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Fire Department Compensation Far Higher than Private Sector's: Study
Where were you, where were the business leaders, where was the SDUT in 96 when Susan wanted the RNC to further her own political goals, and Jack cooked the books the books for her. The City's been lying to the taxpayers since 1982. By 2003 the die was cast and rights vested. There is an interesting piece in the SDUT Dialog section today...a sort of point / counterpoint on all of it. . http://www.signonsandiego.com/news/2011/apr/24/po… .— April 24, 2011 4:31 p.m.
Fire Department Compensation Far Higher than Private Sector's: Study
Interesting but a convenient point Visduh... It's all how the "work" is valued. For example, while many do not value the work done by our so-called "wastewater" employee. You couldn't get me to work in feces and who knows what is flushed down the toilet fixing the city's sewers, or crawling to confined spaces where methane gases were just evacuated. My point is until the Great Ressession of 2008-11 few if any were concerned about the wages and benefits of public employees. When the crash happened overnight the media latched onto this story and public employees, the ones cleaning your sewers, patrolling your streets, performing CPR, rescuing you from the rip current, you know, serving for the public good became the evil greedy masters of the universe bent on destroying all who stood it's way. Why? Nothing changed for them. They still did the work and were paid the same wage, or in some cases less. Oh, that's right private sector working class folks got hammered. Wall Street nearly collapsed the entire world economy. Businesses started tightening their belts. People started losing their jobs and vicious cycle got worse. But not as much to "public servants". Then the fact their pensions were vested rights by many settled cases, you got even more upset. And finally, the straw the broke the camels back, you got your 401K statement. BTW 401Ks were NEVER intended to be a middle class wage earner retirement plan. They were intended to shelter income for high wager earner from taxes. Deferring the tax to a later date after leaving the workforce. But with millions of potential accounts and billions of dollars of fees at stake, Wall Street and corporate greed, overcame good long term common sense. With no legislative or executive leadership from EITHER side of the aisle, we have the mess were in today. But those nasty useless public servants had constitutionally protected benefit. I believe Don said it when he wrote, "The smart public sector employees stayed put: they knew civil service protected their excessive compensation." Funny, it only became "excessive" when the private sector suffered slings and arrows of the worst of economic times since the Great Depression.— April 23, 2011 1:51 p.m.
Fire Department Compensation Far Higher than Private Sector's: Study
Reply to subcomment #2. The company was AMCC. Same symbol. Take a look at their historical stock price chart between 1999 and 2001. We the option held and exercised my friend made a few million dollars. Only an employee for two years prior to that bubble, but had a nice resume in the area of responsibility for that company. After the burst, got out and started consulting, making mid-six figures for several years.— April 23, 2011 7:52 a.m.
Fire Department Compensation Far Higher than Private Sector's: Study
Yes you're right about that... and with NO leadership from our President, or creative ideas from the Congress, we'll continue to see more and more "good jobs" outsourced to others. Manufacturing jobs are the best example, they're practically non existent in the USA. So what happened to them? Corporate America in pursuit of higher and higher profits for their executives and stockholders CHOSE them over America and stability. So over the last 50 years, just a blink of the corporate eye, we've gone from the land of plenty and prosperity, to the country of a few "haves" and the rest "have nots." If this trend continues unabated, Surfpuppy's prediction of 100% meltdown is not that far off in the future.— April 23, 2011 7:34 a.m.
Fire Department Compensation Far Higher than Private Sector's: Study
"That is how I view it and I am not outside the mainstream." ------------------------------------------ I can't stop laughing at the last phase of that statement. Especially if you put it into the context of the last two periods of extended prosperity. When private sector business were growing exponentially, public sector pay and benefits were of NO concern whatsoever. In fact, public sector were repeatedly told of the riches they would earn if they just moved into the private sector. And, to be fair, some did, especially during the real estate bubble where flipping houses was done faster than a able bodied pancake chef at IHOP.— April 22, 2011 12:47 p.m.
Fire Department Compensation Far Higher than Private Sector's: Study
"All in favor of parity, raise your hand." Dam right! Private sector employers have, and continue to, exploit middle income wage earner, or at least what use to be the middle class when I was growing up. Instead of trying to add to the DEMISE of America's middle class, why aren't more DEMANDING wages and benefits to support it and have it flourish. This has always bothered me...it's the attitude, if I've lost something you need to loose too so we're even. When it should be, I'm earning and contributing to this company, my compensation should be on par with them. If private sector employers had their way, you'd be working 80 hours a week at $10 an hour and no health care whatsoever.— April 22, 2011 10:45 a.m.
$1 Million Targeted for Homeless Will Be Diverted to L.A. Football Stadium
If it walks like a duck and talks like a duck.....it's another money grab by a billionaire businessman. With all the problems LA and SD have budgetarily how can anyone justify moves like this. (rhetorically speaking) Because it other people's money and those politicians who control it are rarely, if ever held accountable.— April 21, 2011 6 p.m.
Orange County Loses Fight against Deputy Sheriff Pensions
Actually I have two friends who represent both bubbles...One made several truckloads of cash during the housing boom flipping properties in Vegas and Henderson NV... The other a company officer in a SD Tech firm...in late 97 shares were trading in the 3 and 4 dollar range...but by Aug 2000 they were trading at over $400 a share... with her employee options she became an instant multi-millionaire...— April 15, 2011 10:58 p.m.
Orange County Loses Fight against Deputy Sheriff Pensions
Maybe...but we'd be making all new law. In the '94 Orange County bankruptcy, the largest municipal failure ever at that time, pensions were never touch. The same is true in the ongoing case in Vallejo, California. Pensions remained intact. And while Prichard, Alabama HAS defaulted on its pension payments. Its making changes to right the wrong. Prichard has been in and out of financial problems since the late 90's and declared bankruptcy in 2009. What happened to the case? The judge cited Alabama law and said the city did not meet the state threshold to file for bankruptcy. So no decision has been made regarding changes to pensions from the bankruptcy court.— April 15, 2011 4:38 p.m.
Orange County Loses Fight against Deputy Sheriff Pensions
Contracts are renegotiated all the time. The City just finished doing it for four of its six labor groups. I believe what you're referring to are vested benefits. Once the benefit vests with the employee it's protected by the California Constitution. with contracts. The only way to rid a vested benefit is to give another one of equal or better value. Laws giving this protection to public employees since politicians were responsible for their living. As I mentioned the initiative in the works by Governor Brown will correct what is perceived as abuses. Of course no thought these were abuses during the tech bubble or housing bubble when private sector workers were earning truckloads of compensation.— April 15, 2011 4:24 p.m.