Brad Peck over at the Chamber Post reminds me of the Teamster’s intimidating letter targeting Wall Street money managers. Reading between the lines, it reads: “It’d be a shame if we had to take our member’s multi-billion dollar pension fund elsewhere.”
But you don’t have to read between the lines to get a better understanding of why the unions’ are so desperate to pass the deceptively-named Employee Free Choice Act. Teamster boss Albert Mixon, whose union maintains billions of dollars in unfunded multi-employer pension liabilities, wrote:
Especially important to me as a trustee, EFCA would strengthen defined benefit plans by fueling broad-based economic growth and increased plan participation from newly organized union members.