Taxpayers are shoveling out tons of money to help stimulate our economy and put people back to work. Would it be too much to ask corporate America to do their patriotic part? After all, a robust economy will help them too.
I'm talking to you FedEx. This smacks of corporate terrorism. (h/t TPM)
FedEx could cancel contracts for $10 billion in American-made planes if Congress makes it easier for unions to organize the delivery giant's workers.
In a Securities and Exchange Commission filing, the Memphis-based company disclosed that purchases of Boeing 777s are contingent on FedEx Express' continued coverage by the National Railway Labor Act.
The disclosure serves as a warning shot to lawmakers seeking to put FedEx Express workers under the National Labor Relations Act, a move seen as helping the International Brotherhood of Teamsters.
"It's FedEx political hardball at its finest," said analyst Donald Broughton with Avondale Partners. In a research note Monday, he wrote: "We see FedEx's action as a deft political move that aligns the interests of Boeing and GE with FedEx, and pits the interests of the Teamsters against the interests of the machinist and several other trade unions."
FedEx is threatening to buy French-made Airbuses to upgrade its fleet instead. Why does corporate America hate our country and its workers?
UPDATE: FedEx isn't the only corporation that likes to play hardball. Via Washington Monthly comes information about a recent WSJ article. It basically says banks sent the following message to President Obama after Congress moved to tax their bonuses:
When administration officials began calling them to talk about the next phase of the bailout, the bankers turned the tables. They used the calls to lobby against the antibonus legislation, Wall Street executives say. Several big firms called Treasury and White House officials to urge a more reasonable approach, both sides say. The banks' message: If you want our help to get credit flowing again to consumers and businesses, stop the rush to penalize our bonuses.
Real patriotic, huh? These bankers ruined our economy, put people out of work and literally on the street, and they still want to call the shots. And they wonder why Main Street is so outraged.
Cross-posted at Blogging for Michigan.