BANGOR, Maine — FairPoint workers and their supporters gathered Thursday near the intersection of Main and Railroad streets for a rally and informational picket they say was meant to send a message to Wall Street: “Stop putting profits above working families!”
In a news release they issued on Thursday, FairPoint union members noted FairPoint Communications is largely owned by several Wall Street hedge funds such as Angelo, Gordon & Co., which owns almost 20 percent of the company’s shares.
Last month, unions representing FairPoint workers said management imposed new terms and conditions on union members after abandoning the collective bargaining process. The company can now outsource hundreds of good jobs in Maine to out-of-state contractors, they said.
Union negotiators contend the company never intended to bargain in good faith to reach a fair agreement and is simply pushing to replace union workers in a bid to slash labor costs ahead of a sale. Union official say Maine’s communities depend on the highly-skilled workers who build, maintain, and service our telecommunications systems, including its cutting-edge Next Generation 911 system.
Union members contend if FairPoint executives and hedge fund owners get their way, less skilled, low-wage contractors would be maintaining Maine’s critical infrastructure.