Are Pensioners Behind The Export of American Jobs?
I’m 60, and I’m certainly NOT in favor of exporting American jobs. But then again, I don’t have any funds invested in these Major Holders [like FMR-Fidelity], either. However, I’m beginning to wonder about others? Today’s article from Chattanooga, La-Z-Boy, Whirlpool Moving Hundreds Of Jobs To Mexico, does make me question what’s going on here. La-Z-Boy and Whirlpool are moving jobs to new plants in Mexico, bringing job losses to hundreds of workers in Dayton and Cleveland. La-Z-Boy employees in Dayton were told today that the cutting and sewing operation is being moved to Mexico. If pension funds are financing these moves (through FMR-Fidelity and other Major Holders), isn’t that like eating your children’s seed corn? Looking back at the sordid history of Levi Strauss’s operations in America, that causes me to think that La-Z-Boy and Whirlpool might be heading down that same road, The company [Levi Strauss] took on multi-billion dollar debt in February 1996 to help finance a series of
