Selling out


Andy Stern, in a matter of months, has traveled as far as is possible from the labor movement, now toiling for a corporate raider who stands for everything labor fights against, HuffPost Hill reported today. He sits on the board or SIGA Technologies, a biowarfare company largely owned by corporate raider Ron Perelman, and was on the happy end of 25,000 stock options in June. If the HHS approves a huge contract SIGA is applying for, those options will be worth an awful lot of money. (They already are, by HuffPost Hill’s standards. But if SIGA gets the contract, they’ll be worth real money.)

But it gets worse! While Stern was head of SEIU, the union surprised the labor/capital world by endorsing the buyout of a Perelman company by the Blackstone Group. The cofounder of Blackstone is Pete Peterson, the guy waging a deficit jihad. Stern now sits on the deficit commission as one of the progressive voices. Ugh.

2 thoughts on “Selling out

  1. If you want to understand the paradox of the working class anger against unions, this is the kind of thing you should pay attention to. From the point of view of an ordinary working stiff, unions have established themselves as a kind of elite, upper class of the working class. My father hated the autoworkers unions for getting the high wages and making cars more expensive for him, and he hated the electricians union for closing its membership to a select few applicants, mostly sons of union members.

    My own experience with the FCWU is that they accepted a two tier agreement in our stores that protected only those under the “old”, pre-1990 contract, and left the rest of us starting at rock bottom minimum wage, and almost all of us as part-time. When I came back after I took a 12 week leave of absence to take care of my mother, my first paycheck was $0.00 because they deducted back union dues and insurance premiums off the top.

  2. Ugh. I’m not opposed to him making some money now that he’s out of the union movement, but biowarfare company? Ick.

Comments are closed.