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Once again, a large contingent of GE retirees and supporters descended on the annual GE Shareholder’s meeting. This year’s meeting was held April 26 in Philadelphia. Local 201 Retiree Association President, Kevin Mahar, with 8 other Local 201 retirees, joined a large group of UE Local 506 GE retirees from Erie, PA and a smattering of retirees and supporters from various GE locations. Local 201 Business Agent Ric Casilli, along with recently retired LPDD Steward Chet Bowzer, also made the journey in support of the retiree’s just request to GE for pension fairness. Approximately, 75 GE retirees (many in their 70’s, 80’s, and 90’s) picketed outside the Shareholders Meeting at the Philadelphia Convention Center. Their signs demanded a pension increase, a minimum pension floor, a pension COLA, medical cost relief, and retiree representation on the GE Board of Directors and the Pension Board. A new "Hall of Shame" leaflet was distributed, with former GE CEO Jack Welch’s photo replacing a picture of a recently deceased hourly retiree. The Philadelphia Inquirer picked up the story, as did some local TV stations. The Inquirer, reported the sharp and despicable pension figures in the "Hall of Shame" publication, whereas hourly retirees were receiving pensions in a range of $581 to $1,007 monthly while Jack Welch was bestowed approximately $800,000 monthly. Following the picket, retiree’s checked into the Shareholder’s Meeting chaired by GE CEO JEFFREY Immelt. 201 Retirees Association President Mahar turned in hundreds of collected proxies representing over a million votes. Proxies were stamped with the words: 1. Annual COLA, 2. Current Minimum, and 3. No Raiding of Our Pension Plan. A number of retirees (including Mahar) spoke on a few ballot issues, including on a new question concerning hourly retiree representation on the GE Board of Directors. All speakers spoke respectfully but bluntly, of the blatant unfairness of the distribution of funds out of the GE Pension Plan. Despite being outvoted, by the millions of shares of stock owned by top corporate officials, the determined retirees felt once again they had highlighted the inequities of the Pension Plan. It has to make someone… somewhere… at sometime, think that there is something very wrong, when so many retirees are willing to sacrifice three days and ride almost 24 hours in a bus (with canes, meds, and wheelchairs) to make their voices heard.
BOISTEROUS RETIREES PACK Approximately 2,000 people attended the annual GE Shareholders Meeting held this year in Waukesha, Wisconsin. Newspaper reports indicated that the meeting was packed with GE retirees fighting for increased pension benefits (some getting less than $200 a month) and one newspaper quoted Company officials as stating attendance may have set a record. The IUE-CWA press release reported that the Union’s share-holder proposal #6 received 13.2% of the vote with the IUE-CWA collecting "more than 6 million proxies from 1,150 members". In addition, many retirees’ groups (including Local 201’s) and others also submitted additional proxies in support of the Union’s resolution, which would have removed pension fund income from formulas used to determine executive compensation. The 13.2% is a significant number of proxy votes for the issue being on the ballot for the first time and considering the number of proxies held by high corporate officials. The IUE-CWA passed out a leaflet to shareholders publishing the fact that GE posted a record profit of "$14.1 billion" and the GE Pension Plan produced "$2.1 billion in income in 2001". At the same time, the leaflet highlighted the plight of GE retirees and IUE-CWA Local 119 members in Philadelphia who are losing their jobs this August as a result of another GE shutdown of a profitable plant. The leaflet was well received and the Local 119 Retired Members Club President received some prime local news coverage. Related Retiree rallies were held in Louisville, Schenectady, here in Lynn (on April 30th) and other GE locations around the country. With the 2003 GE contract just around the corner, pressure from the unions and retirees groups is just heating up.
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For further information contact Local 201 IUE-CWA at (781) 598-2760 |
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in South Carolina on Wednesday April 25 calling for
justice for retirees. With signs and chants we
highlighted the needs of the GE retirees and then went
into the meeting as shareholders to vote and speak for
the union supported resolutions.
Local
761. They were joined by 10 retirees from Local 201,
and retirees from Syracuse, NY, Rome, GA, Schenectady,
NY, Milwaukee, WI., and NABET in NYC, NY. 
retirees continue to struggle without even a cost of
living increase.”
