>Not necessarily. There are union and state/local gov pension
>fund owners who have interests that are broader than rates of
>return. That's what this is really about.
Legally, they're not allowed to assert those broader concerns. If you're managing a pension fund, you're supposed to maximize returns, not promote unions or social concerns. Unions have sometimes tried to push an organizing agenda behind a screen of shareholder rights, but it's a ruse. I'm told the lawyers have to leave the room when the strategy is discussed, because they can't knowingly conspire to violate the law.
More broadly, what workers' organization should get behind the principle of shareholder rights? Who the hell are these shareholders, and what have they ever done for the working class except claim their uncompensated labor?
Doug