Discussion in 'Non-Vegas Hotels & Casinos' started by Jerseyguy2, Dec 18, 2014.
Good news for the employees,also they keep benefits ,pension plan.
How fast things change. Deal may be a NO go now
The union needs to back off in this situation. It's not an empty threat by management in this case.... They will close, resulting in 3,000 lost jobs. There are situations where the union needs to hold their ground, but this one could end ugly. It's truly sad what has happened in AC.
This gets more confusing.....Ichan changes his mind, yet commits to spending $20 million to see it through bankruptcy, and it is still slated to close on Saturday. Seems like Ichan just wants to break the Union. On Wednesday night there was a deal, his CEO signed it. Thursday morning, Ichan says: no deal, close it, 3000 people out on the street at Christmas. Seems like Ichan is auditioning for Scrooge?
I don't understand - how does Ichan benefit if the Taj closes?
He and other casino owners will benefit if he succeeds in implementing the reduced health and welfare benefit package that the union is appealing. This reduce benefit plan would be a template for his Tropicana property. It the Taj exits bankruptcy, and the union loses its appeal, then these reduced benefits will be implemented.
This has everything to do with breaking the union and nothing else. The goal here is to reduce the workers to serfs. The cost of living in NJ is very high and the workers will be absolutely destroyed if they lose their health insurance and pensions. The union is standing strong here, because it's better to lose 3000 jobs than have 20,000 more jobs reduced to poverty wages and no benefits.
There is a 3rd option. Instead of going down to zero, they unions could negotiate a reduction. Sadly, this stuff often gets into a pissing match. And nobody wins.
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