With the inauguration of President Barack Obama, our nation and the world can take a collective sign of relief that the Bush Administration is finally over and a new era opens for the American people.
We entered 2008 with great expectations of change. We begin 2009 with confidence that President Obama will restore the unique values that make America a beacon of hope, opportunity and freedom to the rest of the world.
I have lived the American Dream and believe everyone should have the same opportunities I have had. I started as an agent for American Income Life at age 23, about 33 years ago. After 33 years of blood, sweat and tears, I rose to the top of my company and now I have the initials CEO after my name.
Quite candidly, I am embarrassed by the greed and the arrogance that seems to go along with those initials these days.
The title CEO was once an honorable leadership position: upholding the moral commitment of a responsible employer and being accountable for the financial responsibilities and obligations of the company.
But far too many CEOs today have used the position to plunder assets, bankrupt pensions, negate collective bargaining agreements and steal from each and every shareholder. It is greed and arrogance, pure and simple, when CEO's take tens of millions of dollars directly from the pockets of workers and shareholders.
A combination of shortsighted profit, lack of transparency, unregulated free markets and the irresponsible disregard for the collective good have threatened the American Dream for millions of working families and all but destroyed the middle class.
These failings resulted in hundreds of billions of dollars from taxpayers in bailouts, while people like Senator Robert Corker of Tennessee have the audacity to scapegoat the American worker.
I was outraged by Sen. Corker's vicious attacks on the wages and benefits earned by the members of the United Auto Workers. He waged class warfare against the very people who make products and add value to our nation. He and others like him blamed the victims for the poor judgments and mistakes of the CEOs.
Their actions are nothing more than an attempt by anti-union demogogs to use the economic crisis to force a race to the bottom in the living standards of working families. Sen. Corker and his fellow travelers stooped to a new low in sacrificing the nation's recovery to their anti-union hatred. The business community must step up to be a voice of reason in this economic crisis. As CEO of a 100 percent union insurance company, I feel a unique responsibility to show by example that you can have a business model based on shared prosperity.
American Income Life Insurance Company (and our subsidiary National Income Life Insurance Company) shows that it is possible to make a profit during these tough economic times and to share this prosperity with our employees and shareholders.
The final numbers are not in yet, but 2008 will be a record-breaking year for AIL/NILICO with $100 million in net life premiums. How did we accomplish this feat when so many companies in the financial industry barely survived?
We hired more people, put more money directly into their pockets, increased their benefits and provided more opportunity for personal growth. An $11 million company bonus program, for example, paid directly to agents on a weekly basis made a direct link between performance and reward. The result was a record-breaking 18% increase in sales.
Going into 2009, AIL/NILICO is in a strong financial position supported by stable earnings, strong cash flow and a committed union-represented workforce.
While other companies are laying off workers, AIL/NILICO is hiring more people. We now have around 3,000 agents today, an increase from 2,545 in January 2008.
AIL/NILICO is doing our part to rebuild America's middle class. When we make a decision, it must be good for policy holders, our union workforce and our share holders. That's shared prosperity in action.
I agree with President Obama that now is the time for big plans and bold actions. Those big plans and bold actions must incorporate rebuilding a healthy and robust middle class in America.
Strong unions created and maintained America's middle class. The most important thing Congress can do in 2009 to create shared prosperity for all workers is passage of the Employee Free Choice Act.
The Employee Free Choice Act will do just that by guaranteeing the right of workers to join the union of their choice free from employer harassment and intimidation. To that end, AIL/NILICO intends to take a leadership role as a voice of reason in the business community in support of this vital legislation. We are proud to be a corporate leader backing the Employee Free Choice Act.
We will urge, inspire and recruit other like-minded responsible businesses and business leaders to speak out and join with us to make the Employee Free Choice Act the law of the land.
I am also proud that in AIL the initials CEO stand for leadership of a company that is committed to our communities, creating good jobs and shared prosperity.
We are honored to celebrate a new beginning in 2009 with our partners in labor knowing we can all make a difference in the lives of working families.
