One Nation Working Together Coalition
DEMAND THE CHANGE WE VOTED FOR
WE BELIEVE everyone deserves the opportunity to achieve the American Dream — a secure job, a safe home, and a quality education. ONE NATION seeks to transcend our superficial differences and bring us together in a common quest for equal opportunity and justice for all.
March with us in Washington, DC on 10-2-10 to create millions of good jobs, repair our immigration system, and reform Wall Street! Your voice is essential to demanding the change we voted for.
Sign up & get more info at http://onenationworkingtogether.org
The leadership for this coalition comes from 1199, the New York based hospital workers union, and the national NAACP. Other unions, including the AFL-CIO and SEIU are already involved. A growing list of community organizations is on board.
Showing posts with label jobs. Show all posts
Showing posts with label jobs. Show all posts
UAW and Rainbow Push Announce Aug. 28th Detroit March
Talking Union, Aug. 5, 2010
United Auto Workers President Bob King and Rev. Jesse Jackson announced an August 28th march to mark the beginning of a new campaign that will call on our leaders to Rebuild America by enacting policy that will unleash the skills and talent of the American workforce. Here is the statement at a July 12th press conference in Detroit announcing the march.
No group has suffered more from America’s economic meltdown than working men and women. The auto industry was decimated and workers paid the price. Urban America is in crisis and teachers, transportation workers, and all who do the hands-on work that make our cities run are the first to feel the effects of budget cuts. Unemployment continues at around 9.8%. Detroit is ground zero of this national crisis with an unemployment rate that is far higher. From December 2007 to June 2009, auto assembly and parts production accounted for 325,000 lost jobs. The auto industry has gone from a high of 1.5 million workers to 400,000 today.
In Appalachia and the Gulf, years of unenforced regulation, driven by corporate greed and government complicity, have led to needless deaths and destruction in the coal and oil fields. Our national infrastructure is crumbling–industry, education, transportation, environment–while millions of talented workers stand by, ready to stem the tide.
Poverty is on the rise. Home and church foreclosures continue to mount and student loan defaults are increasing. Our cities are under siege. Public transportation services are cut, workers laid off, but fares go up. Teachers are laid off and programs are cut as education budgets are slashed. Public housing faces cuts and we experience reverse redlining in our neighborhoods. We bailed out the predators–banks got money at 0%–while we made loans to the auto industry.
We need a plan for recovery. We need economic reconstruction. We need urban policy geared toward reindustrialization. We need fair trade policies that will even the playing field for American companies and workers and, as more and more people face greater economic need, it’s time to revive the War on Poverty.
On August 28th in Detroit, the Rainbow PUSH Coalition and UAW, along with our friends and allies, will march to mark the beginning of a new campaign that will call on our leaders to Rebuild America by enacting policy that will unleash the skills and talent of the American workforce. We will march for Jobs, Justice and Peace on the anniversary of that day in 1963 when Walter Reuther, president of UAW, Martin Luther King, Jr., president of SCLC, and other civil rights leaders joined with hundreds of thousands of Americans for the March on Washington.
Leading up to that day, marches were held around the country, building momentum for what was to be the largest civil rights rally in history. In Detroit, prior to the March on Washington, 125,000 marchers participated in the Freedom Walk led by Dr. King. At the march, King delivered his “I Have a Dream” speech for the first time before sharing it with the world in Washington. This year, a massive march has been called for October 2 in Washington.
We will begin to build momentum again right here in Detroit on August 28th.
It’s time to enact real change for working families and all America. It’s time to reverse the policies that have resulted in jobs and investment flowing out, creating economic hardship for millions of Americans. It’s time to Rebuild America with Jobs, Justice and Peace. We are calling on our national leaders to Rebuild America by focusing on:
Jobs–economic reconstruction driven by targeted stimulus, reindustrialization and trade policy that will create jobs, support manufacturing in America, and put workers first.
Justice–enforcement of the law regarding workers rights, civil rights, industrial regulation, and creation of strong urban policy, and fair and just education, economic, and health policy.
Peace–ending the ongoing wars in Afghanistan and Iraq, saving lives and redirecting the war budget to rebuilding America.
We invite all who share our commitment to march with us in Detroit on August 28th. Nothing is more important than strengthening our coalition of conscience and restoring the promise of democracy and economic justice for working families.
United Auto Workers President Bob King and Rev. Jesse Jackson announced an August 28th march to mark the beginning of a new campaign that will call on our leaders to Rebuild America by enacting policy that will unleash the skills and talent of the American workforce. Here is the statement at a July 12th press conference in Detroit announcing the march.
No group has suffered more from America’s economic meltdown than working men and women. The auto industry was decimated and workers paid the price. Urban America is in crisis and teachers, transportation workers, and all who do the hands-on work that make our cities run are the first to feel the effects of budget cuts. Unemployment continues at around 9.8%. Detroit is ground zero of this national crisis with an unemployment rate that is far higher. From December 2007 to June 2009, auto assembly and parts production accounted for 325,000 lost jobs. The auto industry has gone from a high of 1.5 million workers to 400,000 today.
