R i v e r C i t i e s ’ R e a d e r
• V o l . 1 7 N o . 7 5 4 • J u n e 1 0 - 2 3 , 2 0 1 0 B u s i n e s s • P o l i t i c s • A r t s • C u l t u r e • N o w Y o u K n o w • R i v e r C i t i e s R e a d e r . c o m
Things we want you to know:
New two-year agreement (subject to early termination fee) and credit approval required. A $30 activation fee may apply. Regulatory Cost Recovery Fee applies; this is not a tax or government-required charge. Additional fees, taxes, terms, conditions and coverageareas apply and vary by plan, service and phone.
Promotional Phone
subject to change. U.S. Cellular Visa Debit Card issued by MetaBank pursuant to a license from Visa U.S.A. Inc. Allow 10–12 weeks for processing. Card does not have cash access and can be used at any merchant locationthat accepts Visa Debit Cards. Card valid for 120 days after issued. Mobile Internet Plan is $14.95 per month. Premium Mobile Internet Plan is $19.95 per month. Smartphone Plans start at $24.95 per month. Application and data network usage charges may apply when accessingapplications. Mobile Broadband on 3G Network only available with select handsets. Users can expect an average download speed of 768Kbps and an average upload speed of 200Kbps.
Modem Access Discount:
$49.95 access discount valid for the first month of a new two-year agreementwith 5GB Wireless Modem Plan. Use of service constitutes acceptance of the terms of our Customer Service Agreement. See store for details or visit uscellular.com. Limited-time offer. Trademarks and trade names are the property of their respective owners. ©2010 U.S. Cellular.
Let us help you find a location: visit
uscellular.com
or call
1-888-BUY-USCC
Only
U.S.
Cellular
®
gives you Free Incoming Calls, Texts and Pix from anyoneon anyphone or network at any time. Enjoy them on our speedy
3G
Network.
SCHOOL MAY BE OUT, BUT
connecting
HAS NEVER BEEN MORE IN.
Get a free Wireless Modem— and a free month of servicewhen you activate a new modem.
Access Facebook,
®
watch videos and surfthe Web at 3G speed on your laptop.
After $50 mail-in rebate that comes as a Visa Debit Card.Requires new 2-yr. agmt. and 5GB Wireless Modem Plan.
Get a special deal on great phones for grads:
SAMSUNG FREEFORM
TM
free
After $50 mail-in rebate that comes as a Visa
®
Debit Card. Requires new 2-yr. agmt. and 3-mo.Mobile Internet Plan. $30 act. fee may apply.
LG MYSTIQUE
TM
$
79
95
After $50 mail-in rebate that comes as a VisaDebit Card. Requires new 2-yr. agmt. and 3-mo.Mobile Internet Plan. $30 act. fee may apply.
HTC TOUCH PRO2
TM
WINDOWS
®
PHONE
$
149
95
After $70 mail-in rebate that comes as a VisaDebit Card. Requires new 2-yr. agmt. andSmartphone Plan. $30 act. fee may apply.
Follow us on Facebook.
