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TOPIC: Business And Finance

TITLE: A New Look at Labor Day

Article:

A New Look at Labor Day by: Robert F. Abbott

A day to reflect on the accomplishments of working people: That's been the proud tradition since the first, unofficial, Labor Day back in 1882.

But, one of labor's greatest accomplishments has gone largely unrecognized. Since the end of World War II, working people have bought up a huge chunk of big business. They now own a piece of just about everything in business, from multinational corporations to small companies that build mini-malls in their neighborhoods.

It may be the greatest economic transformation since the Industrial Revolution; management guru Peter Drucker calls it 'The Pension Fund Revolution.'

To get a sense of the transformation, consider this: At the end of '2001

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