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Re: Jersey City lays off 52 employees, with 56 more layoffs coming at end of month
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Home away from home
 
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MDM wrote:
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The idea of those "compensation via pension promises" is simple: the Government is telling people: "you work for us now, and we promise that our kids will pay you in the future". The problem with this is obvious: our kids did not sign up that promise. They have every right to refuse to pay our bills, - and if those bills will run too high - they will refuse. It's the built-in feature of any promise from any elected government, - it is not legally bounding for the next one. This is why we have regular elections in the first place, - to be able to change all the policies made before.
Posted on: 2011/6/8 0:59
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Re: Jersey City lays off 52 employees, with 56 more layoffs coming at end of month
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Home away from home
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Doubt Chapter 9, As the JC democrats skirts the REPUBLICAN governor's 3% cap. City hall will always win. Its all about cost per month. Do I really need to do an example?
I think yes, as most people here don't get it. As taxes go up, housing prices will drop. City hall has no mercy..soon, your monthly principle payment will be $100, interest $1000, and taxes $4000 per month. That was for a brownstone worth $1mm, now worth $200k. yes...I am trying to leave this socialist town...Fulop or not.
Posted on: 2011/6/8 0:06
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Re: Jersey City lays off 52 employees, with 56 more layoffs coming at end of month
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Home away from home
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Working for the public sector meant you exchanged good pay for job security. Chances were low that you would lose your job during an economic downturn (compared to the private sector) and you got a pension that would take care of you for the rest of your life. Now both compensation and pensions go far and above what the private sector pays. Plus pension worked fine when you retired at 65 and were dead by age 67. You can't have someone retiring in their 50's (often taking another govt. job WHILE collecting a govt. pension) and living into their 80's. Frankly, I would rather have better paid public employees, but with benefit packages in line with the private sector. Use the same funds and structure as the Federal Thrift Savings plan, which was put into effect to partially replace the failing federal pension system. The thrift plan is solvent. The current path will lead J.C. and many other cities into Chapt. 9 Bankruptcy and the public pension plans into default.
Posted on: 2011/6/7 23:27
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Re: Jersey City lays off 52 employees, with 56 more layoffs coming at end of month
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Home away from home
Joined:
2010/7/7 17:29 Last Login : 2023/11/10 14:36 From Downtown Jersey City
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When the pension funds run dry and the rank and file realize that they're not going to receive the $300K payout for accumulated "sick" time, and when they go to cash their pension checks and they start to bounce, maybe the union heads will finally realize what supreme idiots they've been. In the meantime, Healy expects us to swallow that police promotions are going to SAVE us money. It's a travesty. Plus layoffs in the tax assessor's office??? GREAT timing.
Posted on: 2011/6/7 21:35
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Re: Jersey City lays off 52 employees, with 56 more layoffs coming at end of month
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Home away from home
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Exactly right. The police and fire union memebrs get to take their outrageous compensation home with them where they live outside of Jersey City while the residents of JC are left facing unacceptable levels of other city services.
Posted on: 2011/6/7 21:10
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Re: Jersey City lays off 52 employees, with 56 more layoffs coming at end of month
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Home away from home
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The day of reckoning is still coming. The State police / fire pension as of March 2010 was less than 40% funded. The number today may have improved some (stock market rise), but I doubt the fund became solvent. 2019 (likely earlier) the public pension funds in NJ start to run out of cash. Not run a deficit... I mean they will be completely, utterly broke. The unions need to push for legislation to get all new hires into defined contribution plans, restructure the pension fund, reduce benefits, and stop with the double or even triple dipping into the fund. Of course they won't. So one day the pension checks will simply stop coming for the 80 year old retire as well as the 52 year old just retired.
Posted on: 2011/6/7 19:44
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Re: Jersey City lays off 52 employees, with 56 more layoffs coming at end of month
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Home away from home
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The JCEDC is a private nonprofit 501C3 corporation, not a City of Jersey City department. Sorry, I confused JCEDC for this... Quote: Thirty-nine of yesterday?s layoffs come from the Department of Public Works, four from the Department of Housing, Economic Development and Commerce, four from the Department of Recreation, three from the Tax Assessor?s Office and two civilians from the Police Department. ..."Housing, Economic Development and Commerce." My mistake.
Posted on: 2011/6/7 15:49
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Re: Jersey City lays off 52 employees, with 56 more layoffs coming at end of month
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These layoffs would not have been necessary if not for the greed of the Police and Fire unions. Public safety comprises 70-80 percent of the City budget. In a time of severe budget shortfalls why are Police and Fire getting increases and promotions when most non-uniform City employees are getting furloughed or laid off ?
Posted on: 2011/6/7 14:30
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Re: Jersey City lays off 52 employees, with 56 more layoffs coming at end of month
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The JCEDC is a private nonprofit 501C3 corporation, not a City of Jersey City department.
Posted on: 2011/6/7 14:21
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Re: Jersey City lays off 52 employees, with 56 more layoffs coming at end of month
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Was Steve "R. Kelly" Lipski among them? Y'know, "last hired, first fired?"
Posted on: 2011/6/7 13:44
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Jersey City lays off 52 employees, with 56 more layoffs coming at end of month
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Jersey City lays off 52 employees, with 56 more layoffs coming at end of month
Tuesday, June 07, 2011 By Terrence T. McDonald/The Jersey Journal Jersey City laid off 52 employees yesterday, part of an effort that city officials say will save $6 million annually in labor costs by eventually laying off 108 workers. Thirty-nine of yesterday?s layoffs come from the Department of Public Works, four from the Department of Housing, Economic Development and Commerce, four from the Department of Recreation, three from the Tax Assessor?s Office and two civilians from the Police Department. An additional 56 layoffs, from Administration and the Department of Health and Human Services, have been postponed to June 30. Last week, Chuck Carroll, president of the Jersey City Public Employees Inc. Local 246, said he?s worried the layoffs will make life worse for city residents. ?There will come a point where the city just can?t run,? Carroll said.
Posted on: 2011/6/7 13:18
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