HISTORY OF WALDEN ASSET MANAGEMENT/SRI: Spring 2002

SOCIAL TOPICS (Archive): HISTORY OF WALDEN ASSET MANAGEMENT/SRI

Highlights of Walden's Labor Shareholder Partnerships

Published, Spring 2002

By Steven Heim

SIDEBAR to Workers and Their Capital: Labor Unions as Shareholder Activists in Spring 2002 issue of Values.

Walden worked to sponsor the first shareholder resolution filed by a mutual fund, prompting Angelica Corp. to negotiate in good faith with its union. This was after a two-year struggle led by the Amalgamated Textile Workers Union (now known as UNITE) to get the company to bargain with its workers. (1986)

Service Employees International Union joined Walden, the primary sponsor of an equal employment opportunity (EEO) shareholder resolution with Home Depot. This proxy vote became the first ever EEO-related "Key Vote" by the AFL-CIO. (1999)

Walden helped workers at Imerys' Alabama plant win the right to a fair election in which the PACE International Union prevailed. This was after a Walden representative spoke at Imerys' annual meeting in France and management pledged to not retaliate against union supporters. (2000)

Workers at an Arizona plant of Taiheiyo Cement Co. of Japan won their first contract in almost four years. This was after Walden joined with PACE International Union and the Just Transition Alliance, a grassroots labor and environmental justice coalition, to pressure management to bargain with the workers and address the local community's environmental concerns. (2002)

The information provided in the above article is for historical purposes only. Such information may no longer be current and therefore should not be relied upon.

The information contained herein has been prepared from sources and data we believe to be reliable, but we make no guarantee as to its adequacy, accuracy or completeness. We cannot and do not guarantee the suitability or profitability of any particular investment. No information herein is intended as an offer or solicitation of an offer to sell or buy, or as a sponsorship of any company, security, or fund. Opinions expressed herein are subject to change without notice.