annenberg media ♪ annenberg media ♪ they were immigrant garment workers-- uneducated, unskilled, anderpaid. how could they fight for a living wage? after publishing over a century, the prestigious new york herald tribune closed during a strike. did the union kill the herald tribune? for 40 years, united auto worker presidents walter reuther, leonard woodcock, and douglas fraser won higher pay for their members. why in 1979 would fraser agree to take less? employers and labor unions, like buyers and sellers, try to make the best deal for themselves. labor and management: how do they come to terms? with economic analyst richard gill, we'll examine that question on this edition of economics usa. i'm david schoumacher. fewer than 1/3 of american workers are covered by union contract. but organized labor's strength at the economy's pressure points-- the big smokestack industries, the arteries of transportation and communication-- make them a force to be reckoned with. for more than 75 years, labor unions have been a fact of american economic l how did they get power? we are childn of immi

and why there was indeed many in the evacuation of passengers the progress being made in an unskilled probation and no new news about their loved ones. the families of the missing are growing increasingly frustrated. most medical qaeda has had some of them has. it's been four days in contrast sixty eight has received good news of the accidents. many of them have been staying up just seem pretty minutes away from it or whether this trip was being pushy some us anymore so this time still waiting for updates. but some spent the day of the poet's way people reaching for their family members to the rescue so while this hasn't been much new information on survivors. one of the family members of the missing x this up next. two margin of victory than a missing my brother's child. she was a very kind girl. a few months ago we bought her red jacket she was wearing at the time of the accident. that makes me so sad. we want to see her as soon as possible. but it happened. some family members have been to stop it being a little treat is to help identify bodies youth and their pond in the ocean. it

we call that unskilled. and therefore, we pay that minimum wage.st ceos are incapable of doing physical labor. they sit around with suits on all day pushing pencils. the point i'm making is anyone that works a 40 hour work week, if you work 40 hours, you should not have to be subsidized in any way, shape or form by the government. you should be able to earn a living if you work 40 hours a week regardless if it's physical labor or pushing a pencil as a ceo. >> kevin o'leary, what do you think of that? >> jesse do you think you have any right to tell a ceo what his pay should be when you don't own a single share of his company? >> no, i'm not saying that at all. i love main stream media, how you people love to put words in people's mouths. i will repeat again. i was making the point that we somehow diminish physical labor. we call that unskilled and therefore, we can pay so much less for someone who has to physically sweat and labor, digging a ditch, whatever it might be. >> i got that. look, that's a -- i understand what you're saying. >> well, then

we have an oversupply of unskilled. we have 101.4 million americans of working age who are simply not in the work force. 101.4 million. that's bureau of labor statistics, off of their website, and the numbers total this. those 16 and up that are of working age, plus those who are on unemployment today, officially signed up on unemployment. add those numbers up, 101.4 million. 1/3 of our population is of working age and not in the work force. yes, some are retired and some are handicapped and some are home makers and some of them are in school, but a whole lot of them could actually be recruited to come into the work force and produce that good or service with marketable value, increase our g.d.p., and what's the cost to our society for putting more of the people that are 101.4 million that are not in the work force? what's the cost to our society if we call -- what if we called 10 million in, what if we called 20 million in, what if we brought 30 million or 40 million of the 101.4 million in and put them in the work for

they have been traders and merchants, and the chetrahs unskilled workers. then the daleks, outside the system. we have this report in nepal. >> people in the village know what discrimination feels like. most of them, the so-called untouchedables. >> this is one of them. last december he decided to stand for elections, he and others claimed that he was responsible for conducting the elections. >> they said both candidates got the same number of votes. the 58th vote, which was on my side was invalidated. they tossed the coin which i won and decided that we would not have to draw from a hat. both the papers had defeat written on it, and i was made to draw first. >> the entire village feels betrayed. they say it's a typical behaviour, and claims the state's allocation doesn't reach them. because we are poor and illiterate they don't listen to us. majority of the students. the locals contributed money and labour ahead of the school, but have no say. the deductive parents signed a petition to have a re-election. of the 123 parents, 83 signed the petition, and the

annenberg media ♪ annenberg media ♪ they were immigrant garment workers-- uneducated, unskilled, and. how could they fight for a living wage? after publishing over a century, the prestigious new york herald tribune closed during a strike. did the union kill the herald tribune? for 40 years, united auto worker presidents walter reuther,