In Appalachia and the Gulf, years of unenforced regulation, driven by corporate greed and government complicity, have led to needless deaths and destruction in the coal and oil fields. Our national infrastructure is crumbling–industry, education, transportation, environment–while millions of talented workers stand by, ready to stem the tide.
Poverty is on the rise. Home and church foreclosures continue to mount and student loan defaults are increasing. Our cities are under siege. Public transportation services are cut, workers laid off, but fares go up. Teachers are laid off and programs are cut as education budgets are slashed. Public housing faces cuts and we experience reverse redlining in our neighborhoods. We bailed out the predators–banks got money at 0%–while we made loans to the auto industry.
We need a plan for recovery. We need economic reconstruction. We need urban policy geared toward reindustrialization. We need fair trade policies that will even the playing field for American companies and workers and, as more and more people face greater economic need, it’s time to revive the War on Poverty.
On August 28th in Detroit, the Rainbow PUSH Coalition and UAW, along with our friends and allies, will march to mark the beginning of a new campaign that will call on our leaders to Rebuild America by enacting policy that will unleash the skills and talent of the American workforce. We will march for Jobs, Justice and Peace on the anniversary of that day in 1963 when Walter Reuther, president of UAW, Martin Luther King, Jr., president of SCLC, and other civil rights leaders joined with hundreds of thousands of Americans for the March on Washington.
Leading up to that day, marches were held around the country, building momentum for what was to be the largest civil rights rally in history. In Detroit, prior to the March on Washington, 125,000 marchers participated in the Freedom Walk led by Dr. King. At the march, King delivered his “I Have a Dream” speech for the first time before sharing it with the world in Washington. This year, a massive march has been called for October 2 in Washington.
We will begin to build momentum again right here in Detroit on August 28th.
It’s time to enact real change for working families and all America. It’s time to reverse the policies that have resulted in jobs and investment flowing out, creating economic hardship for millions of Americans. It’s time to Rebuild America with Jobs, Justice and Peace. We are calling on our national leaders to Rebuild America by focusing on:
Jobs–economic reconstruction driven by targeted stimulus, reindustrialization and trade policy that will create jobs, support manufacturing in America, and put workers first.
Justice–enforcement of the law regarding workers rights, civil rights, industrial regulation, and creation of strong urban policy, and fair and just education, economic, and health policy.
Peace–ending the ongoing wars in Afghanistan and Iraq, saving lives and redirecting the war budget to rebuilding America.
We invite all who share our commitment to march with us in Detroit on August 28th. Nothing is more important than strengthening our coalition of conscience and restoring the promise of democracy and economic justice for working families.
One in 8 U.S. households late paying or in foreclosure
Lynn Adler, Reuters, March 5, 2009
NEW YORK (Reuters) – About one in every eight U.S. households, a record share, ended 2008 behind on their mortgage payments or in the foreclosure process as job losses intensified a housing crisis spawned by lax lending practices, the Mortgage Bankers Association said on Thursday.
With unemployment at a 16-1/2-year high and rising, more borrowers will be late paying or fall into foreclosure this year, said the group's chief economist Jay Brinkmann.
"While California, Florida, Nevada, Arizona and Michigan continue to dominate the delinquency numbers, some of the sharpest increases we saw last quarter in loans 90 days or more delinquent were in Louisiana, New York, Georgia, Texas and Mississippi, signs of the spreading impact of the recession," he said.
U.S. President Barack Obama's $275 billion housing stimulus program will standardize modifications for distressed loans and pave the way for more refinancing.
That should smooth differences caused by various moratoria by states and companies that temporarily curbed the surge in foreclosures in the fourth quarter, Brinkmann said.
"But keep in mind that there are three drivers to the housing problem, and this program of course addresses mostly the first one," relating to loan structure, underwriting quality and fraud, Brinkmann said.
The two other problems still loom large -- an oversupply caused by overbuilding and foreclosures, and unemployment.
Having one in eight households late paying or in foreclosure is "unacceptable in a country like ours," said Nicholas Bratsofolis, senior managing director of structured refinance at mortgage bank LendAmerica in Melville, New York.
"Instead of wringing our hands, I think we should start utilizing the tools that the government has given to us to remedy the ills that are facing many of these homeowners," he said. The administration housing rescue won't be a quick fix, however, he added.
A record 11.18 percent of loans on one-to-four unit residences were at least one payment past due or in the foreclosure process in 2008.
The delinquency rate jumped 2.06 percentage points from a year ago to a record 7.88 percent. The share of loans in the foreclosure process leaped 1.26 percentage point in the year to a record 3.30 percent. MBA started tracking the data in 1972.
Housing has yanked down the U.S. economy growth after being a key driver of it earlier this decade. In a vicious cycle, a weakening economy is now further siphoning demand for homes.
"In a recession like this, housing is never just about housing," said Jed Kolko, associate research director at the Public Policy Institute of California in San Francisco. "Unemployment leads to foreclosures, foreclosures contribute to lower tax revenues, less consumer spending -- it's all related."
