Bargaining updates: September 25th
Your bargaining team received no counters proposals from management. This is the third week in a row with no counter proposals.
Management had the following questions on our economic proposals:
They questioned members’ interest in the tuition reimbursement proposal. Your bargaining team said that we do not have an exact head count of interested members. Rather, the intent of this article is to address an issue we’ve heard from many of you, which is that you want to expand your skill sets, knowledge, and expertise while continuing to work at the Academy.
Management questioned how we decided on an 8% raise. They asked: did we come up with it by comparing it to the “market rate”? What other contracts have an 8% raise?
Our response: the museum job structure historically underpays and undervalues workers, but we can be a leading institution by providing a living wage to staff working to better the environment and their communities. Management replied that “we can’t solve capitalism at this table”
We can solve capitalism one contract at a time! The graph below shows the inverse relationship between union power (measured by union membership rates) and income inequality, from the Economic Policy Institute.
Operations Department Organization
Leah Van der Mei and Tony Promessi came to discuss the future of the maintenance department. There is a need to restructure positions, and they proposed the idea of a working group on the future of the department, or to have the bargaining team negotiate on their behalf. Your bargaining team will be reaching out shortly to the affected members to discuss further.
Academy Finances
Your bargaining Team also received a presentation from Jim Gohary, the Academy’s Chief Financial Officer, on the Academy’s bond. Jue Wang, a researcher with SEIU 1021, joined us to ask questions.
Academy management created a financial investment portfolio called the “Campaign Fund” where it has set aside $267M (in the form of financial investments) for the new building. Jim said the Campaign Fund is earning a 5% fixed return, which is higher than the 3.25% interest rate the Academy currently pays on its $281.5M bond. At this rate, the Campaign Fund will accumulate enough money to repay the principle of the bond in a few years, and the Investment Committee of the Academy Board of Trustees is planning to consider repaying the principle of the bond in 3-4 years. Jim said because the campaign fund is separate from operating funds, labor costs cannot be paid by investment incomes generated in the Campaign Fund.
Youth Action for the Planet and Aleks Liou
We proposed a counter on the termination of Aleks Liou and are still in negotiations with management. More details to come.
