In Support of Eliminating “Corporate Carpet Bagging” and Its Effect on the Local Community

WHEREAS, unions, corporations and business entities that are regulated by the federal government, the practice of fair labor laws; and

WHEREAS, more businesses are looking to file bankruptcy, close doors, and sell out to overseas competition and cash in on the "losing money syndrome" to reorganize their business practices which can be called "bad management"; and

WHEREAS, the American system of retirement security is in crisis. The system is currently under ferocious attack in both private and public jurisdictions; and

WHEREAS, healthy international and domestic-based corporations and businesses are reneging on decades old commitments of non and negotiated collective bargaining agreements to provide their employees with secure retirement benefits; and

WHEREAS, the result is that across our economy, African Americans, especially and other workers will face retirement with inadequate resources to maintain their adequate standard of living; and

WHEREAS, well designed and protected defined benefit plans provide benefits for all covered workers, promote lifetime retirement income, deliver valuable survivor and disability protections and offer important early retirement benefits and post-retirement benefit increases; now

THEREFORE, BE IT RESOLVED, that the NAACP denounce practices which keep African Americans, and other minorities from retiring and enjoying their hard earned pensions and benefits; and

BE IT FURTHER RESOLVED, that the NAACP denounce the practice of employers going out of business and/or filing bankruptcy and reneging on negotiated and non-negotiated collective bargaining agreements and using this method to deny workers their earned pension benefits; and

BE IT FURTHER RESOLVED, that the NAACP work with the U.S. Congress to develop legislative proposals to provide real retirement security to all American workers that compels employers to set aside adequate amounts of monies that can only be used as retirement funds for its workers and that these funds are portable and guaranteed for life; and

BE IT FINALLY RESOLVED, that the NAACP will expose and challenge the corporate, political, and financial interests who seek to undermine guaranteed workers' retirement security.