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4-Traders Homepage  >  Equities  >  Nyse  >  Dr Pepper Snapple Group Inc.    DPS

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DR PEPPER SNAPPLE : NY State Comptroller Thomas DiNapoli to Visit Mott's Picket Line

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08/10/2010 | 04:00pm CEST

DiNapoli Expresses Concern Over the Strike's Impact on New York Residents and on Dr Pepper Snapple Group's (NYSE: DPS) Financial Health as Strike Hits Day 80.

WILLIAMSON, N.Y., Aug. 10 /PRNewswire-USNewswire/ -- Today NY State Comptroller Thomas P. DiNapoli will be joining striking workers on the picket line in Williamson, NY. Comptroller DiNapoli is the Trustee of the New York State Common Retirement Fund, which is valued at $126 Billion--$33.2 million of which is Dr Pepper Snapple Group (NYSE: DPS) shares.

In April, before the strike began, Comptroller DiNapoli wrote to Dr Pepper Snapple Group CEO Larry Young, asking them to reconsider their aggressive and "contentious" approach to bargaining. As the comptroller said in his letter, "...such unresolved labor issues can negatively affect the morale and productivity of the Company's dedicated employees. A disenfranchised work force and the associated negative publicity ultimately impact profitability."

Entering their twelfth week on the picket line, the members of RWDSU Local 220 reaffirmed their decision to go out on strike in the wake of Dr. Pepper Snapple Group's illegal bargaining tactics that have violated U.S. labor laws and forced the union to file unfair labor practice charges. Enjoying record profits, an increase in market share and skyrocketing stock prices, Dr. Pepper Snapple Group has publicly acknowledged the company wanted to take advantage of high unemployment and an insecure economy in the area. In offering the union negotiating committee wage and pension reductions, the company told the union that the workers should think of themselves as a "commodity" like "soybeans or gasoline."

"We're glad to see Comptroller DiNapoli on the strike line with us, and he is right to be concerned about the health of the company. Judging from the few trucks that come in and out of the plant, and the amount of co-packing the company has resorted to--they just can't get this factory working up to speed! They need us back to run the factory, and share holders like the State of New York are right to stand up for good jobs, and for their investments," said Bruce Beal, a RWDSU Local 220 striker.

                Mott's Strike
    Where:      Line,
               4363 State Rt. 104
               Williamson, NY
    When:      Today, August 10th
                11:30 a.m. -12:30
    Time:       p.m.

For more information on the Mott's strike, visit www.mottsworkers.com.

The Retail, Wholesale and Department Store Union represents 100,000 members in the U.S. and Canada. The RWDSU is affiliated with the United Food and Commercial Workers Union.

SOURCE Retail, Wholesale and Department Store Union

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