Oh-Oh.There's trouble in River City (from the Music Man.) There is fight brewing over proposed labor law revisions giving workers bargaining rights based on signing cards instead of winning a secret ballot election. Senator Tom Harkin is the sponsor of a bill that would make these changes law.
Now enter the billionaires that supported President Obama's campaign. Even the President's finance chairperson, Penny Pritzker, who is a director of the Global Hyatt Corp., is opposed to the bill. Neil Bluhm, a partner in Walton Street Capital, LLC and Lester Crown, chairman of Henry Crown & co. voiced their criticism of the measure. Now here's a sledge hammer: the US Chamber of Commerce plans to spend $20 million dollars this year advertising and lobbying to block the card check rule.
William Samuel, the AFL-CIO legislative director is confident that he will muster the 60 votes needed to pass the bill. Labor unions represent about 7.6% of private sector workers down for 35% in the 1950's.
So stay tuned, we'll have more information as these scenarios start floating about in Congress.
Would you favor this bill?
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Reader Comments (Page 1 of 1)
5-07-2009 @ 3:29PM
Mike said...
Card check, while it benefits the special interests who donated heavily to Bam, would crush the economy.
5-07-2009 @ 3:40PM
required said...
You should rephrase as "Some Obama supporters oppose..." this way it would be factual and no longer misleading.
5-07-2009 @ 6:00PM
estrellafin said...
A highly socialistic move to disregard the capital investment, to limit the ability to focus company energies to new developments and to cause an increased cost of labor. Unions have their place, in history and from my point of view, there is no future. Better means have evolved to garner loyalty and job security.
5-07-2009 @ 9:12PM
william lindblad said...
On a Saturday in May of 1881 a congressman took the floor to deliver a speech. In essence it was the precursor to the better known McKinley trade and tariff but it also included a position on labor and the necessity and benefits of a good wage. This is the first call for a middle class in the U.S. The speaker skillfully pointed out why this is a requirement for a solid economy, based mainly on production and demand. Great speech and idea, but it took the unionization of this country to make it happen. Unions came to be because of bad and greedy management. Given the present state of affairs - does anyone think that executive thinking has changed much?
Unions have probably outlived their usefulness and something better should have evolved like enlightened and benevolent management, but it hasn't. So, the decision process is left to government and they have a bad track record.