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Showing blog posts tagged with shareholders

Crystal Sugar Shareholders Paid 25% Less Since Lockout

When American Crystal Sugar Co. locked out 1,300 workers from five plants in August 2011 because they wouldn't accept a contract that included significant increases to their health care costs and major changes to job security, the company replaced the highly skilled workers (click to enlarge image).

As a result, productivity has plummeted and American Crystal shareholders are losing money. Another sugar beet processing company, Minn-Dak, paid its shareholders roughly the same in 2010 as did American Crystal. But when replacement workers stepped in, American Crystal Sugar's shareholders received $59 a ton—and Minn-Dak's got an estimated $75.05. That's 25 percent less for American Crystal shareholders in fiscal 2011.

Two words describe such management: Really dumb.

Tell American Crystal CEO Dave Berg to stop wasting shareholders’ money and go back to the bargaining table.

Help locked-out American Crystal workers. Please donate to the BCTGM Lockout Action Fund, care of the Minnesota AFL-CIO, 175 Aurora Ave., St. Paul, MN 55103.

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Call Verizon Now and Tell It to Give Workers a Fair Shake

Thousands of working families are gathering outside the Verizon shareholder meeting this morning in Huntsville, Ala., to protest the company's "VeriGreedy" treatment of customers, workers and taxpayers.

Even as Verizon tripled the compensation of CEO Lowell McAdam to $23.1 million last year, the corporation was outsourcing U.S. jobs, gutting worker pensions and charging current and retired employees and their families thousands of dollars more for health benefits while cutting disability coverage. Meanwhile, employees have been struggling to win a new contract for nearly a year.

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99% Spring Urges Peabody Energy to Pay Fair Share of Taxes

99% Spring Urges Peabody Energy to Pay Fair Share of Taxes

Bob Soutier, president of the Greater St. Louis Labor Council, spoke today before hundreds gathered outside of Peabody Opera House as the Peabody Energy Corp. held its shareholders' meeting. Union activists and other members of the 99% Spring want the giant coal company to pay its fair share of taxes—because right now, Peabody's tax breaks take funds from those who need it most, such as St. Louis schools and social services.

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It’s Time for Investors to Weigh In on Refinery Safety

Gary Beevers, United Steelworkers (USW) international vice president for Oil Bargaining, sends us this report. Beevers has extensive experience negotiating with major oil companies with the Oil, Chemical & Atomic Workers Union (OCAW).

A little after midnight on Good Friday last year, a heat exchanger on a naphtha hydrotreater unit at the Tesoro oil refinery in Anacortes, Wash., catastrophically failed.  The unit exploded, setting off a blast that shook homes five miles away and igniting a fire that could be seen anywhere in Anacortes.  Three oil workers died in the blast; four others died at the hospital from injuries sustained in the accident.

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