Andy Pudzer is Trump’s pick for Secretary of Labor. He is the
CEO of the parent company for Hardee’s/Carl’s—the group that somehow managed to
transform fast food into a porn film experience.
His treatment of low-wage workers is on a par with his
exploitation of women.
Background: Obama’s Department of Labor implemented a rule
(not an executive order, meaning that it went through a formal notice and comment process regulated by law) to protect workers from employer pension plans that
charge excessive management fees. These are 401(k) plans, where workers are
investing their earnings in tax-deferred retirement accounts. They’re the kind
of plans that Paul Ryan wants to convert from government guaranteed Social Security.
The rule requires retirement advisers to put their clients'
interests ahead of their own by eliminating conflicts of interest that can lead
some brokers to recommend investments that will get them a higher commission or
fee.
The 401(k) plans he offers his own employees implies,
however, that he opposes the new rule.
Brightscope Inc, a research company that rates 401k plans,
says that CKE plans are less generous than fast food competitors. For example, CKE does not match even a dollar that a
low-wage worker manages to put away in the plan.
Making matters worse, CKE plans charge high investment fees.
....
(Below are ads run by CKE.)
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