Social Investment Funds Back Labor Union Organizing Measure

[Omaha Steve]

http://www.bloomberg.com/apps/news?pid=20601103&sid=aITL6dFsvEMM&refer=us

By Holly Rosenkrantz

May 11 (Bloomberg) -- A group of mutual and pension funds that invest in social causes is urging Congress to support legislation that would make it easier for workers to join unions.

The 26 funds, led by Domini Social Investments, Progressive Asset Management Inc. and Merseyside Pension Fund, sent a letter to lawmakers saying that business opposition has damaged the prospects for the Employee Free Choice Act, known as the card- check bill. The group of investors says they represent $372 billion in assets.

“The business community has come out really aggressively against this bill, but not all businesses or investors are unified in their thinking,” Adam Kanzer, managing director of Domini, said in an interview.

The legislation, organized labor’s top goal for the year, would allow workers to chose to form a union when a majority sign cards requesting one, bypassing secret-ballot elections that employers often require before unionization occurs.

The U.S. Chamber of Commerce, the nation’s largest business lobbying group, has vowed to spend $20 million this year to kill the bill. Other business-backed organizations and individual companies, such as Wal-Mart Stores Inc., oppose the measure.

FULL story at link.