and at that level the relationship was a little bit different particularly among the guild and unskilled groups because they ended up competing with each other. so we need a chance to talk about which of those were the most difficult to play. >> this is an era when it wasn't uncommon for teams, where you might want to just hold onto the ball for the last double minute. and you have some really low score. so i think on the technical side of this, it is somewhat of an innervate her in terms of how we need to describe the movement that he wanted and can you talk about that? >> being so small and going to the university, as everyone was a lot taller. but we learned to play fast and quick and that is what he taught his boys. but if you are not taller or a great shooter, you have to be quick and fast. and so he was playing a fast brand of basketball quite early where people would sort of just walk. and at the time that he started, not all of the players across this. and so part of it was basically he decided to play really fast. and so he did have this and they were the biggest mexicans and an

but it's going to take a considerable period longer to reduce slack in that part of the economy, unskilled labor or people with maybe only limited job training. the unemployment rate is much higher and it takes a lot of job creation to pull those workers back in the labor market, and to cause a little tightness which will give the wage inflation, boost the stagnant wages. >> carl, thank you. >> my pleasure. >> america dodged another bullet hazard a train carrying crud oil once again derailed and burned. take a look at this spectacular team in downtown lynchburg, virginia. flames and dense black smoke filled the sky. i say we dodged a bullet, even though we're in the middle of a city with 75,000 people listen, there were no reports of casualties, but hundreds of people had to be evacuated. we do not know yet what caused the crash. it comes as the federal department of transportation creates new rules in the transportation of crud oil after a spring of derailments in the past few months. >>> new rules cannot come soon enough. there have been a glut of oil in rail shipments. fueling the boom

they take these unskilled workers and they train them. the simple fact is that an increase in minimum wage is of no benefit to a worker without a job or a job seeker without a prospect to getting a job. i want to cover that tax problem again, the inflation thing. minimum wage increases also start an inflation cycle. when some people get a wage increase then everyone has to get a wage increase to recognize those who know more, who do more are more reliable and have more skills. to pay everyone more, prices have to go up. when this happens people will make more, but they have to spend more, so they actually don't get ahead. the only one who benefits is the federal government because they get a tax increase. now, at some point someone actually has to produce more to get more. that can be done with new skills or a new idea with training. the problem we're facing is one of minimum skills, not minimum wages. the effect may be low wages but the cause is low skills. we need to address those workers who have few if any, of the skills they need to

some airlines still appear unskilled at family relations. chinese relatives of those on board wailed and protested. and learned their loved ones were lost in a text message. >> when families have a loved ones lost, you can't leave it to chance or make it up as you go along. >> reporter: four lessons with so many more in the black boxes on the bottom of the indian ocean as the locater signals start to fade. for "this week," david kerley, abc news, washington. >> and thanks to david. >>> now back to ft. hood and the latest on a shooting spree that left three soldiers dead and 16 wounded. this wednesday, a memorial service will be held here on post. meanwhile, investigators are trying to figure out why one soldier went on a rampage. pierre thomas has been tracking that part of the story. >> reporter: good morning. it increasingly appears the deadly shooting spree was done by a soldier with mental health issues who may have had a simmering resentment toward the army. a simple argument. that's all it may have taken to ignite a hail of gunfire tha

the tech revolution, the change in premium put on skilled workers versus unskilled workers.he fact there would be return on capital meaning the money you could make on wall street. and tax policy plays a role. about how the effective tax rate of the wealthiest americans has come down and down until recently it's picked up a little bit because we have cut the tax rate on capital gains, dividends, estate taxes. and all that helps the wealthy. >> what is somebody making $500,000 in new york end up paying on the state, local, and national level combine snd. >> you know, it depends on their source of income. >> let's say they get a check for $500,000. >> if they just get a check, they're going to pay close to 50%. they're paying a lot if they get a check. if they're clipping dividends or getting stock price, they're paying 20 percentage points less than that roughly. >> right. there are a lot of people that get the check at $250,000 living in manhattan paying 55% of their taxes to the federal government. they hear this talk of raising taxes and they don't know how much more they

