As we are building out the whydrs database and beginning to form an AIG, I created this letter to help begin advocating. Unions are the perfect organizations to help spread the messaging around an AIG as they already have the structure put into place and some companies even give workers shares. If you would like to learn more about an AIG you can see from my post here
Dear [Insert Union],
I would like to express my support for your union and encourage you to continue the fight against [Insert Company]. I am in full support of achieving large increases in raises and other benefits. One benefit many public companies provide is shares within the company. I would like to raise awareness of the powerful benefits of this and how as a Union you can help revolutionize how workers take charge of companies.
I am part of a movement that is taking on Wall Street and the ownership of companies. We are beginning to form an Activist Investment Group (AIG) and spread messaging around Directly Registering Shares and the importance of shareholder resolutions. An AIG is a group of investors or in your case workers that utilize their share power to restructure corporations in a variety of ways. One such way is by using their shares to change the board of directors. This allows the group a direct voice in decision making in the company and how policies should be made. Most of these activist investor groups have been facing off against climate change in order to change company policy regarding its impact on the environment. I have compiled a small list of Activist investor groups so you can read what they do and the impact they have.
We have compiled a helpful guide on shareholder resolutions at whydrs.org. We have communicated with the SEC chairman Gary Gensler on Direct Registration and sent him this packet.
As a union you have the power of your labor to leverage in deals with the company. What if you were able to use the power of shareholders to continually change policies within companies every year at Annual Shareholder Meetings. At these meetings board members are voted on, policies for the company, and share buy backs. In 2022 $900 Billion worth of shares were bought back. If workers were able to hold shares within the company they will also receive this benefit as many CEOs and board members do.
I am not a financial advisor and none of this is financial advice. I am merely a humble worker who wants to see this world change for the better and one way to do so is fighting back against large corporations. Good luck on all your actions as a union and I wish you all the best.
Here are some helpful links: The Director’s Guide to Shareholder Activism (Harvard)
Proxy Access Reform: The SEC Makes It Potentially Easier for Shareholders to Nominate Directors
SpartanNash, activist investor group sparring over company’s direction
Thank you!
Feel free to use this as a template and edit what you want. To continue down this route of communicating with Unions we will need a list with their companies and contact info. They are a great place especially now as many are striking for better contracts.
This is fucking… amazing. Awesome. Above and beyond.
Let’s.
One suggestion from this part: “We have communicated with the SEC chairman Gary Gensler on Direct Registration and sent him this packet.” I think you/we should change that to reflect the fact that we didn’t merely send him the packet, but he received it. As well, the WhyDRS.org team ALSO were in a televised interview with Chief Gensler.
Edit: as well, this line…
I think could be changed to something like “One such way is by using their shares to change corporate policy, direction, andor board of directors.”
Or something like that. That line needs to be broader. More broad. Wider. Mor wide.
Edit2: fwiw, I’d like to read through this a little more and see if there’s anything that sticks out that could be polished, a little, but this is a really, really, really good fucking start and something that needs to be sent out to unions across the nation.
This is networking and getting dominos set-up. This is what the Wall Street psychos fear.
Those are some good edits! I agree it will be important to discuss our interview with Gary as it helps give us some more authority. Making the statement broad is a good idea as it can help demonstrate the actions unions can take as shareholders and all the benefits. We can edit this letter and then create a list of unions and contact information so we can begin networking. We should also make a letter for asset managers and pension funds for DRS as they will be key in spreading information
Yes, yes.