Staging their stunt of the week, Florida public-employee unions called on members Thursday to withdraw funds from five banks in protest of labor-reform legislation.
The unions, representing some 20,000 workers, targeted Bank of America, PNC Bank, Regions Bank, SunTrust and Wachovia, whose executives sit on the Florida Chamber of Commerce board of directors. The Chamber is among the leading business groups lobbying to end payroll withholding of union dues by government agencies.
At a sparsely attended news conference outside the Orlando Chamber of Commerce office, labor leaders estimated that the five banks could lose $10 million in deposits as a result of the union initiative.
Florida Chamber President Mark Wilson acknowledged the unions' fiscal clout -- "it could be $10 million, it could be $100 million" -- but he dismissed Thursday's event as another in a series of publicity stunts by labor leaders.
"They carried a casket to [Rep.] Chris Dorworth's office, saying his bill would be the death of public education and unions. They put tape over their mouths in Tallahassee, as if anyone cares.
"Last week, they threatened several senators at the Senate Rules Committee. I'm no longer surprised by these tactics," Wilson said.
Wilson added, "What we have here in this country, all the way to the White House, are unions pushing a socialistic agenda of bigger government and higher taxes."
But beyond the rhetoric and the threats, Wilson said the root problem is a lack of understanding of basic economics.
"These union leaders have never had private-sector experience in terms of running a small business or putting their own capital on the line or meeting a payroll. These unions are demonstrating for the world to see that they just don't understand how jobs are created in the private sector and how the private economy works."
As further evidence, Wilson noted that he has received messages from public-sector union members who say they are taking their bank deposits to other states.
"The union leaders apparently don't understand that their own members have loans for homes and autos at banks here. They apparently don't know where loans come from," Wilson said.
That said, Wilson averred that unions can serve a worthwhile purpose in defending members on the job. "There is a role for them, unfortunately taxpayers do not realize they're negotiating against them."
To facilitate understanding and dialogue, Wilson pledged to pay for 100 Florida union leaders to take an online course in "Economics 101."
"We need an adult conversation about making Florida the No. 1 job-creating state in the country," he said.
Organizers of Thursday's union rally did not respond to Sunshine State News' request for comment.
The Florida Bankers Association, a trade group representing the state's banks, condemned the unions' call to withdraw.
This action by the unions in withdrawing monies from FDIC-insured banks does not make sense, FBA President and CEO Alex Sanchez said in a statement.
Banks comprise only a small percentage of the Chambers diverse membership.Will the unions also lead a boycott against hundreds of other businesses that are also Chamber members?
Though it's unclear where participating union members might move their cash, Sanchez said loans come from deposits that are reinvested and "moves like this one by unions withdrawing monies from FDIC-insured banks are counterproductive."
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Reach Kenric Ward at kward@sunshinestatenews.com or at (772) 801-5341.
