Catherwood LibraryILR School

The release of a report authored by a Morgan Stanley market strategist, cautioning investors to avoid unionized companies has drawn swift and sharp response from the American labor movement, including a letter from AFL-CIO President John Sweeney. The letter to Morgan Stanley’s CEO, Philip Purcell, criticized the company’s apparent disdain for worker healthcare and pension plans, and questioned the company’s decision to release a report that is contradictory and based on little evidence even in the opinion of its authors. While the AFL-CIO is not seeking a retraction of the report, Mr. Sweeney has requested a meeting with Mr. Purcell to discuss concerns over the intentions behind the company’s release of the report shortly after the AFL-CIO’s re-filing of its proposal---as an investor in the company---to prohibit analysts from taking assignments involving conflicts of interest.