SEIU Protests at First Hill Bank of America
This was the scene at the First Hill Bank of America today, as 40 or so SEIU members converged to protest the BoA's policies and collect "shareholder proxy votes" (signed postcards that can't be actually be counted as ballots). Since the distribution of $45 billion in bailout funds to the BoA, says SEIU spokesperson Linnae Riesen, "taxpayers are the biggest shareholders" in the bank.
Citing the bank's lending practices, pay rates for its tellers, and distribution of $5.2 million in bonuses last year, the SEIU says it wants BoA to fire CEO Ken Lewis, lower its fees and interest rates, and stop opposing the Employee Free Choice Act, the Democratic-sponsored (and Republican-opposed) legislation that would make union organizing easier by getting rid of the requirement for company-controlled balloting and authorizing a union as soon as a majority of employees sign cards saying they want one. (Related note: Despite his party switch, Arlen Specter said he still opposes the legislation.)
Bank of America tells the Charlotte Business Journal that it hasn't taken a position on the legislation, though some industry groups it contributes to are lobbying against it. The CBJ article also takes a skeptical look at the other SEIU claims.
A copy of the ballot can be found here. The SEIU plans to present the proxy votes at tomorrow's BoA corporate meeting, which should also feature some fun given "$35,000" John Thain's claim that BoA signed off on the much-maligned Merrill Lynch bonuses.
4 comment(s)
michael biskar says:
Here is a short, inspirational video of the Indianapolis hotel workers' struggle for justice:
http://www.youtube.com/watch?v=exBtVnZaWUk
Posted On: Tuesday, Apr. 28 2009 @ 9:25PM
Tom says:
I counted 61 protesters who went into the BOA lobby and more outside. It was a great opportunity to present to BOA a "shareholders" statement of concerns -- new leadership at BOA, use the taxpayer funds for new loans, reduce foreclosures, and improve pay and benefits for tellers.
Posted On: Wednesday, Apr. 29 2009 @ 8:48AM
Damon says:
It's certainly possible I under-counted.
Posted On: Wednesday, Apr. 29 2009 @ 4:22PM
donniebrook says:
Bank of America is a thoroughly odious institution that rips off its customers with absurd fees on just about every sneeze and hiccup. Time for the Swedish solution, Mr. Prez! We the People have already paid for this finance monster, along with its odious cousins -- let's assume ownership and stop the ripoffs.
Posted On: Thursday, Apr. 30 2009 @ 1:04PM