BOSTON (PAI) - In one of the first cases affecting unions and their members to emerge from Wall Street's financial finagling, a federal appeals court in Boston gave the go-ahead to a class action suit by three union pension funds against a financial firm that cost them -- and their members - money by investing in shoddy securities, and lying.
Next in the "rising tide of world labor protest" file comes the September 29 labor actions in Europe.
Labor organizations joined 59 other groups on July 29 to unveil a mass movement to protect Social Security from an Obama administration-named deficit-cutting commission.
"Ohio is losing $58 million a year because our pensions were cut," stated Bruce Gump, president of the Delphi Salaried Retirees Committee, in testimony at a hearing of the Congressional Finances Committee in Canfield, Ohio, July 14.
"If predatory bankers can come in here and steal the pensions these workers earned, then nobody in our nation is safe!" said Jim McClellan, president of International Association of Machinists District 54.