Thread regarding Verizon Communications Inc. layoffs

Enjoy the non COLA "raises"

Dear Union members,

You won some items that were important to you and that is great, but in other respects, you've been had. Pre negotiating a set %age raise for the comings years sounds great. Guaranteed raises, yay! BUT, you went back to work before it impacted the jobs report which saves face for the government and opens the door for the Federal Reserve to increase interest rates. Increased interest rates will likely produce some inflation and projections suggest a proper cost of living adjustment (COLA) for 2017 to be 3%, not the 2.5% that you have in the contract. Plus, increased health premiums will take a chunk or all of that raise so your net gain is zero. In fact, with inflation, your take home will not go as far so you may live poorer.

Also, if you have ever read the fine print of any insurance policy, the insurers (another big business driven by profits), they reserve the right to alter the plan or premiums annually, regardless of the current agreement. They may oray not do that, but you can be sure that if Congress rolls back the ACA (you probably call it Obamacare), every insurance policy will be renegotiated because the law of coverage changes. Then everyone is potentially subject to loss of coverage due to preexisting conditions.

Again, I applaud your gains, your job is important and the work is demanding. I just hope you are all well informed about ALL the details. Good luck on your return to work. It was a strong and impressive stand against corporate America.

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| 1045 views | | 4 replies (last June 2, 2016) | Reply
Post ID: @OP+HGs4Gsj

4 replies (most recent on top)

Actually, I am just a bystander watching this trainwreck of a board. Obama did not write or pass the ACA (Affordable Care Act) because all legislation (laws) and appropriations (every dollar spent by the government) require Congress. Congress writes the laws and spends all if the money. The whole idea of calling it Obamacare was a right winged effort to make it insulting to the administration. In the real world the reason people don't like the ACA is part of the same reason the Union walked out. They didn't want to pay any more money from their pockets.

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Post ID: @1hvk+HGs4Gsj

And in reference to the "ACA" as the educated individuals like yourself call it I try not to worry about hypothetical scenarios that I cannot control. Get your point, but Obamacare is complete nightmare of an attempt that needs to end regardless for the greater good of this country. Insurers do not want any part of it after experiencing it for a year, only will get worse from here.

(and by the it is referred to as Obamacare by anyone who is not a politically-correct dork working in VZ management)

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Post ID: @1see+HGs4Gsj

The same Federal Reserve that was going to raise interest rates for the past 3-4 years? Yawn.....

I agree with the saving face for the government on jobs #s, etc., but let's be serious. If I am taking the risk of the Fed raising rates (let's be serious a full 25 basis points if/when they do) I will take my chances. Get off your high horse "Dear Union Members"

Appreciate your comments at the end, but no need for the ill-informed doom and gloom. Fed has been shooting for an inflation target of 2% for the past few years ... where are you getting these outrageous "projections" from?? Which it were true for the overall economy, but it is not the case...

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Post ID: @1tub+HGs4Gsj

The Fed was going to raise the rate in June either way. A statistical narrow loss is not so bad. $85k per year gives you a little wiggle room.

THE 9% IS REPRESENTING WOOP!

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Post ID: @rsq+HGs4Gsj

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