Worker Station: Deutsche Bank

Posts categorized "Deutsche Bank"

STATION CASINOS IS MAKING MORE MONEY!

BUT THEY WANT YOU TO PAY MORE FOR HEALTHCARE!!

Last November, the company announced that, for the first nine months of 2012: REVENUES GREW 6% ($875 mil. to $926 mil) and OPERATING INCOME GREW 13% ($109 mil. to $124 mil.)

But, starting January 1, you have to pay more to use the Station Casinos Platinum PPO plan, with dental and vision included:

$4,224 PER YEAR — 62% MORE — FOR FAMILY COVERAGE
$1,295 — 54% MORE — FOR INDIVIDUAL COVERAGE.

The Culinary & Bartenders Union PPO plan, with dental and vision, has NO paycheck deductions for individual and family coverage.

Posted on January 25, 2013 in Benefits, Deutsche Bank, FORTUNE 100 Best Companies to Work For, Health Insurance | Permalink | Comments (0) | TrackBack (0)

Victory at the Labor Relations Board!

Largest verdict issued against Nevada Gaming Company
Stations found guilty by Washington, DC Labor Board

The National Labor Relations Board (NLRB) issued an order today completely rejecting Station Casinos’ appeal from the findings of an administrative law judge that it committed 87 unfair labor practices in its anti-union campaign against its own employees. In fact, the NLRB found two additional violations.

Posted on October 5, 2012 in Deutsche Bank, FORTUNE 100 Best Companies to Work For, National Labor Relations Board, Right to Organize, Unfair Labor Practice | Permalink | Comments (1) | TrackBack (0)

Who Does Station Casinos Love?

COMPANY INSIDERS: it paid $660 million in cash to 13 of them in the November 2007 buyout.

BANKS & INVESTORS: it has paid $698 million in cash to its lenders since the 2007 buyout.

TOP EXECUTIVES: it has paid them $40 million in compensation since the 2007 buyout.

When will YOU get the love?

Culinary & Bartenders Union workers have:

GREAT HEALTH PLAN: with no monthly premiums for the best plan in the state — with family coverage.
SECURE PENSION: which is fully paid for by employers and guaranteed by the federal government.
JOB SECURITY PROTECTIONS: guaranteed workweek, seniority rules, and protections when work is subcontracted out or when the entire casino is sold.

Posted on July 3, 2012 in Benefits, Company Insiders, Deutsche Bank, Job Security, Pension | Permalink | Comments (0) | TrackBack (0)

APALA Passes Resolution to Support Station Casinos Workers!

A RESOLUTION TO SUPPORT WORKERS AT STATION CASINOS

WHEREAS, workers at ten Station Casinos hotel-casinos in Las Vegas are seeking to join a union in order to secure a better future for themselves and their families; and

WHEREAS, on February 19, 2010, the Station Casinos Organizing Committee presented the company with a petition that stated, in part: “We demand that Station Casinos Ownership and Management respect our signatures and agree to a fair process for us to decide whether to have union representation without management interference and intimidation;” and

WHEREAS, Station Casinos has responded with an aggressive and harsh anti-union campaign that has included alleged threats, intimidation, interrogation, surveillance, bribery, discouragement, discrimination, and discipline against workers who were engaged in legally protected union activities; and

WHEREAS, the National Labor Relations Board has issued complaints of 201 Unfair Labor Practice Charges against Station Casinos; and

WHEREAS, over eighty percent (80%) of the NLRB’s charges involved Latino workers and over sixty percent (60%) involved women; and

WHEREAS, after the company’s bankruptcy reorganization, the Ownership of Station Casinos now includes Deutsche Bank and JPMorgan Chase, and the new company has retained the antiunion management team; and

WHEREAS, the Asian-Pacific American Labor Alliance has demonstrated its support for Station Casinos workers at the first-ever Las Vegas Asian-Pacific American Workers’ Rights Hearing on September 25, 2010,

Therefore, be it resolved that the Asian Pacific American Labor Alliance hereby:

Call on Station Casinos to respect the right to organize of all workers – Asian, Latino, men, women
Demand that Station Casinos stop firing Latino and other worker organizers; and
Urge Station Casinos’ Owners and Management to immediately provide employees with a fair process to decide whether to have union representation.

Submitted By the APALA Las Vegas Chapter

Adopted at the Asian Pacific American Labor Alliance, AFL-CIO 11th Biennial Convention on Sunday, July 23, 2011.

Thank you, APALA!

Posted on August 31, 2011 in Deutsche Bank, National Labor Relations Board, Right to Organize, Station Casinos fired Latinos, Unfair Labor Practice | Permalink | Comments (0) | TrackBack (0)

Paying More Money to “America’s Foreclosure King”?

