Word: stevenses
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Dates: during 1970-1979
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Rogers' prime target has been J.P. Stevens & Co., the second largest U.S. textile maker, which for more than 16 years has fought off unionization despite repeated warnings by the National Labor Relations Board and three contempt citations by federal courts. Labor regards cracking Stevens as the key to organizing...
Last winter the ACTWU organized a campaign that led labor unions to threaten to withdraw more than $1 billion in pension and other funds from New York's Manufacturers Hanover bank unless it dumped two of its directors, who also held seats on the Stevens board. The bank quickly...
Next the ACTWU turned its ire on the New York Life Insurance Co. by announcing that it would run its own candidates for the board against Finley and New York Life's chairman R. Manning Brown Jr. A contested election would have cost the insurance firm as much as...
But that was only the beginning. Now the union is going after E. Virgil Conway, chairman of the Seamen's Bank for Savings in New York City, who refuses to quit as a director of Stevens. The union is stirring up activist groups against Sea men's by...
Next on the hit list is Sidney Weinberg Jr., a partner of Goldman, Sachs, the investment banker. Rogers plans a nationwide campaign to force him out as a Stevens director. After that the union will probably try to push Finley off the boards of Sperry Rand and Borden.