Stab Hotel Workers in the Back with the Other
March 31, 2011
Pensions & Investments
401(k) Investment Lineup Summit, April 5, Westin St. Francis
Next Tuesday, Pensions & Investments, the magazine for institutional investors (such as union and government pension plans), will hold one of its regular conferences at the boycotted Westin St. Francis hotel. P&I and the investment banks that sponsor its conferences know that there’s a boycott. P&I even has protective language in its contract that would allow it to move the event to a non-boycotted hotel. But the conference is going ahead because P&I and its corporate sponsors don’t think twice about profiting off union members’ hard-earned pension funds while at the same time crossing union picket lines. It’s time to call foul on the hypocrisy of P&I and its sponsors.
The 401(K) Investment Lineup Summit is sponsored by Goldman Sachs Asset Management, T. Rowe Price Associates, Inc., Northern Trust Global Investments, JP Morgan Assets Management, and Vanguard. According to Lipper Marketplace, these companies invest the following amounts for union trust funds:
- Goldman Sachs – $ 10.2 Billion
- T. Rowe Price – $918 Million
- Northern Trust – $148 Million
- JP Morgan – $4.9 Billion
- Vanguard – $2.8 Million
San Francisco working families are already struggling to make ends meet in the devastating recession created by the unchecked greed of Wall Street. Now the same banks that trip over themselves trying to get their mitts on union trust funds are turning a deaf ear to their simple request that the banks honor their picket line – a request that wouldn’t cost Goldman or JP Morgan a single penny. P&I is so shameless that it’s already planning two more conferences at boycotted Starwood properties in San Francisco in the next few months.
Call shame on Pensions & Investments and its corporate sponsors for ignoring the voices of San Francisco hotel workers and enabling Starwood’s attempts to strip decent wages, affordable health care, and a secure retirement from hard-working San Franciscans . Please call Helene DeChappe at and tell her to respect working people and move the upcoming conferences to non-boycotted hotels.
permalink // tags: Hotel Customers, Repeat Offenders, Starwood, Westin St. Francis
