The Rise of the Working-Class Shareholder

Labor’s Last Best Weapon

Business & Finance, Business Reference, Corporate History, Finance & Investing, Investments & Securities
Cover of the book The Rise of the Working-Class Shareholder by David Webber, Harvard University Press
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: David Webber ISBN: 9780674919471
Publisher: Harvard University Press Publication: April 2, 2018
Imprint: Harvard University Press Language: English
Author: David Webber
ISBN: 9780674919471
Publisher: Harvard University Press
Publication: April 2, 2018
Imprint: Harvard University Press
Language: English

When Steven Burd, CEO of the supermarket chain Safeway, cut wages and benefits, starting a five-month strike by 59,000 unionized workers, he was confident he would win. But where traditional labor action failed, a novel approach was more successful. With the aid of the California Public Employees’ Retirement System, a $300 billion pension fund, workers led a shareholder revolt that unseated three of Burd’s boardroom allies. In The Rise of the Working-Class Shareholder: Labor's Last Best Weapon, David Webber uses cases such as Safeway’s to shine a light on labor’s most potent remaining weapon: its multitrillion-dollar pension funds. Outmaneuvered at the bargaining table and under constant assault in Washington, state houses, and the courts, worker organizations are beginning to exercise muscle through markets. Shareholder activism has been used to divest from anti-labor companies, gun makers, and tobacco; diversify corporate boards; support Occupy Wall Street; force global warming onto the corporate agenda; create jobs; and challenge outlandish CEO pay. Webber argues that workers have found in labor’s capital a potent strategy against their exploiters. He explains the tactic’s surmountable difficulties even as he cautions that corporate interests are already working to deny labor’s access to this powerful and underused tool. The Rise of the Working-Class Shareholder is a rare good-news story for American workers, an opportunity hiding in plain sight. Combining legal rigor with inspiring narratives of labor victory, Webber shows how workers can wield their own capital to reclaim their strength.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

When Steven Burd, CEO of the supermarket chain Safeway, cut wages and benefits, starting a five-month strike by 59,000 unionized workers, he was confident he would win. But where traditional labor action failed, a novel approach was more successful. With the aid of the California Public Employees’ Retirement System, a $300 billion pension fund, workers led a shareholder revolt that unseated three of Burd’s boardroom allies. In The Rise of the Working-Class Shareholder: Labor's Last Best Weapon, David Webber uses cases such as Safeway’s to shine a light on labor’s most potent remaining weapon: its multitrillion-dollar pension funds. Outmaneuvered at the bargaining table and under constant assault in Washington, state houses, and the courts, worker organizations are beginning to exercise muscle through markets. Shareholder activism has been used to divest from anti-labor companies, gun makers, and tobacco; diversify corporate boards; support Occupy Wall Street; force global warming onto the corporate agenda; create jobs; and challenge outlandish CEO pay. Webber argues that workers have found in labor’s capital a potent strategy against their exploiters. He explains the tactic’s surmountable difficulties even as he cautions that corporate interests are already working to deny labor’s access to this powerful and underused tool. The Rise of the Working-Class Shareholder is a rare good-news story for American workers, an opportunity hiding in plain sight. Combining legal rigor with inspiring narratives of labor victory, Webber shows how workers can wield their own capital to reclaim their strength.

More books from Harvard University Press

Cover of the book Uncle Sam’s Policemen by David Webber
Cover of the book The Chance of Salvation by David Webber
Cover of the book Madison’s Hand by David Webber
Cover of the book Rethinking Patent Law by David Webber
Cover of the book Thinking Off Your Feet by David Webber
Cover of the book Governing Behavior by David Webber
Cover of the book Mughal Arcadia by David Webber
Cover of the book Making Sense of Science by David Webber
Cover of the book The Promise of Party in a Polarized Age by David Webber
Cover of the book Bilingual by David Webber
Cover of the book One Another’s Equals by David Webber
Cover of the book Literary Criticism by David Webber
Cover of the book Freedom and the Arts by David Webber
Cover of the book Political Violence in Ancient India by David Webber
Cover of the book How Judges Think by David Webber
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy