Coop refinery

[LEP]

So whos lying $104000 is a long way from $170000 ,still a very nice wage.

FCL makes a payment that equates to $66,000 a worker for their pension which is a defined benefit pension. These types of pensions are becoming very rare. The onus is on the plan and hence the employer to make sure they are actuarily sound. This type of pension guarantees a % of your best 5 year's salary. FCL pays all pension costs which are very expensive especially when salaries increase. Pretty much the entire country has moved away from these types of pensions except the federal and municipal governments. The province made a change in the early 80's. Very few companies can afford these pensions.

FCL is trying to move to a defined contribution pension sorta like an RRSP where they match your contribution and your pension is an annuity of the balance outstanding at your retirement. This plan doesn't have the risk of a periodic shortfall because of low market investment rates.

[furrowtickler]

Unions doing this while farmers will be taking a 30-40% hit in net incomes .
And they wonder why there is a rural / urban division.
I for one am sick of co-op strikes . There are many other places to get fuel and food .

[ajl]

Do have to account for the CPP and EI payroll taxes as well. The tax is 1.4x the EI deduction and matching the CPP here in AB. This defined benefit pension is one of the reasons stuff costs more at the coop and why all coops are doomed to disappear. We have a proposal to sell our REA to ATCO for the same reason and I hope this time it goes through. Last time it was 57% in favor buts needs 66% by law.

[Goodtime]

Well they can't fire the union employees, FCL would basically have to shut the refinery down permanently to get rid of them so we know that won't happen. FCL has very deep pockets and I don't imagine a striking worker gets a huge union pay check....FCL will choke them out eventually, mortgage payments, truck payments, sled payments, little Jimmy and Sally's hockey fees all add up without a pay check. Let's see how tough Unifor is on the picket line in 6 months.

[walterm]

I have a friend on the picket line. They make close to that 104 000 average. They do not support the strike. They were fine with the changes to the pension, just a few small things they didn't like. They know they make good money for the work they do. They said the union didn't make a real effort to negotiate before the lockout. The last think a union wants is a happy and content workforce. They start wondering why they are paying union dues.

Did they not vote in favor of a strike? Then FCL locked them out before they could go out.

If they are against strike why don't they just put on hard hat and go to work? I'm sure FCL will still pay them.

[bucket]

I remember working in Calgary at a unionized steel plant and told the workers they would shut the doors if they kept pulling the shit they were and told them they couldn't get a job anywhere else that paid them as well with no education....

They thought I was bullshitting ....it was closed within two years and the equipment installed during the time there was gone to the middle east...


I had left before the closure but could see the writing on the wall....

Federated won't close the refinery but they have issues in the system....

The way federated is phucking the locals is obscene.....

[Partners]

Most smaller towns have a newer coop food store..newer C store..
Without them the towns would be ghost towns..
Cardlocks every Where..they spent a lot of money..and yes they are making lots to..
With our farm fuel..the equity cheque is pretty big at the end of the yr..
Archerwill coop amalgimated with prairie North.
Got a real nice check from that to..

[Maver]

Did they not vote in favor of a strike? Then FCL locked them out before they could go out.

If they are against strike why don't they just put on hard hat and go to work? I'm sure FCL will still pay them.

Sorry, i meant the individual I know, doesn't support the strike. The union does.