New Website Reveals Billionare's Campaign to Dismantle Retirement Security

Carolyn Constantino
Beyond Chron
April 06, 2015

A new website reveals that Enron-billionaire John Arnold has spent up to $50 million of his own fortune to dismantle retirement plans for firefighters, nurses, teachers and other public employees.

The website – Truth About John Arnold – is sponsored by the National Public Pension Coalition (NPPC) andCalifornians for Retirement Security and traces the wide financial influence that one billionaire has on public pension fights. John Arnold amassed his fortune as an Enron trader, where he earned an $8 million bonus as the company’s collapse decimated $1.5 billion in public pension assets. Arnold turned his $8 million into billions as a Wall Street hedge fund manager.

Click here to read more.

Get Advice Join TDU Donate

Recent News

Union Membership Steady for 2019 at 16.4 million

That represents a slight decline in percentage of unionization, according the comprehensive annual report. The union advantage remains strong: "Union members had median usual weekly earnings of $1,095 in 2019, while those who were not union members had median weekly earnings of $892" That's $10,556 per year. Read the report.

'How this African American UPS worker challenged powerful union leaders in Philly, and won.'

by Juliana Feliciano Reyes, January 22, The Philadelphia Inquirer

"Around the country, rank and file union activists — from teachers to journalists to warehouse workers — have challenged the establishment, who they say is too complacent, too cozy with management, to fight for workers and keep corporations in check."

View More News Posts