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WIN Week In Review July 18-20, 2008WIN Week In Review July 19-20, 2008 By Doug Cunningham GM - America’s fourth largest company in annual sales - said Tuesday that it’s making more deep cuts to survive a harsh economy. GM jobs have gone from 107,000 hourly jobs in 2004 to 74,000 today. Buyouts and early retirement incentives will slash even more of those as some new workers are added at half the pay. The new cuts include selling off $4-7 billion in assets, slashing salaried jobs and benefits and suspending the GM stock dividend. GM CEO Rick Waggoner called this an “unprecedentedly difficult time”. He said these cuts are necessary for GM’s survival. Workers at the University of California’s 10 campuses went on strike Monday. Jesse Russell reports: Senator John McCain calls Social Security a “disgrace”, but the AFL-CIO says it’s an American success story, it’s not broken and it’s NOT a disgrace. The labor federation says Social Security is the cornerstone of American retirement security and McCain wants to gamble it away with risky privatization and diversion schemes that will only weaken it. McCain, the AFL-CIO note, has used every opportunity to vote to replace Social Security with private accounts that will undermine the system. What millions of Americans who depend on Social Security need, the AFL-CIO says, is a president who will strengthen the system, protect it and bring it into long-term balance. AFL-CIO Building and Construction Trades Department President, Mark Ayers says that Senator John McCain has failed veterans in the U.S. Senate. On Thursday, the SEIU rallied for what it called a Global Day of Action to take back the economy against private equity firms. One of the goals, according to the SEIU, is to get Congress to close tax loopholes that give private equity firms big tax breaks that then reward the destruction of jobs when equity firms buy, slash and sell companies. SEIU says if these tax loopholes were closed to the “buyout billionaires” $31 billion in government revenue would be generated. That money could be used for healthcare or for middle-class tax cuts rather than stuffing the already overstuffed pockets of private equity firm owners. The Tenement museum on the lower east side honors the history of New York City garment workers who organized unions to better their lives. But UAW Local 2110 organizer Edan Shulz says the museum isn’t honoring its own workers’ wishes to have their union recognized. [Shulz]: “It is pretty ironic that their own employer is trying to push them away from a union that they want." Posted 07/19/2008 - 8:44am | 152 reads
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