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The Conservative Reform Network
The Newsletter for Independent, Conservative Political Activists

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Conservative Reform Network

Union Workers go to Wall Street

Pensions Lose

Union Organizers Win

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Dear Lowman,

Union treasuries are 'underwater'. If there were not a double standard for Union Organizers and Wall Street financiers who make the economy grow, the Union Organizers who have the power and the money would be reviled as any Goldman Sachs financial genius. The Unions 'invested' in an Obama Victory and they are being paid well: General Motors and Chrysler for openers and it appears while others will have health benefits taxed, the Unions have engineered special treatment for themselves as heroine of the Republic Kimberly Strassel points out.

In Pennsylvania "Prevailing Wage" and anti-competitive bidding Project Labor Agreements laws limit employment opportunities for workers willing to work and hammer The Forgotten Taxpayer.

You can view more posts on my blog.

Union Workers Go To Wall Street

It seems that Union Organizers are planning to do to Wall Street Pension Investment funds what they did to Chrysler and General Motors.

Ben Smith's Politico reports that :The labor movement is taking square aim at Wall Street with a new tool in its fight to pass the Employee Free Choice Act: the hundreds of billions of dollars in pension funds it manages for union workers and retirees, some of it held by the same firms that are fighting the provision known as "card check."

American Thinker interprets "To paraphrase: "Nice little investment fund you've got there. Be a shame if anything happened to it."

Pension funds are accompanied by a fiduciary duty. Their custodians must invest them in the financial best interests of the owners, the pension holders. Of course, if you presume that the federal government will bail out any shortfall, then it makes sense to use them for political blackmail.

Once again the basic question: do unions serve the interests of their members, or the interests of the union bosses? "

Worker Pension Funds Lose - Organizers Win

Indiana Treasurer Richard Mourdock revealed this week that his state's police and teacher pension funds have lost millions of dollars in the Chrysler "restructuring." Indiana's State Police Fund and Major Moves Construction Fund, which finances roads and bridges, together lost more than $1 million. And the Teacher's Retirement Fund "suffered, at a minimum, a loss of $4.6 million due to the action of the Federal government," reports Mr. Mourdock.

Union Organizers Win - Part II

GM, UAW Reach Crucial Cost-Cutting Pact

In order to protect the union's retiree health-care trust, the company has to be profitable which means more competitive work rules and lower wages for younger workers. Younger and newer workers (and The Forgotten Taxpayer)were sold out for veteran workers and retirees. Someone had to pay and it wasn't going to be the Union Organizers or the Political Class.

Will those wages be competitive to keep workers working at GM or will they migrate to lower tax states, with fewer unions, where there is more work and higher wages for workers? There are some inexorable laws of economics that work slowly but irresistibly. How long does GM remain viable and how safe is the retiree health-care trust?

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