Many of our readers already know that, coming out of the Chapter 11 bankruptcy, Station Casinos, aka Wall Street Stations, will give significant ownership stakes to Deutsche Bank and JPMorgan Chase. These Wall Street banks will also get paid hundreds of millions of dollars over the next few years by the company because they will continue to hold significant debt over the company. All this money going to Wall Street is money not being used to pay Station workers here in Las Vegas.

But, did you know that one of these banks, Deutsche Bank, has already got $11.8 billion of U.S. taxpayers money through the AIG bailout and is also considered “America’s Foreclosure King” because it owns millions of foreclosed properties across America? Find out more at the new website, www.deutschebunk.info.

Find out more at www.deutschebunk.info

Posted on September 10, 2010 in Bankruptcy, Deutsche Bank, Reorganization | Permalink | Comments (0) | TrackBack (0)

Wall Street Stations

THEY’VE TAKEN THEIR SHARE...Station Casinos will tell you it’s time to celebrate now because it is coming out of bankruptcy soon. It is indeed time to celebrate for some people.

STATION EXECUTIVES will not have to give back the hundreds of millions of dollars they got from the 2007 buyout that caused the company to go bankrupt. And they will most likely keep their jobs even after the bankruptcy reorganization.

THEIR WALL STREET BACKERS — Deutsche Bank and JPMorgan Chase — will not give back the hundreds of millions of dollars in interest payments they have collected from Station since the buyout. And, after the bankruptcy reorganization, they will own half the company and continue to collect hundreds of millions of dollars in interest from Station!

...IT’S OUR TURN NOW! WE WANT WHAT UNION CASINO WORKERS IN LAS VEGAS HAVE!

GUARANTEED RAISES. We haven’t gotten a raise from Station Casinos for three years now. On the Strip, Union housekeepers got a total raise of over $1.20 per hour and Union food servers got more than $0.60 an hour since we got our last raise.
GENEROUS HEALTH CARE PLAN. No paycheck deductions to cover you, your spouse, and your children through the largest network of providers in Las Vegas. Domestic partners covered. Pre-existing conditions covered. Includes dental, vision, and prescription benefits, with a free pharmacy. Even part-time workers are covered.
GUARANTEED PENSION. No paycheck deductions. You’re paid a pension no matter how long you live. Benefits are paid for entirely by your employer and are guaranteed by the government. In addition, you can add to your retirement income by investing in your own 401(k).
JOB SECURITY. The company cannot get rid of your job by replacing it with an outside company like Station did with its coffee shops and uniform rooms.

Posted on August 7, 2010 in 2007 Buyout, Bankruptcy, Company Insiders, Deutsche Bank, Health Insurance, Job Security, Pension, Reorganization, Subcontracting | Permalink | Comments (0) | TrackBack (0)

What Is Station Casinos Waiting For?

Why has Station Casinos not treated employees like you as well as it has treated its top executives and Wall Street banks? What are they waiting for?

STATION CASINOS HAS PAID THE FERTITTAS AND OTHER EXECUTIVES WELL.

In 2007, Station Casinos paid the Fertitta family and other top executives $660 million in a Wall Street-funded “buyout.” Top executives continue to be paid millions of dollars a year while the company has suffered billions in losses since 2007.

STATION CASINOS HAS PAID ITS WALL STREET BANKERS WELL.

The company borrowed from Wall Street to fund its 2007 buyout, paying millions in fees to its bankers and lawyers. And since 2007, it has paid its Wall Street creditors — primarily Deutsche Bank and JPMorgan Chase — nearly $900 million in interest. The company has said that it will pay Deutsche Bank and JPMorgan Chase at least another half a billion dollars over the next four years.

HERE’S WHAT STATION CASINOS HAS DONE FOR YOU:

Station Casinos has not given you a raise in three years. Union workers on the Strip have got big raises over the same period. Union housekeepers got a total raise of over $1.20 per hour and Union food servers got more than $0.60 an hour since you got your last raise.

Station Casinos stopped paying for your 401(k) match. Union workers on the Strip continue to enjoy a pension that is fully paid for by their employers.

Station Casinos raised your cost of healthcare. Union workers on the Strip still do not have to take anything out of their paychecks to pay for PPO health coverage for their families because the employers pay for it.

Station Casinos has subcontracted out hundreds of jobs to low-pay outside restaurant companies. Union workers on the Strip are protected by their contract against losing their jobs to subcontracting.

IT’S ABOUT TIME STATION CASINOS GAVE YOU A RAISE AND STARTED TREATING YOU WITH RESPECT!

Posted on July 25, 2010 in 2007 Buyout, Bankruptcy, Company Insiders, Deutsche Bank, Job Security, Reorganization | Permalink | Comments (0) | TrackBack (0)

Station Casinos workers win the support of casino workers around the world!

