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Rating:AFL-CIO Plan March Against Fund Firms Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, January 26, 2005

AFL-CIO Plan March Against Fund Firms

by: Sean Hanna, Editor in Chief

Fidelity and other Boston-based asset managers are once again being targeted by the AFL-CIO. Officials for the union told the Boston Herald that they were planning a noon rally at the downtown Boston offices of Fidelity Investments, Putnam Investments and State Street Bank.

The union is demonstrating against the Bush administration's plans to add individual accounts to the Social Security system.

"The objective is to convince these firms to stop lobbying for this," said Rich Rogers, executive secretary-treasurer of the Greater Boston Labor Council told the paper. "Privatizing Social Security may be good for them, but it's bad for the American people."

Rogers added that while the union is "going after the industry generically," it "may surprise people and walk over to one of the firms."

The GBLC represents 125 local unions. Union officials said they expected roughly 100 members to take part in the demonstration. The union also invited Secretary of State William Galvin to take part in the rally.  

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