L
AfteDebMo
B u s i n e s s • P o l i t i c s • A r t s • C u l t u r e • N o w Y o u K n o w • R i v e r C i t i e s R e a d e r . c o m
R i v e r C i t i e s ’ R e a d e r
• V o l .1 7 N o .7 5 4 • J u n e 1 0 - 2 3 ,2 0 1 0
necessary reserves to meet their obligations tomembers. Te graver issue here is that the study does not include 2008 through May 2010, so noneo the lings include any downturn in pensionportolios aer the nancial meltdown. You can betthe situation is ar worse than the study shows.Is it any wonder that SEIU’s great poseur Andy Stern is at the helm in aggressively lobbyingPresident Barack Obama and Congress toapprove a $165-billion bailout or not only itsown union, but also or the eamsters union,International Brotherhood o Electrical Workers,Laborers’ International Union o North America,International Association o Machinists, UnitedBrotherhood o Carpenters, and the nationalplumbers association, to name a ew. Tis isunconscionable.SEIU would like to blame their pensions’ grossunderunding on the poor economy, except that theSEIU’s union ocers’ pensions are doing splendidly by all standards. In act, Stern and his ellowcronies are unded at 103 percent! Te rank-and-le membership, however, is acing decits, withless than 80 percent o required assets to pay itsobligations to workers (considered an “endangeredpension,” as dictated by the Pension ProtectionAct o 2006) and less than 62 percent o necessary assets (classiying each o these with “criticalpension” status).Te truth is that blatant mismanagemento rank-and-le-membership pensions is theonly reason or such dismal and hypocriticalstewardship. Union leadership has known or atleast 10 years that underunded pensions are amonumental problem. Yet instead o orthrightly dealing with the problem, they have deceived themembership, conspiring with elected ocials todra legislation – S.560 and H.R. 1409: EmployeeFree Choice Act (EFCA) o 2009 – that would allowunions to remedy the problem on the backs o nonunion employers and workers through coercivecontributions via mandatory memberships withoutsecret ballot/voting, and through governmentintervention through mandatory arbitration toexecute ederally written contracts i companiesand unions cannot agree within 120 days o initialnegotiations. Tis second provision could orcenonunion companies out o sound, well-undedpensions and into larger but underunded pensions
Union Ocers’ Pensions OkayWhile Employees’ Pensions Perish
by Kathleen McCarthykm@rcreader.com
A
nyone with a a hint o common senseknows you can’t spend (borrow andconsume) your way out o debt intonancial recovery, let alone prosperity. Secondly,the most recent jobs report indicated that o the431,000 new jobs created via the stimulus bailout,390,000 were government jobs, mostly or theCensus Bureau, leaving a paltry 41,000 new jobscreated in the private sector, which is the only sector that pays its own way. Furthermore, most o the 390,000 employed in the Census Bureau will belaid o this summer, because those jobs are comingto an end. Tis is hardly recovery.When the government creates jobs in thepublic sector, the wages o those olks are paidby taxpayers because the public sector does notcreate its own revenue. Tereore, the governmentcoercively takes part o the revenues created by theprivate sector (the wages you and I earn) by meanso taxation (IRS).Te stimulus money used to und the newly created 390,000 census-bureau jobs came romeach and every taxpayer. It is a most inequitablearrangement, especially considering the infatedwages and benets paid to government employeescompared to their counterparts in the privatesector. Tis does not include the excessive wastethat prevails in the public sector because at the endo the day, the money being spent does not belongto those spending it. Tere is zero incentive tomanage expenses as they relate to revenues becausethere are zero consequences or overspending.No amount o regulation has overcome thisincompetency because the ox is watching the henhouse.Now comes another monumental insult totaxpayers in the orm o both a $165-billion bailoutrequest rom the largest public-sector unions,coupled with intrusive legislation designed to levelthe playing eld by mingling these mismanagedpensions with those o workers who contribute towell-unded, responsibly managed pensions as ameans o an additional bailout or nancial loserslike Service Employees International Union (SEIU).According to the Hudson Institute, which did astudy o the 20 largest public-sector-union pensionsincluding SEIU’s, over hal are either endangeredor critical. Hudson examined the 2005 through2007 5500 lings required annually by the Bureauo Labor Statistics that compare assets and liabilitiesto make sure pensions are in compliance with the
Clean well maintained clubs
Non-intimidating atmosphere
Supervised child careKnowledgeable staffGet in shape for less
Boot Camp Training Classesfor all levelsWeight loss specialistsBest in exercise equipment
Personal training
O
B O O T C AM P
RESULT S GUARANT EED
SUMMER
FITNESS
X
PRESS
IOWA CITY319-351-1729
1059 Hwy 6 EIowa City, IA 52240
DAVENPORT563-386-2348
109 E 50th St.Davenport, IA 52806
FITNESS
GET FIT FAST
www.fx247.com
O
FOR THE FIRST 50 PEOPLE
HURRY! OFFER EXPIRES 6/30/10.
SUMMER SHAPE
UP
Must be at least 18 years of age or 12 with guardian. Plus a one time processing fee of $20 and $24.99 monthly dues on eft on a 12 month contract.
Check club for details. Offer expires 6/30/10.
DAYS OF
FREE
FITNESS
5
F I T N E S S
F I T N E S S
OR
$
ENROLLMENT
Continued On Page 21
Search History:
Result 00 of 00
00 results for result for
p.
River Cities Reader - Issue #754 - June 10, 2010
1.2K
Reads
3
Readcasts
131
Embed Views
More From This User
Notes
Load more