At its annual meeting held on June 22-23, the UNI Gaming Global Union passed a resolution supporting Station Casinos workers in their fight to win a better future for themselves and their families. UNI Gaming is an alliance of casino workers around the world. It represents 44 trade unions and 138,000 workers throughout the U.S., Latin America, Europe, Asia-Pacific, and Africa. Here is the resolution:

Resolution of UNI GAMING CONFERENCE

Nyon (Switzerland), June 22-23, 2010

Whereas, Station Casinos workers have formed an Organizing Committee to exercise their right to join a union, a right that is promulgated in the Universal Declaration of Human Rights and protected by the laws of the United States of America; and

Whereas, on February 19, 2010, the Station Casinos Organizing Committee presented the company with a petition that stated, in part: “We demand that Station Casinos Ownership and Management respect our signatures and agree to a fair process for us to decide whether to have union representation without management interference and intimidation;” and

Whereas, Station Casinos responded to Station workers’ organizing campaign with an intense and vicious anti-union campaign; and

Whereas, on May 28, the U.S. government agency in charge of enforcing labor laws issued a 127-count unfair labor practice complaint against Station Casinos, alleging that managers, supervisors, and security guards used threats, intimidation, interrogation, surveillance, bribery, discouragement, discrimination, discipline and physical assault against workers who were engaged in legally protected union activities; and

Whereas, as a result of Station Casinos’ bankruptcy reorganization, Deutsche Bank, JPMorgan Chase, and Fertitta Gaming will become the owners of four and potentially more of the company’s properties where workers are organizing; and

Whereas, as a result of the company’s bankruptcy reorganization, other new owners and managers could come to own and operate some of the company’s properties where workers are organizing,

Therefore, be it resolved that UNI GAMING UNION hereby:

Demand that Station Casinos immediately cease all illegal anti-union activities; and

Demand that Station Casinos respect workers’ right to organize freely under U.S. law; and
Call on UNI GAMING affiliates to engage in a global campaign to support Station Casinos workers’ right to organize; and
Call on Deutsche Bank, JPMorgan Chase, Fertitta Gaming and any other future owners and operators of Station Casinos properties to respect their employees’ right to organize everywhere and anywhere as promulgated in the Universal Declaration of Human Rights.

Posted on July 21, 2010 in Deutsche Bank, Right to Organize | Permalink | Comments (0) | TrackBack (0)

Wall Street Is Taking Over. Are You Ready?

In 2007, Wall Street megabanks Deutsche Bank and JPMorgan Chase made a $2.5 billion mortgage loan to fund the Station Casinos “buyout,” with $660 million going directly into the pockets of Station insiders. Now, Station Casinos is bankrupt and the insiders are not giving back their buyout take, so....

These Wall Street banks are getting ready to foreclose on their loan and take over Red Rock, Palace, Sunset, and Boulder.

These will not be the Fertittas’ casinos anymore.

But because Wall Street bankers don’t know how to run casinos, they have picked Fertitta Gaming LLC to run the casinos for them under a management agreement, which will pay a small fee. The banks have also “insisted” that the Fertittas become minority owners so that they will be motivated to do a good job running the casinos for the banks.

Still, these Wall Street banks are not satisfied.

Even after the foreclosure, these four casinos will continue to owe $1.6 billion to the banks, which means they will have to pay about $50 million a year in interest to Wall Street.

All this money going to Wall Street is money that will not go to you. It will not go toward giving you a raise, paying for your and your family’s health care, paying for your retirement, or giving you more hours so you can actually qualify for benefits. And if these casinos cannot pay its debt again, workers could suffer even more cutbacks and there could be another bankruptcy filing.

Station Casinos’ other properties and assets will be put up for sale, after the bankruptcy judge decides on a set of fair auction procedures, likely at the June 10 hearing. Deutsche Bank and JPMorgan have expressed an interest in bidding on these other casinos, too.

What is Deutsche Bank?

received $11.8 billion of U.S. taxpayers’ money through the AIG bailout (Bloomberg, 3/15/09).
has the third largest number of foreclosed homes in Clark County (Las Vegas Sun, 1/22/10).
had the most foreclosures in Cleveland, Ohio (BBC, 1/5/07).
was responsible for most number of evictions (17%) in Massachusetts (Huffington Post, 9/9/09 ).
is under “preliminary criminal probe” by federal prosecutors for allegedly misleading investors about mortgage-bond deals (Wall Street Journal, 5/12/10).

What is JPMorgan Chase?

is under “preliminary criminal probe” by federal prosecutors for allegedly misleading investors about mortgage-bond deals (Wall Street Journal, 5/12/10).
is under civil/criminal investigation for alleged illegal trading in silver (New York Post, 05/16/10).
is allegedly part of a municipal bond bid-rigging conspiracy, where “Wall Street’s biggest banks were cheating cities and towns during the same decade in which they were setting the stage for a global economic collapse” (Bloomberg, 5/18/10).

Posted on May 25, 2010 in 2007 Buyout, Bankruptcy, Deutsche Bank | Permalink | Comments (0) | TrackBack (0)

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