Contribute
CONNECT:

blog

Crumb Apocalypse Continues in Va.

Garren Shipley - February 20, 2018

The “crumb” apocalypse continues apace. Just days after we delivered delicious Valentine’s Day crumb cakes to Tim Kaine’s office, another company announces goodies for employees.
 
F&M Bank, based in Timberville, handed out $1.1 million in bonuses and donations to local charities today. 
 
 
"Employees of F&M Bank were surprised on Tuesday to learn they would receive a bonus, which the institution attributes to additional earnings expected as a result of the GOP tax plan."
 
"'This is an opportunity we haven't seen during my career, as far as cuts in corporate tax rates,' said Executive Vice President Neil Hayslett. 'Rather than just banking all that, so to speak, we wanted to share it with the employees.'"
 
"The GOP tax plan cut the corporate tax rate from 35 percent to 21 percent. Those who work more than 30 hours a week were given a one-time bonus of $1,100 and those who work less were handed $750."
 
"The Timberville-based bank also announced a special dividend to shareholders and the formation of a community fund. During a scheduled training session, the company awarded $250,000 to three community foundations."
 
F&M Bank is by no means alone. Last week First Tennessee Bank — with one location in Richmond and a massive presence in the Tri-Cities TN/VA area — announced a $15 min wage and $1,000 bonuses.
 
 
"First Tennessee Bank has raised the base wage for current employees to $15 per hour…"
 
"About 1,200 employees nationwide earning less than $15 per hour will be brought up to $15 with the new pay scale showing up in March paychecks."
 
"The bank figures the raises will increase the overall annual payroll by about $6 million. That works out to $5,000 per employee on average, although a bank official said some workers could get bigger raises if they are far below the $15-level and others could get less if they already are close to $15."
 
"The raises follow  efforts by groups across the nation pushing for $15-per-hour minimum wages, particularly for fast-food workers."
 
"First Tennessee has been preparing to raise the minimum levels for weeks, a bank official said, noting the increase was triggered by the December tax cuts enacted by Congress."
 
 "As a result of the tax cuts, First Tennessee provided $1,000 bonus payments for 70 percent of its workers and contributed $16.5 million to the First Tennessee Foundation."
 
Meanwhile, Nancy Pelosi doubled down on her crumby rhetoric on tax reform. "A banquet for everyone up here. Crumbs for people down here. I'll repeat that.
 
We have yet to hear anything from Tim Kaine about these crumbs... 
Crumbs
or any other "crumbs" Virginians are getting. I wonder why.

Previous post

ICYMI: Joe Donnelly’s Trump-Pence Hypocrisy

Next post

Conor Lamb doubles down against PA-18's best interests
Republican National Committee

Connect With Us

Republican National Committee
Chairwoman Ronna McDaniel
News & Videos
  • 310 First Street SE, Washington, DC 20003
  • 202-863-8500

By providing your phone number, you are consenting to receive calls and SMS/MMS msgs, including autodialed and automated calls and texts, to that number from the Republican National Committee. Msg&data rates may apply. Terms & conditions/privacy policy apply 80810-info.com.

Paid for by the Republican National Committee. Not Authorized By Any Candidate Or Candidate's Committee. www.gop.com

By providing your phone number, you are consenting to receive calls and SMS/MMS msgs, including autodialed and automated calls and texts, to that number from the Republican National Committee. Msg&data rates may apply. Terms & conditions/privacy policy apply 80810-info.com.

Paid for by the Republican National Committee.
Not Authorized By Any Candidate Or Candidate's Committee. www.gop.com