever. The news that United
Airlines is prepared to kill its $8.3 billion pension plan and
hand over the remains to the federal Pensions Benefits Guaranty
Corp. (PBGC) raised the possibility that other airlines would
follow suit.
United's proposal to dump the
pensions of 120,000 retirees comes despite a law passed by Congress
earlier this year that provided relief to underfunded plans--including
special breaks for the airlines as well as the steel industry,
which itself has seen companies eliminate pensions in recent
years.
In fact, the rise in the stock
market in recent months has significantly eased the crunch in
what are called "defined-benefit" pensions--regular
payments at a pre-set amount. According to Standard & Poor's,
the pension funding gap will drop from a high of $219 billion
in 2002 to $112 billion by the end of this year.
But that hasn't stopped big
businesses from reducing pensions--and in the steel and airline
industries, dumping them altogether. United--despite a recent
recovery in its business--is pushing hard to ditch the pensions
because, the company claims, it needs the cash to secure financing
to come out of bankruptcy.
If United's plan is terminated,
the assets used to fund will be taken over by the PBGC, which
insures pensions for 44 million Americans. However, the PBGC
caps benefits--and would cut United pensions for many United
workers by as much as 50 percent. (CEO Glenn's $4.5 million pension,
however, is exempt).
If the steel and airline industries
are the worst hit by the pension crisis, it's because both have
enormous capital investments built up over decades. Both industries
are under pressure from new competition and enormous overcapacity
built up during the boom years of the late 1990s.
In the case of the steel industry,
several bankrupt companies were able to rid themselves of pensions
with the help of the United Steelworkers of America, which agreed
to the moves to preserve jobs in the consolidation of the industry.
Now United threatens to bring the same tactic to the airline
industry.
As Business Week summarized
the view of one analyst, "Such a move would give UAL a huge
edge, thus compelling Delta and US Airways to do the same."
In the case of United, the unions have protested moves to get
rid of the pensions--but the overall pattern of accepting concessions
is the same.
United workers took a 20 percent
pay cut in 1994 in exchange for 55 percent stock ownership--shares
that are now practically worthless in United's bankruptcy. Then,
the unions took $2.5 billion in pay and benefit cuts in 2002--and
now the company wants even more cuts.
United's pension threat is
part of a game of chicken over who will bear the cost of restructuring
the airline industry--that is, the liquidation of one or more
traditional carriers. United, for example, extracted massive
concessions from its unions under pressure from the federal Airline
Transportation Stabilization Board (ATSB), which demands labor
concessions as a precondition for loan guarantees. Dominated
by free-market ideologues, however, the ATSB has twice refused
United's application.
Meanwhile, US Airways--which
last year terminated its pilots' pensions--is threatening to
file for bankruptcy again unless its unions accept more givebacks.
United too is using the threat of terminating bankruptcies to
extract even more out of the unions.
If the givebacks aren't forthcoming
United will force the PBGC--and taxpayers--to cover the cost.
The PBGC itself is in the red--paying out $3 billion in benefits
with only $1 billion in premiums--a situation made worse by the
pension law passed this year.
That law--sponsored by Sen.
Ted Kennedy (D-Mass.) and backed by John Kerry--let companies
reduce their premiums paid to the PBGC. This will only worsen
the PBGC shortfall--and prepare the ground politically for further
pension restructuring and harsh cuts.
For labor, the pension crisis
has once again proved that concessions only lead to more concessions.
The battle for a decent retirement, moreover, also includes the
millions who are covered by inadequate 401(k) or "cash balance"
programs and the inadequate Social Security benefits. If the
unions are going to take the lead in this fight in the future,
they must start by holding the line at United today.
Lee Sustar is a regular contributor to CounterPunch
and the Socialist Worker.
He can be reached at: lsustar@ameritech.net
Weekend
Edition Features for August 7 / 8, 2004
James Petras
The
Anatomy of "Terror Experts": Meet the Mandarins of
Abu Ghraib
Fred Gardner
Run
Ricky Run: Football, Pot and Pain
Justin Delacour
Anti-Chavez Pollsters Panic: Fix Numbers; Reinvent Venezuela
Brian Cloughley
Persecuted by All; Supported by None: Who Would Be A Kurd?
Joshua Frank
The
Outsider: a Talk with Ralph Nader
Iain A. Boal
On "Shame": Warmed-Over Orientalism and Racist Projection
Chris Floyd
All About Eve: Open Season on Women in DC and Rome
Andrew Fenton
Fighting for Democracy and Justice in Haiti
Aseem Shrivastava
Saga of an Anguished Afghan
Neil Corbett
See Cuba: Sometimes a Cigar is Just a Cigar, Mr. Bush
Carol Miller
/ Forrest Hill
Rigged Convention; Divided Party: How David Cobb Won with Only
12% of the Vote
Tarek Milleron
Breaking the Principled Voter
Donald Macintyre
The
Battle of Najaf
Ron Jacobs
Spirits of The Dead: Why I Love My Petty Bourgeois Tendencies
Mickey Z.
Kid
Gavilan's Grave: Propaganda Scores a TKO
Poets' Basement
Adler, Ford and Albert
Keep
CounterPunch Alive:
Make
a Tax-Deductible Donation Today Online!
home
/ subscribe
/ about us / books
/ archives / search
/ links /
|