In response to the letter writer’s claim that an employee-owned business is the way to grow jobs, we would like to tell the rest of the story. It is misleading to say that a company can provide every employee-owner a retirement savings through company contributions of employer stock at no cost to the worker. Who are these workers? Certainly not the IAM production workers who had their pension plan stopped by the employee-owners.
As to the letter writer’s comment of “skin in the game,” every IAM member who works for the company has “skin in the game,” such as families, mortgages, college tuition, etc.
The letter writer indicates the company has grown by 30 percent, but the actual IAM workers wage has increased less than 3 percent over a decade. The letter writer ignored mentioning IAM workers. They are the ones who make the products that make the company money, while the employee-owners cost the company money. He seems to have forgotten the very workers that produce the machines that have made his 30 percent growth possible.
The IAM production workers are NOT employee-owners, and not subject to the lucrative wages and retirement.
International Association Machinist and Aerospace Workers, Fairfield Lodge No. 1293