Union Workers Lose Security

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Workers went on strike at Momentive last November hoping to fight off a new contract that would have slashed their healthcare and retirement benefits. The industrial action started in the white-hot heat of the election, and many of Momentive’s workers voted for Donald Trump, whose appeal to blue-collar workers helped Trump comfortably beat Hillary Clinton in Saratoga County, Waterford’s district.

The plant has another tie to Trump. Since it was sold by General Electric in 2006, one of its major investors has been Blackstone, the private equity firm run by Stephen Schwarzman, Donald Trump’s billionaire “jobs czar”. He is one of six billionaires – including the largest shareholder, Leon Black of Apollo Global – listed as Momentive backers. Between them they have a personal fortune of $24.6bn.

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