Investor Worries Over Card Check Money Pit
Wednesday, February 17th, 2010 by adminIs “card check” just a boogeyman the “big scary” businesses want everyone to worry about? Not by a long shot. The latest evidence comes from a man (who happens to have the pretty cool last name of Ferrari) who tells the Wall Street Journal that the looming threat of the Employee Free Choice Act, among other things, keeps him spooked about the prospects of his retirement future:
Despite the business being on more stable footing, Ferrari says he isn’t convinced that his business or investors at large are out of the woods. “Here we are well over a year after this huge once-in-a-one-hundred-year event and we still don’t know what the rules are,” he says. “What is my tax rate going to be for me and my business? Will card check legislation go through? Will cap and trade regulations affect utilities prices?” he asks. Because of this uncertainty, Ferrari has decided to push off closing up shop. “At the start of retirement, I want to have full peace of mind,” he says.
Wow. That says a lot.
It also begs one big question: what would card check do to the assets in already-troubled union pension funds? While EFCA would help get new members to add dollars, the assets those dollars would buy would face a shaky future.
For more on pension problems, visit our page dedicated to the subject.
Tags: Investing, Pensions, Retirement Security, Union Pension
