One of the reasons for Big Labor’s cash crunch is that its pension funds that have been so grossly mismanaged many are close to failing. A number of the SEIU's pension funds are so under-funded that they are categorized by the Department of Labor as “critical” or “endangered.” These new and near desperate organizing drives are part and parcel to an effort feeding a self-destructive cycle whereby you add more dues-paying workers into a pool to prop the funds up, but continue the mismanagement and losses.
The truth has been a casualty of these misinformation campaigns, which attempt to portray many employees at these retail or fast-food chains as disgruntled and therefore protesting. But on Black Friday, as mentioned, few of the so-called protesters were actually Walmart employees and media outlets are already reporting that labor bosses are also planning to pay those who protest at the fast-food chains this week.
Big Labor’s effort, if successful, will result in many workers losing their entry-level jobs depriving them of the opportunity to prove themselves and move on to better-paying work and management experience.
The sad truth is that these union-organized protests, whether it is this week’s fast-food chain demonstrations or last week’s Black Friday activities, are about growing the labor membership base to collect more dues, not improving the well-being of workers.
Bernie Sanders and Robert Reich Are Confused by Economics. And Government. And Reality | Seton Motley