MORE STATES WITH MORE PROBLEMS
As the economy sours, more states have joined the five that had been primary trouble spots for late payments and foreclosures.
"We see New York being influenced by the layoffs that we've been seeing on Wall Street and some of the rest of the industry associated with that," he noted.
"Some of the Southern states that had construction-related unemployment, whether it was forest product or plywood manufacturing. Some of the tourism industry is now being hit, certainly in Mississippi with the casinos, and in Florida."
Subprime adjustable-rate loans and prime ARM loans still drive the late payments, but that is shifting.
"We will continue to see, however, a shift away from delinquencies tied to the structure and underwriting quality of loans to mortgage delinquencies caused by job and income losses," Brinkmann said.
Of particular concern, he said, is a sharp pickup in joblessness among people with college educations.
By the end of last year, "we saw some sharp pickups in delinquency rates with prime loans and I think that's now going to continue as long as we see unemployment continue to climb among the people most likely to own homes," Brinkmann said.
How high unemployment in that segment of the population gets and how long it stays there will "determine ultimately how long the prime fixed loan delinquencies continue to climb," he said. "Some of these people do have adequate reserves to last maybe six months or a year without a job, but the longer this thing goes on the quicker they then run through those reserves and their loans go delinquent."
(Editing by Chizu Nomiyama)
NEW YORK (Reuters) – About one in every eight U.S. households, a record share, ended 2008 behind on their mortgage payments or in the foreclosure process as job losses intensified a housing crisis spawned by lax lending practices, the Mortgage Bankers Association said on Thursday.
With unemployment at a 16-1/2-year high and rising, more borrowers will be late paying or fall into foreclosure this year, said the group's chief economist Jay Brinkmann.
"While California, Florida, Nevada, Arizona and Michigan continue to dominate the delinquency numbers, some of the sharpest increases we saw last quarter in loans 90 days or more delinquent were in Louisiana, New York, Georgia, Texas and Mississippi, signs of the spreading impact of the recession," he said.
U.S. President Barack Obama's $275 billion housing stimulus program will standardize modifications for distressed loans and pave the way for more refinancing.
That should smooth differences caused by various moratoria by states and companies that temporarily curbed the surge in foreclosures in the fourth quarter, Brinkmann said.
"But keep in mind that there are three drivers to the housing problem, and this program of course addresses mostly the first one," relating to loan structure, underwriting quality and fraud, Brinkmann said.
The two other problems still loom large -- an oversupply caused by overbuilding and foreclosures, and unemployment.
Having one in eight households late paying or in foreclosure is "unacceptable in a country like ours," said Nicholas Bratsofolis, senior managing director of structured refinance at mortgage bank LendAmerica in Melville, New York.
"Instead of wringing our hands, I think we should start utilizing the tools that the government has given to us to remedy the ills that are facing many of these homeowners," he said. The administration housing rescue won't be a quick fix, however, he added.
A record 11.18 percent of loans on one-to-four unit residences were at least one payment past due or in the foreclosure process in 2008.
The delinquency rate jumped 2.06 percentage points from a year ago to a record 7.88 percent. The share of loans in the foreclosure process leaped 1.26 percentage point in the year to a record 3.30 percent. MBA started tracking the data in 1972.
Housing has yanked down the U.S. economy growth after being a key driver of it earlier this decade. In a vicious cycle, a weakening economy is now further siphoning demand for homes.
"In a recession like this, housing is never just about housing," said Jed Kolko, associate research director at the Public Policy Institute of California in San Francisco. "Unemployment leads to foreclosures, foreclosures contribute to lower tax revenues, less consumer spending -- it's all related."
MORE STATES WITH MORE PROBLEMS
As the economy sours, more states have joined the five that had been primary trouble spots for late payments and foreclosures.
"We see New York being influenced by the layoffs that we've been seeing on Wall Street and some of the rest of the industry associated with that," he noted.
"Some of the Southern states that had construction-related unemployment, whether it was forest product or plywood manufacturing. Some of the tourism industry is now being hit, certainly in Mississippi with the casinos, and in Florida."
Subprime adjustable-rate loans and prime ARM loans still drive the late payments, but that is shifting.
"We will continue to see, however, a shift away from delinquencies tied to the structure and underwriting quality of loans to mortgage delinquencies caused by job and income losses," Brinkmann said.
Of particular concern, he said, is a sharp pickup in joblessness among people with college educations.
By the end of last year, "we saw some sharp pickups in delinquency rates with prime loans and I think that's now going to continue as long as we see unemployment continue to climb among the people most likely to own homes," Brinkmann said.
How high unemployment in that segment of the population gets and how long it stays there will "determine ultimately how long the prime fixed loan delinquencies continue to climb," he said. "Some of these people do have adequate reserves to last maybe six months or a year without a job, but the longer this thing goes on the quicker they then run through those reserves and their loans go delinquent."
(Editing by Chizu Nomiyama)
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