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Sikorsky Corporate Greed: Not Gonna Fly!

Why is George David, the head of Sikorsky's parent company United Technologies, trying to cut health care benefits for the 3,600 Teamsters on strike at Sikorsky?

  • In 2005 he raked in $88.7 million in total compensation.
  • In fact, he has another $155.6 million in stock options.
  • In 2005, Sikorsky revenues soared to $2.8 billion.
  • Fourth-quarter earnings skyrocketed by 33 percent.
  • Helicopter deliveries jumped this quarter by more than 40 percent.
  • Sikorsky's parent company, United Technologies (UTC), dropped $1.2 billion last year to buy back its own stock -- a record level that it expects to increase to $1.5 billion this year.
  • Analysts say Sikorsky will remain an industry leader long into the future with an estimated $9.1 billion in defense contracts -- and growing.
RELATED STORIES
  • House Transportation Committee Chairman Urges Sikorsky Back to Negotiations

  • Sikorsky’s Sham Offer Fails to Address Issue Behind Strike—Health Care

  • Thousands of Teamsters Stand Strong Against Sikorsky

  • More News and Links

     

    Yet Sikorsky wants to cut health care benefits.

    Sikorsky Teamsters understand that health care is a national crisis, that's why we are willing to work with the company to solve this problem by moving money from other economics in the contract to cover health care. 

    Why do the rich get even richer, while regular working Americans can't even hold onto their health care?

    Call Sikorsky and tell them you support the Teamster workers on strike -- 800-946-4337.

    Also, email your Senators and Representatives in Congress and tell them Sikorsky isn't being a good corporate citizen.

    Sample Letter for Campaign

    Subject: Don't let Sikorsky's Corporate Greed Fly

    Dear [ Decision Maker ] ,

    Sikorsky pockets billions of taxpayer dollars through Department of Defense contracts. But the company wants to cut health care benefits to average working Americans -- your constituents.

    Sikorsky Teamsters understand that health care is a national crisis, that's why we are willing to work with the company to solve this problem by moving money from other economics in the contract to cover health care.

    Tell Sikorsky you side with voters, and pressure them to negotiate.

    Sincerely,

    Campaign Launched:
    February 28, 2006



    Background Information

    There is a battle going on in your community -- and the future of America hangs in the balance.

    Several thousand brave men and women are fighting for a society where health care isn't only for the rich and where corporations are responsible members of the community.

     
    RELATED STORIES
  • House Transportation Committee Chairman Urges Sikorsky Back to Negotiations

  • Sikorsky’s Sham Offer Fails to Address Issue Behind Strike—Health Care

  • Thousands of Teamsters Stand Strong Against Sikorsky

  • More News and Links

    These 3,600 men and women, members of Teamsters Local 1150, were forced to strike by Sikorsky Aircraft Corp., a helicopter manufacturer owned by United Technologies Corp., on Feb. 20.

    Sikorsky wants to double the cost of its workers' health care co-payments in the first year of their contract and then hike them an additional 15 percent over the next two years. This would be the same as the plan for Sikorsky's executives and managers - but they earn a lot more than our members do and their pensions are a lot richer.

    The company says that it is taking a stand because America's health care system is broken. Sikorsky says it wants to teach its employees a lesson about how much health care costs.

    Sikorsky must think we've been living on another planet for decades if it thinks we don't already know there's a problem. Our union has been leading the way, calling for a national health care system. We invite Sikorsky and UTC to join us.

    The workers who are out on strike are well aware of the crisis. They have offered to accept smaller raises and to shift other money around to help pay for their coverage. An offer Sikorsky has flatly refused -- even though it won't cost the company a dime more.

    And it's not like Sikorsky is running low on cash.

    Sikorsky had $2.8 billion in revenues in 2005. United Technologies had profits of $3.07 billion in 2005. A company spokesman recently bragged that the company's performance has been "extraordinary," with total returns to shareholders three times greater than those of Standard & Poor's 500 companies over the past decade.

    The company is rolling in enough dough that George David, head of United Technologies, took home $53.6 million in salary, bonus and stock option gains last year. In 2004, he took in more than $97 million including salary, bonus and stock options he cashed out; and he has more than $150 million more in stock options from previous years.

    In a tough economic climate, you are probably asking where all of this money is coming from. It's coming from your wallet. Your tax dollars are funding these unbelievable profits. Sikorsky's workers build helicopters that protect our troops around the world.

    On its web site, Sikorsky says, "We are citizens of our community and accept our leadership role with humility and resolve." United Technologies makes similar statements about social responsibility and being good corporate neighbors.

    Sikorsky is making billions from taxpayer money and refusing to pay its fair share for the health coverage of its dedicated, skilled workforce.

    Does that sound like a socially responsible member of the community to you?

    Sikorsky wants you to believe that this is about stemming the costs of health care. It's really about corporate greed.

    If the company were serious about health care costs, it would have accepted our offers. It would have showed up last week to our negotiating session - which it completely ignored. Sikorsky is refusing to bargain in good faith. Its pleas about health care costs are just a smoke screen for its real goal - more profits!

    The 3,600 Teamsters at Sikorsky have joined the battle for the future of this country. They are fighting for a country that rewards hard work, where working families don't have to choose between going to the doctor and paying the rent, and where pensions are secure.

    Join us and take a stand for a better America. Tell Sikorsky management that their corporate greed won't fly in your community.

     

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