Teamsters

Obama Signs Deal to Allow Mexican Truckers Onto U.S. Highways

In yet another blow to U.S. workers, the Obama administration has signed a deal for Mexican truckers to operate inside the United States.

The news headlines all sing hallelujah over some soon to be disappearing punitive tariffs Mexico put on 99 U.S. products simply because we wouldn't let Mexican truckers, instead of American ones, on U.S. highways. There is no mention in the major press of the cost to American workers, the increased illegal drugs entering the country, the illegal immigrants being smuggled into the U.S., and the wages and jobs lost. Nor is there anything mentioned about border security in the press, or even challenging Mexico for being in violation of NAFTA by their attempts to subvert U.S. labor law in the first place.

The teamsters have been fighting this tooth and nail and just came out swinging. Mexican truckers have lax safety standards and much lower wages, yet will be allowed to work in the United States, by driving on American roads, displacing U.S. truckers.

Teamsters General President Jim Hoffa today castigated the U.S. Department of Transportation for agreeing to open the border to long-haul Mexican trucks. Opening the border endangers America’s highway safety, border security and warehouse and trucking jobs.

Goldman Sachs Saves the Teamsters?

This is a strange story. Bloomberg headlined, Goldman Sachs Helps YRC Avert Bankruptcy Following Hoffa’s Plea as if Goldman Sachs saved America's largest trucking company from default.

Goldman Sachs Group Inc. helped YRC Worldwide Inc. complete a debt swap to avert bankruptcy after the Teamsters union said the bank was trying to profit from a failure of the largest U.S. trucker by sales.

A group consisting of Goldman Sachs, Deutsche Bank AG, Aristeia Capital LLC, Silverback Asset Management and a Smith Management LLC unit, “got us over the goal line by going into the market, buying bonds and tendering them,” YRC Chief Executive Officer Bill Zollars said yesterday.