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To: TobagoJack who wrote (15450)3/16/2007 7:06:01 AM
From: elmatador  Read Replies (1) of 217960
 
This is how protectionism will kick in: Labour unions looking for intl action on growth of hedge funds, private equity
03.12.07, 10:35 AM ET

PARIS (AFX) - International trade union organisations said they are looking to develop a coordinated response to the rapid growth of hedge funds and private equity investments.

The OECD trade union advisory committee (TUAC) said unions are particularly concerned about the impact of company buyouts on employees' job security and pensions.

The TUAC represents 66 mln workers in 56 affiliated trade union organisations in the 30 OECD member countries.

'We are looking at the feasibility of an international response that includes information and consultation rights for workers and appropriate regulation and taxation by governments,' said TUAC general secretary John Evans.

Union leaders from more than 20 countries will meet in Paris on Friday to discuss the impact of the rapid growth of private equity deals and hedge fund investments on employees' job security and pensions.

'Union concern has mounted at the employment impact of buyouts by what are often shadowy investors using borrowed money. Concerns have also been raised at the increasing amounts of pension fund money being invested in private equity and in hedge funds,' the TUAC said.

steve.whitehouse@thomson.com
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