This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

'Union' Now 'the U-Word' in the South

Stocks in this article: BADALLCC

CHARLOTTE, N.C. ( TheStreet) -- It is not a good time for unions. In some regions, such as ours, "union" has become "the U-word."

This may come as a surprise, but here in the South, we actually have unions, and some locals have thousands of members. Some have been here for a century.

These are little-known facts, perhaps overshadowed by the rhetoric of our leaders.

Boeing Co. machinists picket Tuesday, Sept. 16, 2008, at a gate to Boeing's giant production plant in Everett, Wash.

These leaders seem to hate labor. They proclaim, at every turn, that unions do harm. Sometimes, it seems that a region that once turned its wrath on minorities (but no longer does) has simply rechanneled the hatred.

For instance, South Carolina Governor Nikki Haley had this to say in a recent Wall Street Journal column: "As is often the case, a win for people and businesses is a loss for the labor unions, which rely on coercion, bullying and undue political influence to stay afloat."

Sen. Jim DeMint (R., S.C.), on Coffee and Markets, a conservative podcast, said that President Obama stocked the National Labor Relations Board "with union thugs."

And in a recent column in The Washington Post, House Majority Leader Eric Cantor, from Virginia, said that President Obama is "fueled by efforts to incite class warfare."

By the way, it has long been said that North Carolina is a valley of humility between two mountains of conceit -- which perhaps helps to explain the language of our neighbors to the north and south.

Certainly, their views reflect the intense competition between states for manufacturing jobs, combined with the Republican Party's longstanding conflict with organized labor.

So maybe the rhetoric is just excessive, like the coverage of Hurricane Irene. Maybe it is one more sign that we live in an over-the-top society, one where we must demonize and exaggerate to get attention. Or maybe, nothing at all has changed in South Carolina, which 150 years ago declared war on the United States and in parts of Virginia, site of the second Confederate capital.

The Federal Law Questioned by S.C.

In South Carolina, it seems that every once in a while the politicians elect to drive the train off the tracks by asserting that federal law has no relevance to them.

On this Labor Day, the federal law in question is the National Labor Relations Act. It took effect in 1935 and protects the right to strike. As a corollary, it prevents companies from moving work in retaliation for labor actions. Surely, our leaders would agree that unions have the right to strike, not because strikes are good, but because the alternative would be to deny this basic right.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,828.24 +0.49 0.00%
S&P 500 2,067.56 -5.27 -0.25%
NASDAQ 4,791.63 +4.3130 0.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs