Another classic tale of corporate greed is unfolding in Ohio, and we need your help to put a stop to it.
In 2008, when Cooper Tire & Rubber Company was losing money, workers at its Findlay, Ohio, plant gave up $31 million in pay and benefits to help the company stay afloat.
Thanks to the workers' sacrifices and productivity, Cooper has made more than $300 million in profits since 2009. Cooper paid its executives millions of dollars in bonuses and bought a new corporate jet. What did its employees get? Locked out on Thanksgiving weekend.
Despite soaring profits, Cooper pushed a new contract on its employees with higher healthcare premiums and undisclosed wage terms. Do you think CEOs would accept a contract if they didn't know if they were getting a raise or a pay cut? Not a chance.
Still, Cooper's employees were more than willing to keep working through negotiations to reach a fair deal after their contract expired last fall. But Cooper refused to budge – leaving 1,050 workers out in the cold since November 28.
Cooper can easily afford to set things straight and still turn a profit. Cooper CEO Roy Armes received $4.7 million in compensation in 2010.3 And the company has purchased a plant in Serbia for $17.3 million!4
Cooper wants to cry broke, but greed – not need – is driving this lockout. As Chico Ramirez, who's logged 25 years with the company, explains, "The thing that bothers us is that we gave them concessions to help them get back on their feet, and they are paying out bonuses instead of paying back the backbone of the company."
Around the country, people are fighting back against corporate greed and standing up for the 99%. Will you stand up and fight for Cooper's workers too?