Financial advisor Dennis Tubbergen has been a radio show host for over six years. His last guest was Karl Denninger. Denninger was the CEO of MCSNet in Chicago, one of the area’s first internet providers.
Denninger is also a founding contributor of the libertarian blog http://www.market-ticker.org and was one of the early members of the Tea Party movement. He is also the author of the 2011 book titled Leverage: How Cheap Money Will Destroy the World.
Tubbergen, who is an author, radio show host, and CEO of USA Wealth Management, LLC, spends a lot of time giving his opinions on the economy in his Moving Markets weekly newsletter at www.moving-markets.com and in his online financial blog. On
November 7, 2012 Tubbergen’s blog was titled, “Disturbing Jobs Trend.”
“America’s unions have now consented to two-tier wage models with employees who have been on the job longer getting better benefits and pay than those who have been more recently hired,” began Tubbergen.
Tubbergen quoted The Globe and Mail from November 3, 2012 which describes a group of men who carpool to their jobs at a General Motors plant in Flint, Michigan. The article states the men do not discuss money or their pay at GM because two are paid on the higher tier and the rest are on a lower tier. The employees with the most longevity make $28 per hour and have better benefits, while the others make $18 and do not enjoy the same company “perks.”
The difference in pay? About $20,000 per year.
“Two-tiered pay structures are now commonplace when they once would have been off limits for discussion with labor unions,” explained Tubbergen. “Economic winter environments create conditions that make negotiating for higher wages impossible. If the conversation changes from how much are we going to pay you to we may not be able to pay you, workers are thankful for a job. As I recently discussed, the trend moving ahead is for lower paying and part-time jobs.”
Tubbergen’s bottom line here?
“While we now know the result of the election, the problems of excess debt will continue to haunt President Obama as he attempts to run a country that, in my view, is already in recession, further shrinking much needed tax revenues.”
To read the blog in its entirety go to http://www.dennistubbergen.com and select his November 7, 2012 entry.
Tubbergen’s syndicated radio show can be heard on metro Michigan stations WTKG 1230 AM and WOOD Newsradio1300 AM and 106.9 FM.
Dennis Tubbergen has been in the financial industry for over 25 years and has his corporate offices in Grand Rapids, Michigan. Tubbergen is CEO of USA Wealth Management, LLC and has an online blog that can be read at www.dennistubbergen.com. To view Tubbergen’s latest Moving Markets? newsletter, go to www.moving-markets.com.
The opinions expressed herein are those of the writer and not necessarily those of USA Wealth Management, LLC. This update may contain forward-looking statements, including, but not limited to, statements as to future events that involve various risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual events or results to differ materially from those that were forecasted. Therefore, no forecast should be construed as a guarantee. Prior to making any investment decision, individuals should consult a professional to determine the risks, costs, benefits and fees associated with a particular investment. Information obtained from third party resources is believed to be reliable but the accuracy cannot be guaranteed.