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NY transit strike - Assignment Example

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These demands were in the areas of: retirement, pension and wage all of which were to be increased by a certain percentage but that did not happen. In the wage and salary increase for example, the agreed…
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NY transit strike

Download file to see previous pages... he truth however was that the company was slowly going into debt and they kept on borrowing money to reimburse capital plans and the taxes they were paying for real estate were all time high due to the boom hence sinking them again in the debt hole. This was probably the reason why they would not meet the demands of their union workers (who thought that the company was intentionally refusing to pay them whereas they had budget surplus) and they hid the looming debt crisis from the union leaders.
In the real sense, the budget was in the “red” as the company had debts it could not service and which were threatening to bring the company down. The face portrayed by the company to the workers and the rest of the citizens was that it was in the “black” with a high budget surplus. This was misleading and accelerated the ...Download file to see next pagesRead More
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