This was the scene at the First Hill Bank of America today,
Published 7:00 am Tuesday, April 28, 2009
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.
