Labor's Last Best Weapon
What power does labor have over the portfolio companies that control their pensions?
In short: quite a lot.
In his captivating book, The Rise of the Working Class Shareholder: Labor's Last Best Weapon, David Webber (Boston University School of Law) reviews recent cases where multibillion-dollar pension funds flexed their muscles and launched shareholder actions against companies to protect their working-class contributors' interests, and details the profound impact they have had - from unseating entrenched board members at Safeway to divesting from anti-labor and gun companies.
In our webcast interview, Prof. Webber and Doug Chia (Executive Director, Governance Center) discuss:
- The strengths/weaknesses of various tools working-class shareholders can use to to effect change at companies (strikes, shareholder actions, etc.)
- Common triggers among pension funds which made them spring into action (Safeway, Home Depot. etc.)
- Ways labor should engage with their portfolio companies
- How a shift from long-termism should incorporate labor concerns
- The future for labor capital as a market force
This "Book Discussion" interview is available for you to view at your convenience by clicking on the button below.