Agreed, but when the lean times come, and they will, how many give backs will the workers give? It's always "one way" with unions. If they signed on as limited partners when they hired on, then they should share the wealth. There is no downside for an employee. They want gravy when it's good, but don't give an inch when it's bad.
It would be nice to have profit sharing with your company, but if you have that, be prepared for loss sharing also.
How far would you get with Ford right now if the company suggested a $1 an hour cut with a $5 extra co pay on a doctor visit? They would rather close the doors on a 100 year old company and EVERYONE LOOSE THEIR JOB. You can't loose the kind of money they are and stay open for long. I worked union(SBC) for 30 years and I've seen all this. They would rather me loose my job than give an inch. BTW, about 50% of their "union" brothers were laid off during the last 10 years. IMHO, if a vote were taken at AT&T right now, I don't think the union would survive.
please see my #172. We are not all that far apart, I think.