Steelworkers Disgusted by Caterpillar CEO’s Shameful 2012 Cash Grab

[Omaha Steve]

http://nhlabornews.com/2013/04/steelworkers-disgusted-by-caterpillar-ceos-shameful-2012-cash-grab/

By New Hampshire Labor News | April 23, 2013

PITTSBURGH – The United Steelworkers (USW) today denounced Caterpillar Inc. CEO Douglas Oberhelman’s 32 percent compensation increase from $16.9 million in 2011 to $22.4 million in 2012 as shameful and unwarranted.

USW District 2 Director Michael Bolton said that rewarding Oberholman’s job performance by boosting his already lavish compensation by nearly one-third in 2012, despite lower than expected earnings, sends a dangerous message to other CEOs that lining their pockets at the expense of their workers is somehow acceptable.

“In 2012, Caterpillar Inc. put 700 people out of work by shutting down its Electro-Motive Diesel plant in London, Ont. after locking out its workers when they rejected a 50 percent wage cut; then the company bullied almost 800 workers into major wage and benefit concessions after a three-month labor dispute in Joliet, Ill.,” Bolton said.

“In South Milwaukee, Caterpillar management threatened to lay off 40 percent of the plant less than a week before our negotiations started,” Bolton said, “and when we got to the table, the company proposed unnecessary, sweeping changes to our contract language and continues to demand unfair concessions in other major economic and non-economic areas.”

FULL story at link.

[Teamster Jeff]

1. Just another corporate scumbag

Fuck him

[arikara]

2. They get bonuses based on how many jobs they cut

the union just told us at my job that supervisor bonuses are based 60% on cuts, 20% on customer satisfaction and I forget what the other 20% was. They took away our bonuses totally, and hours are being quickly whittled down too. Soon they won't have anyone to supervise and will bonus themselves right out of work.

But the CEO will be good and rich, that's the main thing.