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Labor group fumes over home builder ‘bailout’

LIUNA has interest in pension funds, recruitment

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The Laborers' International Union of North America, a union of mostly commercial construction workers that claims about 500,000 members in the United States and Canada, has been anything but quiet about the U.S. housing market downturn that has devastated the residential building industry. LIUNA is kicking some major home builders when they are down -- the group has openly attacked management practices, including executive compensation, and has released a report that details the contributions of the corporate home building industry to the nation's mortgage crisis. The union has submitted dozens of filings with the U.S. Securities and Exchange Commission, too, in an effort to force big builders and financial companies to disclose more information about mortgage investments. A financial stake Its interests are obvious: the union has numerous pension funds that have been impacted by the housing market downturn, problems in the mortgage and credit markets have the potential to w...