Unions cutting their own throat in AC, NJ

[cabri]

Link

A bankruptcy court judge in October allowed the company to end health insurance and pension coverage for its workers, a move the union is appealing. Icahn, who wants to shift Taj Mahal workers to insurance coverage under the Affordable Care Act, has threatened to close the casino if the union wins its appeal.

The labor board filed a brief last week in support of the union, urging the bankruptcy court judge to reverse his decision, saying it is not supported by federal labor law.

Also Thursday, Revel asked an appeals court judge not to delay its sale any longer while an appeal from restaurants at the property is heard. Revel has been closed since Sept. 2.

In its response to an appeals court ruling last week that temporarily halted the sale of Revel for $95.4 million to a Florida developer, the casino said a delay past Feb. 9 could cause the buyer to walk away. Developer Glenn Straub's attorney has said he may forsake the deal if it is delayed past the scheduled closing date.

Should they cause the sale of the casino(s) to fail and therefore shuttering the facilities and lose the jobs?

Or are they gambling that the casino will fold to the union?
with 4 of 12 already closing; it shows that the places will close up rather than bleed themselves dry.

 

[Moonbeam]

Gambling should be illegal.

 

[nickqt]

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Should they cause the sale of the casino(s) to fail and therefore shuttering the facilities and lose the jobs?

Or are they gambling that the casino will fold to the union?
with 4 of 12 already closing; it shows that the places will close up rather than bleed themselves dry.

The casinos aren't bankrupt because of the big bad Unions.

They're bankrupt because people aren't gambling.

Sign a contract, stick by the contract. Unless you're dealing with a Union. Then just break it. Because freedom.

 

[chowderhead]

The casinos aren't bankrupt because of the big bad Unions.

They're bankrupt because people aren't gambling.

Sign a contract, stick by the contract. Unless you're dealing with a Union. Then just break it. Because freedom.

People are gambling ... More than ever. There are just many more places people can go gamble. Atlantic City will just have to consolidate and reduce the number of casinos that can sustain the market.

 

[Mai72]

The casinos aren't bankrupt because of the big bad Unions.

They're bankrupt because people aren't gambling.

Sign a contract, stick by the contract. Unless you're dealing with a Union. Then just break it. Because freedom.

I live about 45m from Atlantic City.

There are a few reasons why casinos are failing. 1) Competition from CT, PA and NY. In the past, if you wanted to gamble you went to AC, NJ. There was nothing else available. Now, it's a much different scenario. 2) The casinos that have closed have not reinvented themselves. Most are still stuck in the 1980s. The reason The Borgata is still doing exceptionally well is because they have put back into their casino. They just didn't take their profits and run. Has anyone been to Trump lately? It's a disgrace. It's no wonder that they face foreclosure. 3) Online gaming has taken off.

My brother's wife has a sister who worked in an AC casino for 20 years. She was making $80k a year. She can't retire, as she's only 45 years old. She has decided to take classes in bakery so she can extend her unemployment. What do you do when you were at one job your whole adult life?

 

[sandorski]

Unions always take a risk when fighting for their membership. If they just sit back and do nothing in order to avoid bad consequences, what's the point of their existence?

 

[cubby1223]

The casinos aren't bankrupt because of the big bad Unions.

They're bankrupt because people aren't gambling.

Sign a contract, stick by the contract. Unless you're dealing with a Union. Then just break it. Because freedom.

Eh, not really.

Casinos are going bankrupt because gambling is expanding everywhere. It's no longer confined to a few select cities across this country.

In my town before last year there wasn't a single slot machine. Now we have slot machines in every bar in town, in ~70% of (non-fast-food) restaurants. And even a dedicated storefront to slot machines in one of the strip malls. People most definitely are gambling.

 

[cubby1223]

Unions work best when the overall industry is thriving and growing. But when unions use the same negotiation tactics when the industry is in decline as when it is growing, unions absolutely damage the businesses they work for. And casinos most certainly are in a decline.

 

[nickqt]

Eh, not really.

Casinos are going bankrupt because gambling is expanding everywhere. It's no longer confined to a few select cities across this country.

In my town before last year there wasn't a single slot machine. Now we have slot machines in every bar in town, in ~70% of (non-fast-food) restaurants. And even a dedicated storefront to slot machines in one of the strip malls. People most definitely are gambling.

Then let me clarify.

Those specific casinos are going bankrupt because people aren't gambling at those specific casinos.

I mean, people gamble all the time with their friends and family. They go online, or to a local casino on a riverboat or a reservation. I'm not saying that people aren't gambling at all. Just that they, clearly, aren't going to go all the way to AC to do it.

 

[cubby1223]

Then let me clarify.

Those specific casinos are going bankrupt because people aren't gambling at those specific casinos.

I mean, people gamble all the time with their friends and family. They go online, or to a local casino on a riverboat or a reservation. I'm not saying that people aren't gambling at all. Just that they, clearly, aren't going to go all the way to AC to do it.

It's not, "those specific casinos are going bankrupt." It's, "this specific casino did go bankrupt," and during the bankruptcy proceedings a judge made a decision to alter the benefits given to the union employees.

And the union is upset because they believe they are entitled to the same pay as when the business was thriving. It's not. And as you so keenly observed too, the business most likely never will thrive again. It doesn't matter what the owners do, it doesn't matter how hard the union workers work, chances are far more likely the casino will not return to it's more glorious past.

 

[berzerker60]

Unions work best when the overall industry is thriving and growing. But when unions use the same negotiation tactics when the industry is in decline as when it is growing, unions absolutely damage the businesses they work for. And casinos most certainly are in a decline.

Management works best when the overall industry is thriving and growing. But when management uses the same tactics when the industry is in decline as when it is growing, management absolutely damage the businesses they control. And casinos most certainly are in a decline.

It's not, "those specific casinos are going bankrupt." It's, "this specific casino did go bankrupt," and during the bankruptcy proceedings a judge made a decision to alter the benefits given to the union employees.

And the union is upset because they believe they are entitled to the same pay as when the business was thriving. It's not. And as you so keenly observed too, the business most likely never will thrive again. It doesn't matter what the owners do, it doesn't matter how hard the union workers work, chances are far more likely the casino will not return to it's more glorious past.

Those uppity jerks, expecting their employment contracts to be honored, even when it's inconvenient for the owners.

 

[Double Trouble]

Those uppity jerks, expecting their employment contracts to be honored, even when it's inconvenient for the owners.

Are you familiar with bankruptcy proceedings?

I don't have a problem with the workers wanting to keep benefits they bargained for and were agreed upon, but in this case, it will simply result in losing their jobs altogether. Not a good prospect either way, unfortunately.

 

[Blanky]

They are, but in other news casinos and lotteries are terrible for society.