Stock Market Up With Possible Pause in Card Check Law

I believe yesterday's stock market jump -- or was it a dead cat bounce? -- up 379.44 points, 5.8% the most in almost 4 months -- is attributed to the announcement that the holy grail of union leaders -- the so-called "Employee Free Choice Act (EFCA, H.R. 1409, S. 560) " but in actuality the "Easily Add Union Dues to Union Leaders' Funds Act" -- is perhaps being delayed by the doubts of some Democrats, along with most Republicans, free-market advocates, and business people not otherwise cowed by fierce union strength. The act makes forcing unions on companies a walk in the park, while diminishing the rights of those very workers that work in the companies who will be intimidated by union organizers who will know who is resisting signing a simple card to dictate union "bargaining". Further, if the union can't come to an agreement with the companies, liberal bureaucrats can write union contracts, including wages, benefits, work assignments, promotion procedures, and any major changes to business practices and operations and compel them to unionize plus there is no meaningful small businesses exemption so it would cover millions of small and newly-organized businesses. While in McIntyre v. Ohio Elections Commission the Supreme Court wrote of the importance of secret ballots in voting one's conscience "without fear of retribution" recently (in 1995), those self-same politicians elected by secret ballot will deny that right to workers, whose "leaders" -- union officials -- elect those legislating Congresspeople.
Unions kill jobs. FDR proved that in extending the Great Depression almost a decade with the forced unionization of the National Labor Relations Act (the Wagner Act signed July 5, 1935), which benefitted a small percentage of workers (but all union leaders) and cost the jobs of many, many others. It is telling that only government workers' unions -- whose leader contribute union funds mightily to the Democrat Party in exchange -- haven't lost huge ground over the past 20 years, while in the private sector they have dropped to 7.8% down from nearly 21% thirty years ago. Government-employee union membership is 36.8%! A major reason for the decline in the private sector is that union leaders' demands cripple companies and kill many. Airlines, steel companies, auto companies and related parts suppliers all come to mind.

The stock market as well understands the absolute harm to jobs, thus sends it crashing downward with the spectre of the card check act passing. And apparently vice versa, as yesterday's performance proved.

Take note President Obama.