The Rise of the Working-Class Shareholder: Labor's Last Best Weapon

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The Rise of the Working-Class Shareholder: Labor's Last Best WeaponWhen Steven Burd, CEO of the supermarket chain Safeway, cut wages and benefits, starting a five month strike by 59,000 unionized workers, he was confident he would win. But where traditional labor action failed, a novel approach was more successful. With the aid of the California Public Employees' Retirement System, a $300 billion pension fund, workers led a shareholder revolt that unseated three of Burd's boardroom allies. In The Rise of the Working

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