U.S. Steel workers getting $4,464 each as profit share

[Bravo Zulu]

U.S. Steel workers getting $4,464 each as profit share
Thursday, August 21, 2008
The Associated Press

A union official says the 14,000 union steelworkers employed by Pittsburgh-based U.S. Steel are getting a record-setting share of the steelmaker's second-quarter profits.

United Steelworkers spokesman Wayne Ranick says each steelworker will get $4,464 for their share of the profits. In July, U.S. Steel reported record net income of $668 million for the second quarter.

The profit-sharing for workers is based on a formula spelled out in their contract with the steelmaker.

In 2007, the same steelworkers received $2,137 each in second-quarter profit sharing.

http://www.post-gazette.com/pg/08234/905997-100.stm

[vinylsolution]

1. Good for them!

This shows the power of a union. Proof that collective bargaining really does work.

People who organize and stand together always get better pay, conditions and benefits.

If you care about your job, start a union! (especially at WalMart)

[MasonJar]

2. And the CEO?