This week you can probably expect a big push in the media for the cynically misnamed Employee Free Choice Act (Card Check), on which I've written before. One element of that push which will be getting coverage is an article by Seth Michaels on the AFL-CIO Now blog which heralds the fact that:
A coalition of major investors who oversee more than $750 billion in assets is joining the fight for workers’ freedom to form unions by asking major corporations what they’re doing to protect and enhance the ability of workers to form unions.
Wow, that sounds pretty serious. That's a lot of investment money. It must mean that stockholders and important players on Wall Street are really concerned about making sure that unions can bully workers into joining by taking away their right to a secret ballot.
In fact, stockholders and major investment groups have not actually taken leave of their senses and decided it would be great to further burden businesses with rapacious union interference in our current harsh economy. What you actually have here is a classic example of how propagandists can use seemingly legitimate sources to support their positions, creating the impression of a popular movement or widespread support where it does not actually exist.
In the article there is a link to a press release from Domini Social Investments which further heralds this letter which has been sent to various Fortune 100 companies in support of EFCA by a group of "major institutional investors" controlling $757 billion in assets.
The effort here is to create an impression of widespread support in the financial community for Card Check. The core deception in this propaganda effort is that the letter is actually signed by a very limited group dominated by investors controlled by or closely associated with the unions promoting the legislation. The major signers of the letter are actually mostly international union pension funds or organizations representing union pension fund managers. Also signing the letter are a variety of specialty investment groups which invest in "socially responsible" businesses (unionized businesses), but they control only a small fraction of that $757 billion in assets and they are on the list mainly as a smokescreen for the union-controlled investment groups who hold the vast majority of the assets referred to.