Saturday, March 15, 2014

Today in Labor History

Official formation of the Painters Int’l Union - 1887
Supreme Court approves 8-Hour Act under threat of a national railway strike - 1917
Bituminous coal miners begin nationwide strike, demanding adoption of a pension plan - 1948
The Wall Street Journal begins a series alleging insider stock deals at the union-owned Union Labor Life Insurance Co. (ULLICO). After three years a settlement was reached with Robert Georgine, a building trades leader serving as ULLICO president and CEO, requiring him to repay about $2.6 million in profits from the sale of ULLICO stock, forfeit $10 million in compensation and make other payments worth about $4.4 million. All but two of the company’s directors were said to have profited from the deals - 2002

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