On this day in 1978, United Steelworkers union workers in Sudbury, Ontario voted to go on strike to fight proposed layoffs and pay cuts. The strike was the longest in Canadian history until the record was broken by Sudbury workers in 2009.
The layoffs and cuts to pay and benefits were at the multi-national company Inco, which cited low nickel prices as a justification.
According to filmmaker Martin Duckworth, workers voted to strike against the advice of the United Steelworkers hierarchy, and the strike enjoyed national support because Inco was a known polluter and one of the biggest multi-nationals in Canada.
Around 11,600 workers were involved in the strike, which affected the wages sustaining 43,000 people, or about 26% of the population of metropolitan Sudbury. By the end of the strike, nine months later, the company had been deprived of over twenty-two million hours of labor.
The workers won small wage increase and a pension package, however thousands of workers lost their homes and cars because of the length of the strike. According to journalist Amy Miller, since 1979, INCO has fired 20,000 employees from their staff and now have more people receiving payments from the pension roll than pay roll.
The role of women in the community during the strike was profiled in the 1980 documentary film A Wives' Tale (Une histoire de femmes).
All Out to Support Striking Vale Inco Workers!
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My credit utilization dropped by 22% but my score went down by 3 points
Make it make sense
Having high use of credit that you regularly service gives you a better credit score. This is because bankers deserve to die.
Credit score is based on how profitable one is to the private financial markets. So, reducing your use of credit can make you look less profitable to loan to.
EDIT: You also checked your credit score, which penalizes your credit score.
The services I'm doing make soft inquiries not hard inquiries so there's no credit score impact. Plus lenders want a lower (though still present) utilization so they can get their interest without worrying about not getting the principal back if you go belly up.
My total debt did increase by 1.4% in the same timeframe which seems proportional to the score decrease. I guess the new utilization ratio just hasn't been fully factored in yet
Fair enough. It looks like you're a lot more keyed in than me.
Using a throwaway email address to make a FICO smurf account
I don't mean to go off on a rant here, but does anyone else think credit scores are just competitive pvp ranks for the bogelhead generation?
yes