‘Bank staff need first chance’
Bank staff should be given the first chance to take up any shares issued in the Bank of New Zealand, the Democratic Party’s Canterbury Regional Council believes. These employee shares should carry voting rights, but corporate or institutional shareholdings should be denied voting
rights, said the council recently. "In this way the unions could ensure a degree of participation in management, which could go a long way to reducing the industrial relations problems which have disrupted the banking industry in recent years,” it
said. Unless worker shareholding was introduced “all that would happen is a further grab at the profits of a successful State enterprise by those already flush with the proceeds from the share market bonanza of the last 12 months,” the council said.
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Press, 21 July 1986, Page 3
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130‘Bank staff need first chance’ Press, 21 July 1986, Page 3
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