Something doesn't seem right about this. There is obviously much more to this. What did the union give up?
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Adding insult to injury, the losses were caused, not by expenses for traditional wireline local voice and DSL Internet services, but by the cross-subsidies of Verizon’s other new unregulated lines of business that dump expenses into the regulated state utility. Much of Verizon Wireless’s fiber wires to the cell towers, it appears, were paid for by local phone customer rate increases — which helped to make local service look ‘unprofitable’.
http://www.huffingtonpost.com/bruce-kushnick/exposing-one-of-the-large_b_8767256.html
So exactly how is the company writing off wireless work on wireline books? Did you become a forensic accounting specialist while you were walking the picket line? Accept the fact that wireline costs more to maintain and operate than wireless. It doesn't make wireline any less important.
"Definitely paying more for bennies. "
Agreed 1001%.
"Not sure about the pension cap. "
In truth, I don't believe that one really makes a difference. Unless one has 24-25 years right now, they are extremely unlikely to see 30 - let alone anything past that point - in this company.
"Hope retirees were taken care of."
A big concern on my part as well.
Anyway you look at this they went in with negotiating a 2 year contract now at a 4 year contract. Adding more union jobs to all of this too. I would say Verizon gave a threat in the LBFO when they tried to take something away if they sdidnt sign by a certain date. That falls under NOT negotiating in good faith which is subject to be charged. Also the whole accounting scandle of how they have been writing off wireless work on wireline books to make wireline less profitable and wireless more profitable. And I would also add this website is to blame. The company allowing employees to use this site during working hours and company computers to post hateful comments. Just think, when people pay their bills they are paying for service for their phones, computers and TV's not paying for employees to post hate on a website. The company allows this site to go on, then they allow the divide between employees to escalate which proves the anti union feelings that continue between the employees. By law the company has to acknowlege Unions and abide by the laws to protect workers. I am very proud that this has come to an end, and Thomas Perez concluded how important it is to bargin in good faith.
Definitely paying more for bennies. Not sure about the pension cap. Hope retirees were taken care of.
We gave up banging whale guys mom. That's all.
"There is obviously much more to this."
Obviously, but we'll just have to wait for the contract and see for ourselves.
"What did the union give up?"
How about "what did VZ give up on"?