How We Make Working in America Better: Unions, Labor Law & At-Will Employment

The Money with Katie Show

Money with Katie

Self-improvement, Education, Business, Investing, How To

4.8 • 1.3K Ratings

🗓️ 25 September 2024

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

If we’re talking about negotiating for higher income without talking about labor organizing, we’re outright ignoring one of the most powerful determinants of how people are paid. This week on the show, you’ll hear from two people: an anonymous 20-year veteran of publicly traded, multinational corporate human relations who believes the “at-will employment” structure in the US is the core of our systemic insecurity, as well as renowned labor journalist Hamilton Nolan, who advocates tirelessly for union density as the best way forward. Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/unions. Money with Katie’s mission is to be the intersection where the economic, cultural, and political meet the tactical, practical, personal finance education everyone needs. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This episode of The Money with Kitty's Show is brought to you by Fidelity.
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0:41.9	slash baskets. Investing involves risk including risk of loss.
0:46.2	Fidelity Brokerage Services LLC member NY-P-C. T. I've talked frequently on the money with Katie platform about my time working at Southwest Airlines and it was in many ways an absolutely
1:26.7	incredible employment experience. I'm still close friends with many of the people
1:31.2	that I met there and my memories of the company are almost
1:35.2	exclusively fond which is pretty rare. But a couple of years into my tenure in 2019,
1:41.5	the Mechanics Union won a massive victory. A five-year deal that gave all 2,500 of them,
1:50.3	a hundred and sixty million dollars in total back pay to cover the period since their last contract ended in August 2012.
2:00.0	20% immediate salary increases and 3% annual raises.
2:06.4	Guaranteed.
2:07.4	At the time, I was making $60,000 per year,
2:11.2	and I learned through the grapevine that the mechanics would each be receiving up to $90,000 in one-time payments for the back pay.
2:19.4	I am unable to verify that claim now by the way, so please take that as the hearsay that it was and is.
2:25.3	Still it was shocking to me particularly as I was negotiating around the same time with my boss's
	...

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