.SenSanders reveals SenWarren will testify at a Thursday hearing that will examine Wall Street greed through the case study of Warrior Met Coal in Alabama, where workers have been on strike for nearly a year.
The Senate Budget Committee will examine Wall Street greed through the case study of Warrior Met Coal in Alabama, where workers have been on strike for nearly a year.U.S. Senate Budget Committee Chair Bernie Sanders revealed Tuesday that Sen. Elizabeth Warren will testify this week at the panel's hearing on"Wall Street greed and growing oligarchy in America."
witnesses: Cecil Roberts, international president of the United Mine Workers of America ; Braxton Wright, a Warrior Met Coal employee and member of UMWA Local 2368; economist Nomi Prins; and University of Connecticut law professor James Kwak. Yet, now that the company has returned to profitability and has seen its stock price skyrocket by 250% during the pandemic, Warrior Met has offered its workers an insulting $1.50 raise over five years and has refused to restore the healthcare and pension benefits that were taken away from them five years ago.
The chairman, in his statement previewing the event, highlighted that BlackRock, State Street, and Vanguard—the"Big Three" asset managers—are the largest shareholders in over 85% of S&P 500 companies, and they each have"great power over executive compensation, climate commitments, share buyback proposals, mergers and acquisitions, and other advisory topics."
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