It seems that two AFL-CIO groups (Sheet Metal Workers’ International Association and the International Union of Painters and Allied Trades) aren’t happy that companies like Pulte Group home builders accepted “bailout” money from the federal government and then didn’t create enough jobs to suit the AFL-CIO, it seems.
So they did what any organization would do to get their point across – they deployed their top 200 debaters with hard hats, overalls and bullhorns to a meeting of mortgage bankers at a Marriott in Washington, D.C. that included Pulte Group. And within ten minutes of pushing their way into the private meeting and shouting “Where are the jobs?” and “Where is the money?” they dispersed when additional security guards arrived…
It seems Pulte Group reportedly got $900 Million in tax breaks that the union folks thought should have been converted to jobs building additional houses, ignoring the reality that we have several years worth of housing inventory at the end of 2010 (around 6.3 Million unsold units in November, 2010).
The Huffington Post: Union Protest Interrupts Mortgage Bankers Summit
Calculated Risk Blog: CoreLogic: Shadow Housing Inventory pushes total unsold inventory to 6.3 million units
Fortune Magazine: Handsome government handout for homebuilders
AFL-CIO Blog: Protestors Demand to Know How Pulte Spent Bailout Funds