The $1.5 billion in fees the state of New Jersey paid to Wall Street pension fund managers over the past five years was an unwise use of taxpayer money, concludes a nationally known investment expert who analyzed pension investment returns and fund management fees.
The independent report by finance and investment expert Jeff Hooke of Maryland was released Thursday at a Senate Legislative Oversight hearing examining New Jersey’s increased investment in hedge funds and equity funds and the 300 percent increase in management fees paid to Wall Street firms since 2010 to manage those investments.
We encourage all affiliated unions to consider sponsoring members to participate in the upcoming national AFL-CIO Regional Organizing Institute in Philadelphia, PA. This 3-day basic organizing skills training provides a framework of fundamental knowledge for both new and experienced organizers. Topics include one-on-one communication skills, moving workers to take action, leadership ID and development, and internal/external organizing techniques.
Find details for the training below along with registration and lodging information HERE.
People all over the country will be calling members of Congress on June 3, 2015, to let them know that working families cannot afford another bad global trade deal. Fast Track gives the president too much power to negotiate trade deals that shortchange American workers and stifle the U.S. economy.
Fast Track passed the Senate last month and is expected to be considered by the House soon. This may be our last chance to #StopFastTrack.
Don’t Wait till It’s too Late to Make Your Voice Heard
Fast Track’s fate will soon be decided by the U.S. House of Representatives. Before the vote, we need to make sure our House members hear the clear, loud, consistent voices of working New Jerseyans who oppose Fast Track.
Fast Track will negatively impact us all by providing sweetheart deals for big business while offshoring jobs and creating even larger trade imbalances with countries that don’t share our commitment to workers’ rights, fair wages or environmental justice.
New Jersey State AFL-CIO President Charles Wowkanech, U.S. Rep. Bill Pascrell, Jr. (D-NJ-09), UFCW Local 1262 President Harvey Whille and labor and community leaders from across northern New Jersey held a press conference on Thursday, May 28, 2015, to discuss the many negative consequences for communities and working families that will result if the president’s Fast Track trade negotiating power is renewed.
Controversial trade legislation passes Senate, moves to House
New Jersey State AFL-CIO President Charles Wowkanech will join U.S. Rep. Bill Pascrell, Jr. (D-NJ-09), UFCW Local 1262 President Harvey Whille and other labor and community leaders from across northern New Jersey at noon on Thursday, May 28, 2015, to discuss the potential impact of pending legislation in Congress granting fast track authority for trade deals, specifically the Trans-Pacific Partnership (TPP), on middle- and working-class families.
The New Jersey State AFL-CIO respectfully asks that you continue to support our UNITE HERE 54 brothers and sisters, who have been negotiating in good faith and whose employer cut health care coverage for workers. This dispute remains unresolved.
Our brothers and sisters at UNITE HERE 54 report that the owner of the Wyndham Garden Hotel near the state Capitol in Trenton abruptly changed the conditions of employment.
We want to publicly thank Senators Robert Menendez and Cory Booker for being among the 37 senators who opposed the Fast Track bill in the U.S. Senate on Friday.
The national AFL-CIO and the New Jersey State Federation continue to lead the fight to stop Fast Track, federal legislation that would give the President too much power to negotiate trade deals. Senators Menendez and Booker courageously stood with labor – and all working families – and bucked President Obama, who has been lobbying aggressively to gain expedited trade negotiating authority.