Manhattan Moment: Unions target corporations through shareholder activism

Published July 19, 2012 4:00am ET



Even with a friendly administration in the White House that aggressively bailed out the United Auto Workers, labor unions have had a rough go of late. Private-sector union membership continues to dwindle, as unionized companies — weighed down by unsustainable pay and benefits — lose out in the marketplace to their nonunionized peers.

Public-sector unions have fared less badly in terms of membership, but budget constraints have forced states like Indiana, Wisconsin and Rhode Island to institute necessary reforms to benefits and pensions. (And states that have resisted such reforms — especially California — have seen their fiscal situations deteriorate.)

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