good for import costs for manufacturers, but i do not think we will have americans going back to unskilledor. going to be very different. >> just kate more. >> michael lewis joining us. lex what should michael lewis writes his next book on? treat us. -- tweet us. ♪ >> good morning , everyone. with mia scarlet fu and adam johnson. a quick data check. . lot of data to check nymex crude goes nowhere. there is the bit on futures, doll futures up 23. likes another top executive leaves jpmorgan. another top executive leaves jpmorgan. here to tell us why this matters u.s. managinghteft, editor for " the financial times.' come and go.es this is not new. why is this a big deal? >> she is a woman in a man's world. very few that have managed to reach senior status. she has been with jpmorgan for almost three decades. that is a remarkable run. she was really at the forefront of a lot of financial innovation a couple of decades ago that bad.ht about good and very >> is this more condemnation what what she did with credit default swaps? >> nothing to do with credit default swaps. commodities business ha

fundamentally different, and that leads to a different set of policy problems, for example, what you do with unskilled male workers who are left behind. it goes beyond that. it is about a pace of innovation and a type of innovation and the labor force that is very different from what the political class -- political people and people who are intellectual tend to be old-school in the way they live their lives. they write. they read. that is not necessarily with the average person is doing today. i think people in that economy are much more attuned to that than the people who comment on it. >> i would like to push back on that a little bit because i think the 1950's and 1960's were phenomenally innovative. there was phenomenal all construction and deconstruction going on. we are much less innovative now than we were in many ways during the postwar. i think we are going to be even less innovative in the future because of the aging of the world. older people -- as i look at becoming 1 -- tend to be more conservative temperamentally. but there is also this thing that if you're 57 and i come to you and say

what do you do with unskilled male workers left behind. but it goes beyond that. it is about a pace of innovation, and a type of innovation and a type of a labor force that is very different. political people and intellect wals tend to be old school in the way they live their lives. they write and read. that is not necessarily what the average person is doing today. people in that economy are much more attuned toe that than the people who comment on it. >> you say what you want to say, but i am going to throw something at you. >> i want to push back on that a bit. i think the 50's and 60's were very innovative. people's lives were changing materially every year with massive improvements in the standard of living. we are less innovative now than we were in that post-war period. my thinking is we are going to be less innovative in the world because of the aging of the world. older people tend -- as i am looking down becoming one -- but they tend to be more conservative. you here is this thing and to 57, i -- you are going say give me half your savings and you have t

fundamentally different, and that leads to a different set of policy problems, for example, what you do with unskilled male workers who are left behind. it goes beyond that. it is about a pace of innovation and a type of innovation and the labor force that is very different from what the political class -- political people and people who are intellectual tend to be old-school in the way they live their lives. they write. they read. that is not necessarily with the average person is doing today. i think people in that economy are much more attuned to that than the people who comment on it. >> i would like to push back on that a little bit because i think the 1950's and 1960's were phenomenally innovative. there was phenomenal all construction and deconstruction going on. we are much less innovative now than we were in many ways during the postwar. i think we are going to be even less innovative in the future because of the aging of the world. older people -- as i look at becoming 1 -- tend to be more conservative temperamentally. but there is also this thing that if you're 57 and i come to you and say

stockholders and bondholders, we lost our shirt because they took the profits off of us to give to those unskilled union workers really weren't doing a very good job for many many years. general motors made a lousy car, that's all there is to it. this problem goes back many years even though it is about the recall and the timing. has gone but primarily around when bush left and obama came in. the quality has just deteriorated. they owe america $15 billion still. they told us you are sol as far as getting that back. host: on this issue specifically, what would you like to hear from legislators? toler: personally i like have legislators get out of the business and let what happened is happening to gm happened to them. it doesn't help, the government getting our tax dollars involved in things like this really just wastes money. michael langweiser on twitter says he is surprised that ralph nader has not been heard from. do on the republican line. caller: thanks for c-span. i think the american automobile is a passing industry now. we need to let other countries do the work now. we just inspect them. i

course, mexican americans were there the and the relationship was different among the skilled and unskilled because they ended up competing with each other. so rich were the most difficult to play. >> for those that follow basketball this is the note shot clock and it was not uncommon for teams if you had a close game you would hold onto the ball for the last several minutes you have low score games. [laughter] of the technical side he was in an innovator in terms of describing the of movement that he you wanted for his team's. >> being so small going to the university that to play quick fact if you are not taller or a great shooter you have to be fast. he played a very fast brand of basketball that's at the time not all the players could cross the midcourt. said he developed the quick game am part of that was basically because he was small he decided to play fast and he taught them to play very fast. the end of way he did have a couple of big guys the biggest mexicans anybody had seen. [laughter] 6.2 inches although the smallest centers in the cities he taught them to run fast and practice